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Greetings Sir
I hope you are doing wellMy doubt here is that when answering exam questions on business Risk do we just generally write down all business Risk.?
OrShould I consider writing down those business Risk only that affect my audit risk
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How do I tackle such questions in the exam and revision kit sir ?No candidate is expected to identify all business risks or all audit risks – if you look at any published marking scheme you will see that there are always more risks than are necessary to cover to earn, theoretically, full marks. So “how many” you should try to identify and evaluate should be driven, primarily, by the marking scheme. You need only confine your business risks to those that affect audit risk if this is indicated by the wording of the requirement – that said, the most obvious business risks identifiable from the scenario will generally have an implication for the financial statements (and hence some risk of material misstatement).
Greetings sir when writing say business Risk for 8 marks I tend to write 8 business Risk .
I don’t know how to go around the marking scheme.Is it 1 mark per well explained
point and for other questions like implications , or evaluation of rommSorry sir for asking you questions but I don’t know how to proceed around the marking scheme and tend to waste time.. please guide me sir
I am just about to go away for a long weekend – please refer to this post for quite a lot of detail https://opentuition.com/topic/aaa-exam-2
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