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When we answer about the risk of mm or audit risk and i may have to state about ias or ifrs. In this case, do i need to state about specific number of that particular ias or ifrs ??
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Taking this sentence in the Specimen Exam answers as an example “IAS 38 Intangible Assets states that an intangible asset with a finite useful life is amortised, and an intangible asset with an indefinite useful life is not.” If you had written “However, an intangible asset with a finite useful life must be amortised and only an intangible asset with an indefinite useful life is not.” you would get the same mark. However, I suggest that having added “(IAS 38 Intangible Assets)” at the end of the sentence would draw the marker’s attention to the authority for your answer point.
I think at this stage in your studies you should, as a minimum, be able to reference the standards that are examinable in FA(F3) as they are examinable also in FR(F7) and SBR(P2) – having encountered them in 3 exams I think most students would be able to reference them without undue effort in learning them.
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