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Draft financial statements

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Draft financial statements

  • This topic has 3 replies, 2 voices, and was last updated 2 years ago by Kim Smith.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • January 26, 2023 at 11:01 am #677385
    alawi sayed
    Participant
    • Topics: 305
    • Replies: 355
    • ☆☆☆☆

    Hello Sir,

    If in any time we want to say that refer or check the financial statement then in this case do we have always to say refer to draft financial statement and never to say that we may check the approved financial statement or a better way to say it “check the financial statement”.

    I suppose that always the audit will be based on the draft financial statement.

    Thanks,

    January 26, 2023 at 11:47 am #677389
    Kim Smith
    Keymaster
    • Topics: 137
    • Replies: 8386
    • ☆☆☆☆☆

    You should be guided by recent published answers – e.g.

    “Cast a breakdown of revenue and agree to the general ledger, trial balance and draft financial statements.”

    It would not be appropriate to say “approved” because the audit will have finished by then (!)

    January 26, 2023 at 7:08 pm #677409
    alawi sayed
    Participant
    • Topics: 305
    • Replies: 355
    • ☆☆☆☆

    Thanks for clarification.

    January 27, 2023 at 8:03 am #677448
    Kim Smith
    Keymaster
    • Topics: 137
    • Replies: 8386
    • ☆☆☆☆☆

    You are welcome!

  • Author
    Posts
Viewing 4 posts - 1 through 4 (of 4 total)
  • The topic ‘Draft financial statements’ is closed to new replies.

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