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fin instruments

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AAA Exams › fin instruments

  • This topic has 1 reply, 2 voices, and was last updated 8 years ago by MikeLittle.
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  • April 22, 2017 at 8:35 am #383053
    amawesome2
    Participant
    • Topics: 85
    • Replies: 24
    • ☆☆

    Why is it said that audit of financial instruments are challenging?

    April 22, 2017 at 11:26 am #383071
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23334
    • ☆☆☆☆☆

    Because no-one really understands them!

    Think about the introduction, growth and now widespread use of convoluted documents that trade in virtual assets.

    How do you set about auditing them?

    That’s why the comment is made that the audit of financial instruments is challenging and far more so than the audit of tangible non-current assets, or inventory / receivables / cash at bank

    Agreed?

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  • The topic ‘fin instruments’ is closed to new replies.

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