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audit procedures

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AAA Exams › audit procedures

  • This topic has 5 replies, 2 voices, and was last updated 2 years ago by Kim Smith.
Viewing 6 posts - 1 through 6 (of 6 total)
  • Author
    Posts
  • March 2, 2023 at 7:36 am #679923
    Frooti
    Participant
    • Topics: 92
    • Replies: 83
    • ☆☆

    Do we need to write which assertion does this audit procedure satisfy in these type of questions-
    a) write copy of evidence you will find in audit file.
    b) write audit procedures.

    March 2, 2023 at 9:48 am #679960
    Kim Smith
    Keymaster
    • Topics: 132
    • Replies: 8273
    • ☆☆☆☆☆

    No – see M/J22 Q1(b) answer for example – it needs to be clear WHY you are performing a procedure – what is its purpose – which might mention “completeness” or “valuation” (for example), but you don’t have to relate every action to an assertion.

    March 4, 2023 at 6:57 am #680077
    Frooti
    Participant
    • Topics: 92
    • Replies: 83
    • ☆☆

    if i write audit procedure and at end write to confirm completeness. etc so will my marks be deducted as generally we will be writing briefing notes to bod and will it look non professional to write which assertion is being confirmed?

    March 4, 2023 at 7:04 am #680078
    Kim Smith
    Keymaster
    • Topics: 132
    • Replies: 8273
    • ☆☆☆☆☆

    There is no negative marking in ACCA exams.

    March 4, 2023 at 1:13 pm #680108
    Frooti
    Participant
    • Topics: 92
    • Replies: 83
    • ☆☆

    ya but is there any chance that examiner would not give me professional marks that I would rather get if I had not written it.

    March 4, 2023 at 4:08 pm #680115
    Kim Smith
    Keymaster
    • Topics: 132
    • Replies: 8273
    • ☆☆☆☆☆

    Nothing that is validly earned, including professional marks, will be taken away.

    But if, for example, Q1a said to ignore disclosure risks, a candidate who ignored the instruction will not earn any professional mark for adhering to a specific instruction.

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