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Hi Sir Mike!
If Leases do come out on the exam, do we refer to it under IAS 17 or do we refer to it under IFRS 16?
Also are we required to show our workings on analytical procedures performed or would the answers suffice without the workings?
And could you please identify the format of the new audit report just to verify if I have the updated version.
Lastly, I may be asking this in advance, but remember when you said read and reread approx 3 times the Q&A and message you again mid August? I was just wondering what to do mid-August until the exam day? 🙂
Hope to hear from you soon. Thanks!
Best regards,
KyleIAS 17 no longer exists – so does that answer your first question?
What if you make a silly error in your calculations and arrive at an incorrect figure? How will the marker know that your “+” sign was treated as a “-” in your calculator and you have shown no workings?
Besides, you have to do the workings to arrive at a figure, so what’s the big deal about showing them?
Follow this link:
and read these two articles:
“Auditor reporting – an update for P7 students on Key Audit Matters (P7 INT) and the Extended Auditor’s Report (P7 UK)”
“The new auditor’s report”
These tell you all you should know about the new audit report
“I was just wondering what to do mid-August until the exam day? ”
If I tell you that now in mid-July, what will I have left to tell you in mid-August?
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