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Anyone remember the MCQ question of subsequent event? In that question the first case was about financial difficulties faced by the company. And I didn’t remember the second case…anyone remember?
The lease question, leasing from the client is a self-interest, but it says on the question that the lease will be at market value, then is the conflict of interest significant?
I wrote it as not significant and then can accept the agreement, feel free to let me know if its wrong. I have no idea how I did in the exam, felt confident coming out of it but second guessing myself when I got home.
Same!! I’m doubting all my mcqs answers, at the time of the exam I was feeling all was easy, but now I’m kind of rethinking the answers and getting paranoid haha I answered the same as you! Hope we are right.
I did the same with lease – self intrest, not significat, they can accept, although it was a bit tricky as I thought this is not threat at all.
I probably had around 60 marks just on substantive testing… bit ridiculous.
Hopefully I answered them sufficiently.Does anybody remember the answer for the MCQ question where proof of total was to be calculated for the commission that would have to be paid to the credit control agency?
What did people put for the audit opinion question where the irrecoverable receivable had been accounted for correctly but then the audit team discovered the amount should have been 200k more?
I think i did put unmodified, cant remember what which unmodified i selected. What did you put for the auditor opinion for the inventory lost in fire after the year end – was this part of the same requirement?
Ugh i don’t remember if it was part of the same requirement, but i recall little of that particular question. It was non-adjusting event
There was an MCQ question where you had to select two people to take over was it for engagement partner? Can anyone remember what the answers for these ones were? Think there were 4 different people to select from – think one had a family member involved & one had previous employment with the client if i remember right.
Yes, one had wife working as a financial accountant for client, one was engagement manager before current one, so 7 years ago (cool off period is 5 so i chose him) and there was quality engagement manager and one was director at client 2 years ago. I cannot remember my second option
lets discuss mcq of AA if anyone remembers! i am really confused regrding ias 10 question adjusting and non adjusting events.
Legolas17 wrote:I think that 200k wasn’t material so unmodified opinion with EoM
I am interested to know – what MATERIAL matter does the EoM refer to?
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