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Hello
Is there a suggested format/structure to follow when answering audit risk questions? I find that sometimes I tend to go on and start describing audit procedures so it would be very helpful if there was some sort of guide to follow.
Thanks
You could try reading the relevant article “Exam technique for Advanced Audit and Assurance: part 2 – risk” which you will find here https://www.accaglobal.com/hk/en/student/exam-support-resources/professional-exams-study-resources/p7/technical-articles.html
You should also believe that it is simply better to “think more (i.e. PLAN) and write less” to make each sentence count. If the evaluation of a risk is 3 marks you are looking for 3 relevant sentences – you can’t afford to waste time on writing down the first thing that comes into your head.
At this stage you should be able to distinguish between the evaluation of the risk and the risk response – i.e. the substantive procedures you will most likely be asked for in the next requirement in respect of SELECTED items for which there are specific risks.
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