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I will be sitting the Audit exam (UK stream) on Thursday and was wondering if the ratios are given in the exam and if not, what ratios are required as the syllabus isn’t clear in this regard?
Thank you in advance,
LavanNo ratios are listed in the syllabus, nor are they provided in the exam. They would be needed if you are required to carry out an analytical review. Typically auditors use:
Gross profit %
Net profit %
Various expenses/sales
Receivables collection period
Payables period
Days inventory
Gearing
Interest coverMany thanks, I stumbled across the OT article and followed it through. I don’t know why the syllabus is so ambiguous in this regard and much appreciate your confirmation on this matter.
Thank you.
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