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Hi, Kim, hope you are well
I would admit that I’m quite clear what I have learnt in the video, but, when I get dwon on the specific questions, I get confused.
for example, the question is ‘Recommend the additional information which would be relevant in the evaluation’. I do not understand what kind of information is additional information.
for example, in the context, the company recruited three new NEDs and a new finance director, the answer of additional information for this part is ‘Information on the background and experience of the new NED and the new finance director’
I do not really know, how can I find these additional information, could you please clarify it?
Please see this response https://opentuition.com/topic/additional-information-2
When referring to a question/answer it would be helpful if you could give it a name/exam year (or other source) so I don’t have to search the internet to find it. Your extract missed out key words:
“Recommend the additional information which would be relevant in the evaluation of AUDIT RISK.” One sentence in the scenario says:
“The company’s corporate governance was reviewed as part of the flotation process, resulting in the recruitment of three new non-executive directors and a new finance director.”
That is the only reference to the FD (!) – given their role in the preparation of the financial statements it would be pretty fundamental to have some information about their competence in assessing audit risk – you would get credit for anything sensible (e.g. if you wanted to know their qualification rather than “background and experience”).
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