- This topic has 74 replies, 39 voices, and was last updated 9 years ago by
.
- Posts
@chris165 said:
I think the phrasing of part (ii) was a clue that the residents and library users currently have low power. Here’s what I thought:Science Company:
High Power:
Can bring 500 jobs to the area or if they don’t like the LGA terms they can go elsewhere.
High Interest:
Hoping to establish a new profitable business operation if terms are rightLocal Residents:
Low Power:
As individuals can’t do a lot. Must obey laws and eventually comply with eviction terms
High Interest:
Would you like to be kicked out your house?Potential Library users:
Low power. Similar to residents. The possibility of creating 10 jobs doesn’t have the same leverage as creating 500.
High Interest:
If things don’t go there way they won’t get their library at all…I did the same as above….
@neke said:
The question asked for “roles’ of audit committee. What you wrote up there are the benefits of having an audit committee/ The duties (roles) of the audit committee are:
1. Review financial statements
2. Review internal controls
3. Review internal audit
4. Review risk management
5. Relationship with external auditors
6. InvestigationI think i just wrote media and protests so hopefully pick up a couple of marks then as that seems to be general consensus!
Yes maybe it s a tricky question..and the correct answer is low/low…why is the question referred to 2 stakeholders of the same category..?I don t know..
@sobieski said:
Ways of increasing the influence:
1. Sue the Local Government. Even if they do not win the case, it will delay the demolition.
2. Refuse to leave the premises.
3. Increase to public sensibility, via press, TV, media.Not sure if this is what the examiner actually wants to hear from us.
Regarding the Mendelow, what did you write? how did you categories the stakeholders?
Mine was:
– Government / Shareholder – High Power / High Interest
– Public Library Potential Users – Low Power / Low Interest
– Tenants of the social housing – Low Power / High Interest.Can anyone confirm / infirm it?
I put pretty much similar for the public interest bits so fingers crossed for a few marks!
I went for low power/high interest on library users but otherwise same as you. Didn’t really write much on that answer though so not sure how other marks were picked up!
@dpsarros said:
Yes maybe it s a tricky question..and the correct answer is low/low…why is the question referred to 2 stakeholders of the same category..?I don t know..haha)) had the same logic
Besides that, I wrote that Library users could as well benefit from the park (leisure, recreation purposes), therefore their interest is somehow split. I don’t think they want that library so bad that they would go against the development of the city and the minimum 500 jobs the society will gain. ah, and the unemployment group might as well cease to exist 🙂Do you remember if it was an 8 marks question..I wonder if it demanded to write8 roles for the audit committee..
@dpsarros said:
Do you remember if it was an 8 marks question..I wonder if it was requested to write 8 roles for the audit committee..Any answers?
dpsarros, i really don’t remember…
My answer of role: CLARISSA. And I think it will get some points.Yes my answer was Clarissa too. I didn’t realise it was the benefits ? Thought it was the roles at the time. Ohwell
in opentuition notes CLARISSA stands for “Role and function of the audit committee”
@sobieski said:
in opentuition notes CLARISSA stands for “Role and function of the audit committee”I would like the tutor to clarify this. I was under the same influence that CLARISSA is what we had to write about 🙁 It did not say anything else just roles of audit commitee and second part was relationship with internal audit
@angelamalta said:
Hi Neke, page 44 of open tuition notes, role of audit function – CLARISSAI thought the question asked about the roles performed. Clarissa is more to do with benefits I thought but not sure. I wrote:
-verifying accuracy of financial
– monitor internal controls and assess effectiveness
– assessing external audit with regards to independence
– agree audit fees with external audit
– monitor and approve non audit services
– assess scope of work by internal audit and assess if effectiveI think it asked the principle roles of that specific committee. So it had to be extracted from the case.
So, i just wrote-overlooking audit function, verification and internal control review.
I did however mention just in one para the main roles of the committee.
hope i am right !!! 🙁
Hi David don’t remember if asked for roles performed, believe asked for principle roles. I quoted both Clarissa and as much as I could remember with the word review ? The open tuition notes state Clarissa is (amongst others) the role of the audit function. We shall all see in July. I wish the best of luck fir all of us. Now let’s go enjoy summer.?
Easy material to get through and understand, but the examiner expects you to answer in a ‘prescribed’ manner – tricky.
The paper was okay but lack of time of management was the issue. Too much to be done within 3 hours so you need to manage your time to finish. Hope for a +50%.
“Ways of increasing the influence:
1. Sue the Local Government. Even if they do not win the case, it will delay the demolition.
2. Refuse to leave the premises.
3. Increase to public sensibility, via press, TV, media.Not sure if this is what the examiner actually wants to hear from us.
Regarding the Mendelow, what did you write? how did you categories the stakeholders?
Mine was:
– Government / Shareholder – High Power / High Interest
– Public Library Potential Users – Low Power / Low Interest
– Tenants of the social housing – Low Power / High Interest.Can anyone confirm / infirm it?”
I agree and wrote the exact same as you with exception of your points 1) and 2) above. Influence I thought was all about raising power – I guess you could say refusing to leave premises but not sure on legalities of that since it is social housing owned by the government – they could still do this but ultimately leads to your point 3 with increased negative coverage towards government. With point 1) can they sue government – I have no idea.
I totally agree. Q3 part b or c was to discuss relationship of scenario. The scenario had 3 or 4 basic points relating to itself.
If i remember correcltly the requirement was to describe FOUR roles of audit committee, I went with oversee internal audit work, review external audit, review of internal control system and monitor integrity of FS.
- Topics: 0
- Replies: 1
- ☆
I feel the questions it is ok. However the time management is still required to ensure the marks reach as high as possible.
https://www.accaglobal.com/content/dam/ACCA_Global/Students/prof/p1/P1/j16_hybrid_P1_q.pdf
Guys the paper is out. Don’t know if anyone had a look
- You must be logged in to reply to this topic.