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Questions in section B that are knowledge questions such as:
1. Identify and explain 5 fundamental principles contained within ACCA’s Code of Ethics and Conduct. – When explaining the principles, is it okay to define them in our own words and understanding? Or do we have to state it in the exact description that the Code of Ethics says?
2. Explain the Key Audit Matters. – As well for this, can we also define it in our own words and understating, or do we have to state it the way the relevant ISA state it?
You don’t have to learn anything verbatim – but should be able to string together key words and phrases to make coherent points.
“Identify” is just that – and will be just a few words, which is why it goes with another instruction “and explain/describe”.
You introduce your query as “that are knowledge questions” – but you should expect most Qs in Section B to be application rather than knowledge Qs. For example:
(c) (i) Identify and explain FIVE ethical threats WHICH MAY AFFECT THE INDEPENDENCE OF CAVING & CO’S AUDIT OF HURLING CO
So this is not asking for a definition.
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