• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

Congratulations to Jamil from Pakistan and Jeeva from Malaysia - Global Prize winners!
see all ACCA December 2022 Genius Hunt Competition winners >>

Specially for OpenTuition students: 20% off BPP Books for ACCA & CIMA exams – Get your BPP Discount Code >>

Confusion

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Confusion

  • This topic has 6 replies, 3 voices, and was last updated 1 year ago by Kim Smith.
Viewing 7 posts - 1 through 7 (of 7 total)
  • Author
    Posts
  • August 30, 2021 at 7:09 pm #633558
    rabihashim
    Member
    • Topics: 18
    • Replies: 20
    • ☆

    Dear Madam,

    I want to ask that if the question does not specify whether to use test of control or substantive procedures and simply tells us to write audit procedures.

    I mean in this scenario we can write both test of controls and substantive procedures?

    August 31, 2021 at 8:03 am #633595
    Kim Smith
    Keymaster
    • Topics: 100
    • Replies: 6787
    • ☆☆☆☆☆

    If there are any such questions which do not specify – then possibly – but I think unlikely. If at a final audit – for example – procedures will most likely be substantive (ToCs at an interim audit).

    Give me the wording of a past exam requirement (and question reference/name) where you think it does not specify and I’ll tell you whether there are clues to which ones are called for.

    September 2, 2021 at 9:33 am #633945
    Noah098
    Member
    • Topics: 935
    • Replies: 352
    • ☆☆☆☆☆

    Lily Window Glass D’12

    Describe the procedures to be undertaken by the auditor DURING the inventory count of Lily Window Glass Co in order to gain sufficient appropriate audit evidence.

    maam here they dont mention whether we are supposed to give TOCs or SPs. So then how do we decide?

    and although it may not be latest, I have seen some recent past MCQs just asking fr “appropriate procedures/ audit procedures”, this just confuses me to a great length as to whether am supposed to select options with TOCs/SPs?

    September 2, 2021 at 10:17 am #633955
    Kim Smith
    Keymaster
    • Topics: 100
    • Replies: 6787
    • ☆☆☆☆☆

    “Attendance at physical inventory count” – is a comprehensive procedure in itself – made up lots of separate tests – agree a sample of book to physical (and vice versa), observe the counters/recounters …. you don’t have to categorise whether ToCs or substantive.

    For example – it is important at the y/e count to obtain last GRN/GDN numbers – this can’t be categorised – the purpose is for subsequent cut-off testing.

    September 5, 2021 at 1:26 pm #634460
    Noah098
    Member
    • Topics: 935
    • Replies: 352
    • ☆☆☆☆☆

    trying to get your point…

    again if you notice in the July 2020 examiner’s report example 2, they ask for “following procedures….”

    they don’t clarify between TOC or SP.

    maam where just “procedures” are asked for is there any implicit assumption that they are looking for SP?

    September 5, 2021 at 5:27 pm #634484
    Kim Smith
    Keymaster
    • Topics: 100
    • Replies: 6787
    • ☆☆☆☆☆

    It could be implied by the timing. If the y/e was 31 May 20X5 and the procedures are for the final audit being planned in July, it’s too late to be thinking about whether you want to rely on the effective operation of controls – ToCs should have been carried out during the year at one or more interim visits. This is depicted on page 53 of the notes.

    September 5, 2021 at 5:29 pm #634485
    Kim Smith
    Keymaster
    • Topics: 100
    • Replies: 6787
    • ☆☆☆☆☆

    It could also be implied by the information you are given – if you aren’t told what control activities have been implemented by the client, you can’t devise ToCs to test their operating effectiveness.

  • Author
    Posts
Viewing 7 posts - 1 through 7 (of 7 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

ACCA News:

 

ACCA My Exam Performance for non-variant Applied Skills exams is available NOW

NEW! Download the ACCA Pass Guide

FREE Verifiable CPD for ACCA Members

ACCA mock exams and debrief videos

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

Donate

If you have benefited from OpenTuition please donate.

ACCA CBE 2023 Exams

Instant Poll * How was your exam, and what was the result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Specially for OpenTuition students

20% off BPP Books

Get BPP Discount Code

Latest comments

  • John Moffat on Time Series Analysis – ACCA Management Accounting (MA)
  • John Moffat on The use of the target cost – ACCA Performance Management (PM)
  • tello18956 on CIMA BA2 Non-Financial Performance Measurement
  • 56v647e on ACCA AB Chapter 3 – An organisation’s stakeholders – Questions
  • SwissCheese on The use of the target cost – ACCA Performance Management (PM)

Copyright © 2023 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in


We use cookies to show you relevant advertising, find out more: Privacy Policy · Cookie Policy