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Hello dear tutor
I know that this question had been asked you many times but please answer it again if it is possible:
In some questions the examiner said:”matters to be considered” when reviewing final audit working papers…what matters should be considered?this is the reason for my confusion:
*in some questions such as June 2008-Q3bi,Dec 2009-Q2a the examiner considers these matters:
-materiality
-acconting standard and disclosures
-risks*In some questions such as June 2009-Q3a,Dec 2010-Q3 the examiner considers these matters:
-materiality
-accounting treatment
-risk
-effect on reportSo what should we do in the exam ie:should we talk about the effect on report?or it depends on the marks available for that part or other things?
If yes,what about time pressure in the exam…Please advise me what matters should be considered when the examiner asks “the matters to be considered in the exam”(by considering all matters such as time pressure in the exam)….
Thank you in advance
The only difference that you have identified is that sometimes the effect on the audit report is included
Otherwise the answers are ‘identical’ and include materiality, accounting treatment and risk
I suppose a belt and braces approach would be most sensible – why omit something (effect on audit report) when there is precedent for it to be included (June 2009-Q3a,Dec 2010-Q3)
Are you sure that the question requirements are identical?
Yes…
I am sure about the requirements..Okey…I will write about the effect on the report as it is simple and needs one or two more sentences…
Maybe by the new approach(being allowed to write in 15 minutes planning time) I can find 1 more minutes to do that…
Thank you
That extra 15 minutes … you need to think very carefully about how you use it!
Of the 195 minutes in the exam you should be spending 50 of those minutes just READING and PLANNING the answers that you are going to write in the remaining 145 minutes
So that’s 1 minute 27 seconds per sentence / point / paragraph for the next 145 minutes
OK?
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