June 2015 Section A – Suggested Answers

There are many suggestions and will comment on OT suggested answers with my reasons.
2 – an auditor NOT undertake, ans C – OT say B;
5 – Analytical procedure at Planning stage, B – OT say C; risky transaction over reliability
6 – NCA’s completeness, A OT say B. I’ve issue with this – use NCA register to tract record
9 – IAS 10 Audit responsibility, D OT say A – the FS cannot be issued before approval, key words we must pay attention to them!!!!!!!!!!!!
11 – D, OT say B; internal audit can be out-source and there work is determine by those charged with governance. They support good governance and therefore cannot be independent of the company.
12 – Goods dispatched are recorded correctly, A OT say D – regularly review unfilled order do not affect goods being invoice; therefore therefore, we MUST look at the GDN and sales invoices.

Everyone has different answers and this is what we need to share opinions – building knowledge and progress to the next level. We appreciate your reasoning and facts findings.