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Ma’am for every one assertion stated under audit risk, is it compulsory to pair it with an audit procedure? Like if I state inventory balance may not be accurate, complete and cut off errors may arise. Then if I state an audit procedure just for 1, say cutoff, then will I get full marks?
Or I need to ensure that I state only 1 assertion and 1 audit response relating to that assertion?
Or I need to mention all relevant assertions and all relevant audit procedures(as a part of audit response) corresponding to those assertions?
While I’m away you may find examiner’s reports a useful resource https://www.accaglobal.com/ie/en/student/exam-support-resources/fundamentals-exams-study-resources/f8/examiners-reports1.html
The latest S/D20 report is particularly detailed – and should be read in conjuction with the questions and answers (which also has marking scheme) that can be downloaded from here https://www.accaglobal.com/ie/en/student/exam-support-resources/fundamentals-exams-study-resources/f8/past-exam-papers.html
maam pls don’t feel the need to respond back while you are on a break. My doubts can easily wait for 5 days more. I am just putting them out here so that later on i don’t forget to ask them out to you.
I assure you i won’t be accumulating a bunch of doubts here. Have already started using the “Search” tool for most of my doubts!
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