• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

Congratulations to Jamil from Pakistan and Jeeva from Malaysia - Global Prize winners!
see all ACCA December 2022 Genius Hunt Competition winners >>

Specially for OpenTuition students: 20% off BPP Books for ACCA & CIMA exams – Get your BPP Discount Code >>

Lily Glass Window D12

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Lily Glass Window D12

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by Kim Smith.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • August 20, 2021 at 7:48 am #632281
    Noah098
    Member
    • Topics: 935
    • Replies: 352
    • ☆☆☆☆☆

    deficiency: The warehouse manager is to assess the level of work?in?progress and raw materials. In the past, a specialist has undertaken this role.
    It is unlikely that the warehouse manager has the experience to assess the level of work?in? progress as this is something that the factory manager would be more familiar with.
    Work?in?progress may be under or overvalued.

    Recommendation: A specialist should be utilised to assess both work?in?progress and the quantities of raw materials.

    deficiency: The warehouse manager will also estimate the quantity of raw materials.
    He may make a mistake when assessing the quantities.
    Inventory could be materially misstated.

    Recommendation: With regards to the warehouse manager, he could estimate the raw materials and the specialist could check it. This would give an indication as to whether he is able to accurately assess the quantities for subsequent inventory counts.

    ma’am don’t you think the recommendation to both the deficiencies are SPs ?

    August 22, 2021 at 5:27 pm #632564
    Kim Smith
    Keymaster
    • Topics: 100
    • Replies: 6794
    • ☆☆☆☆☆

    TOCs and SPs are what the AUDITOR does to obtain sufficient appropriate audit evidence.

    Recommendations how the CLIENT should respond to deficiencies should be a control activity or some other component of IC – SEE page 70 of the notes for the 5 components of IC.

    You are confusing two completely unrelated topics. You should be able to see that the 2nd recommendation is a control activity (there is a “check” in it).

  • Author
    Posts
Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

ACCA News:

 

ACCA My Exam Performance for non-variant Applied Skills exams is available NOW

NEW! Download the ACCA Pass Guide

FREE Verifiable CPD for ACCA Members

ACCA mock exams and debrief videos

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

Donate

If you have benefited from OpenTuition please donate.

ACCA CBE 2023 Exams

Instant Poll * How was your exam, and what was the result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Specially for OpenTuition students

20% off BPP Books

Get BPP Discount Code

Latest comments

  • misslatif on Relevant Cash Flows for DCF – Inflation effective rates – ACCA Financial Management (FM)
  • joenamakhwa on FM Chapter 17 Questions – The cost of capital
  • Amalsudheesh on FA Chapter 6 Questions Depreciation
  • John Moffat on FA Chapter 6 Questions Depreciation
  • John Moffat on PM Chapter 7 Questions Pricing

Copyright © 2023 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in


We use cookies to show you relevant advertising, find out more: Privacy Policy · Cookie Policy