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ok i did the preconditions and concluded with that the should not have accepted it as they where not complying with laws and regulations.
@shaunamcpartlin said:
ok i did the preconditions and concluded with that the should not have accepted it as they where not complying with laws and regulations.I didnt do that i did the preconditions but didnt say if they should except it or not
because they were not disclosing the directors names and remuneration and it was part of the legislation in the country where they where doing business that they must disclose this.
I generally found the exam much easier than I thought it would be. The MCQ’s were quite easy. I dont think the exam covered the whole syllabus very well but thats my opinion.
we’ll see what happens – good luck to all 🙂
I’d be interested to know what people put as MCQ answers, i can remember all of them.
hello,
why did you think they were not complying? i am worried about my answer now
thanks
I agree
I chose internal control should report to audit committee n lady should be head of IA dept. Senior staff should be selected based on experience .
I could wrong with wording but on the same lineohhh. I read it as they were disclosing the directors name and it was a legislation.
I took it as a general knowledge question regardless of any scenario and gave a general reply. I think that will earn the marks.
amrita
Nothing to worry. I think if you didn’t mention anything about compliance it will earn marks.
yeah thats what i did really and just wanted to make some reference to the information seen as they where named in the question.
thanks Muhammad, i gave a very general answer about planning etc and incorporated information given in question
@amrita1 said:
hello,why did you think they were not complying? i am worried about my answer now
thanks
It said it in the senario that they complied with the framework but the local legislation required them to disclose more about the directors renumerations but I think the question asked you to make a decision just asked what you should consider
@kanchandhankar said:
I think 168930017m /500 = 34000
6 percent rise 2040
36040
+ 1500 bonus
37540500*10% =50
500-50 = 45037540*450 = 16893000
just realised i got the question regarding NED’s renumeration wrong. i put down motivation and performance
damn! two marks gone
please share some MCQs I can’t recall at all.
I only remember 4 MCQs
Payroll calculations (my answer was wrong)
NEDs pay should be on time spent basis
Capex review etc for internal audit (my answer was value for money audit)
IA manager (lady with previous audit experience)@kanchandhankar said:
17m /500 = 34000
6 percent rise 2040
36040
+ 1500 bonus
37540500*10% =50
500-50 = 45037540*450 = 16893000
The rise came into effect in Jan. So it should have only been accounted for for 10 months of the year
@kanchandhankar said:
I agree
I chose internal control should report to audit committee n lady should be head of IA dept. Senior staff should be selected based on experience .
I could wrong with wording but on the same linesame here.
@tayyabom said:
please share some MCQs I can’t recall at all.I only remember 4 MCQs
Payroll calculations (my answer was wrong)
NEDs pay should be on time spent basis
Capex review etc for internal audit (my answer was value for money audit)
IA manager (lady with previous audit experience)I cant remember any 🙁 although I do know I chose B, C, D for 1, 2 and 3 cause I can picture the dots in my head
@tayyabom said:
please share some MCQs I can’t recall at all.I only remember 4 MCQs
Payroll calculations (my answer was wrong)
NEDs pay should be on time spent basis
Capex review etc for internal audit (my answer was value for money audit)
IA manager (lady with previous audit experience)My answer was vfm audit as well
Lady IA
NED was motivation n performance (I think m wrong)@louiseabigail said:
I cant remember any 🙁 although I do know I chose B, C, D for 1, 2 and 3 cause I can picture the dots in my headI remember that to
mine went
1 b
2 c
3 d
4 a
5 b
6 c😛
@louiseabigail said:
The rise came into effect in Jan. So it should have only been accounted for for 10 months of the yearYes I realised that .
I could be wrong 🙁
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