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Also went value for money, wasn’t too sure at the time as it could have been financial audit.
Payroll was 16740 approx
IA manager lady
Unmodified opinion with material
There was one about occurence assertion i think, can’t quite remember.
The one about audit staff, i went find more qualified staff and report to audit committee.I am slowly forgetting the questions….
there was one MCQ for internal audit committee
I remember I chose 3 & 4 which were
IA committee is responsible for appointment and removal for external auditors
and reviewing effectiveness of internal controlsanyone else remember this question?
One MCQ was about opinion which should be given, I chosed unmodified with material uncertainty
@ash182 said:
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.
Me too
It was ok
I was sick though since 3 days
But exam went fine
I sat this exam first time
Hoping to pass
Good luck allyes one MCQ answer I had chosen
Unmodified opinion with Going Concern uncertainty paragraph
Question 18
Part d) What opinion type have you proposed? Qualified with ‘except for’ ?there was one MCQ about going concern assumption
I had chosen 12 months from the date of last reporting hence chose
31-May-20X7
anyone remember?
@tayyabom said:
there was one MCQ about going concern assumptionI had chosen 12 months from the date of last reporting hence chose
31-May-20X7
anyone remember?
yea i put that, pretty sure its right 🙂
@kicek7 said:
Question 18
Part d) What opinion type have you proposed? Qualified with ‘except for’ ?Yes, I had chose same.
i went Unmodified opinion and other pararaph, but think its wrong! i said this because it was disclosed in the accounts so it didnt need mentioned but it did need to be understood
@amrita1 said:
hello,but the didn’t the pay rise come into effect after the redundancies?
pay rise took effect from 01-Jan.
@tayyabom said:
yes one MCQ answer I had chosenUnmodified opinion with Going Concern uncertainty paragraph
Material Uncertainty Related to Going Concern
@ash182 said:
yea i put that, pretty sure its right 🙂Yes I chose assessment should extend to May 2017
@amrita1 said:
hello,but the didn’t the pay rise come into effect after the redundancies?
Yes after redundancy
@tayyabom said:
pay rise took effect from 01-Jan.yes so the pay rise of 6% should only be calculated for the 450 employees?
@tayyabom said:
there was one MCQ about going concern assumptionI had chosen 12 months from the date of last reporting hence chose
31-May-20X7
anyone remember?
yes i did the same. That is the right ans they must asses going concern for a 12month period
@amrita1 said:
yes so the pay rise of 6% should only be calculated for the 450 employees?If you do something like this
17m x 1.06 x 0.9 * 10 / 12
You’ll get the required figure 🙂
@tayyabom said:
If you do something like this17m x 1.06 x 0.9 * 10 / 12
You’ll get the required figure 🙂
yes thats what i did – sorry! i got confused when i read some else who posted their workings
@amrita1 said:
yes so the pay rise of 6% should only be calculated for the 450 employees?Yes for 450
@kanchandhankar said:
There was one Mcq about revenue’s assertiondo you remember its options, i vaguely remember but can’t recall.
@kanchandhankar said:
There was one Mcq about revenue’s assertionYes, i think i chosen d) cut-off
Or i just mixed up two questions, was there a question with test for cut-off and the correct answer was d? 😉
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