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In a given situation, we are in 2021 and we are auditing financial statements for 2015 (6 years ago). One of the standards was amended in 2020 (last year).
When we are auditing the f.s. do we:
a) use the original standard sine the f.s. is for 2015 before the amendment? or
b) use the current amended standard since it is now being audited after the change?
All AAA Qs should be considered to be answered in “real time”. So if a Q has a “year ENDING 30 September 2015” that is most likely a question from June 2015 and at the time it was set the examinable documents would have been those published before 1 September 2014. That’s why you must have a current Revision kit published by an Approved Content provider – because they are required to be technically updated.
Since about September 2018, ACCA adopted the convention of “20X5” years and, if relevant, the Q will state “Today is 1 July 20X5” and you will have a year endING (i.e. in future) – say 30 September 20X5 – or a year endED (i.e. pas) – say 30 June 20X5.
You should always answer according to the IFRS relevant to the exam “year”. See Chapter 14 of the notes.