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Question 3bii – June 2016 (AAA-int)

Forums › ACCA Forums › ACCA AAA Advanced Audit and Assurance Forums › Question 3bii – June 2016 (AAA-int)

  • This topic has 4 replies, 3 voices, and was last updated 1 year ago by my life.
Viewing 5 posts - 1 through 5 (of 5 total)
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  • May 27, 2021 at 2:01 pm #621905
    reem1589
    Member
    • Topics: 61
    • Replies: 17
    • ☆☆

    in york co question part bii about the legal dispute, i thought of the following point while drafting my answer ‘ the reversal is this is a material transaction for which there is no documentary evidence available which means that auditor will be unable to gather sufficient appropriate evidence which will lead to audit opinion being modified. ‘

    could you please tell me if this point is right or not. thanks in advance !

    May 27, 2021 at 6:44 pm #621950
    Kim Smith
    Keymaster
    • Topics: 100
    • Replies: 6804
    • ☆☆☆☆☆

    If you read the answer it is clear that there is credit for comment on lack of evidence – but it would be premature to comment on reporting implication when there is still “further action” to be taken as prompted by the requirement.

    PLEASE use the ask the tutor forum if you want a tutor response.

    June 21, 2021 at 4:39 pm #626005
    my life
    Member
    • Topics: 1
    • Replies: 35
    • ☆

    Hello Mr. Smith. Is it important to quote the relevant standards (ISA, IAS and IFRS) when answering questions in AAA?
    Also, is it how it is done in practice? Thanks Sir.

    June 21, 2021 at 5:55 pm #626008
    Kim Smith
    Keymaster
    • Topics: 100
    • Replies: 6804
    • ☆☆☆☆☆

    Short answer NO – please see these two related posts:

    https://opentuition.com/topic/citing-isa-in-the-exam
    https://opentuition.com/topic/isa-14

    PLEASE remember to use the Ask the tutor forum for a tutor response.

    In practice, audit manuals will reference ISAs as the authority for a firm’s procedures – just as an IFRS disclosure checklist will reference relevant IFRSs as the authority for required disclosures.

    June 22, 2021 at 12:33 am #626019
    my life
    Member
    • Topics: 1
    • Replies: 35
    • ☆

    Ok sir thank you. I will do that next time.

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