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Hi, I understand that in the exam, the principal audit procedures are those procedures to be performed for audit purposes, but how about additional/further procedures? What distinguish the additional/further procedures from principal audit procedures (to earn marks in the exam)? Are there any key words for these?
Thank you.
See here for the examiner’s expectations regardng for audit procedures in Q1 https://www.accaglobal.com/an/en/student/exam-support-resources/professional-exams-study-resources/p7/technical-articles/exam-tech4.html
In short to “design principal audit procedures” at this advanced level you should be responding to the assessed risks on misstatement in an earlier part of the question.
My response above concerns Q1 – i.e. “at the planning stage”. In a different question you might be asked for further/additional procedures/evidence at a later stage of the audit e.g. you’ve done the “obvious” procedures but the evidence you have is inconclusive – so what MORE do you need to do to reach a conclusion?
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