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i just want to ask that most of the times the examiner has stated General procedures regarding pfi and some relating to the scenario how many procedures are required for a 8 mark question?
btw i also want to ask that whether we can verify the PFI plan such as client is planning to make new leisure park so can we verify any quotations taken by the company regarding the labour to be used in the building process.
The company is going to do the project jointly with another company so we can review that whether any contract has been signed between the two parties.
btw kindly help me in enquiry what sort of enquiries should be done regarding pfi?
In answer to your first point, it’s unlikely that the examiner will ask you only to state.
It is far more likely that the question requirement will ask you to “identify and explain” rather than simply “state”
So, for the question that you are looking at, is it an “identify and explain” or is it really “state”?
Identify and explain for 8 marks would quite likely be half a mark for the identification and 1.5 marks for the explanation
Do that 4 times (do it 5 times if you are still withing the 14.4 minutes time allocation) and you should be scoring …… so long as your points are relevant!
If the question is “state the procedures” then that will likely be 1 mark per valid point
Remembering always that this is not an audit nevertheless, when asked for negative assurance on pfi, the auditor should not hold back from confirming the bases of the spreadsheet values. (If absolutely NO work were to be done by the auditor, they could still validly give their negative assurance because nothing would have come to their attention to suggest the figures were wrong)!
Enquiries, steps and procedures? Inspect copy of contract, discuss the project with management, determine the reasonableness of assumptions used, consider the achievability of any targets, additions and calculations checked, inclusion of “unusual” items …….
Do you want more?
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