• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Ask AI
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for March and June 2025 exams.
Get your discount code >>

Regarding audit of performance information

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AAA Exams › Regarding audit of performance information

  • This topic has 5 replies, 2 voices, and was last updated 1 year ago by Kim Smith.
Viewing 6 posts - 1 through 6 (of 6 total)
  • Author
    Posts
  • March 1, 2024 at 8:22 am #701526
    JohnnySins
    Participant
    • Topics: 58
    • Replies: 38
    • ☆☆

    Dear sir, When an auditor audits a public sector is he auditing the statements regarding The 3 es issued by that public sector. (if the public sector claimed to have reached its targets) are we checking if the claim made my them if true and fair as we do with the FS audit.
    sir in addition why do we also have to check the reasonablness of the figures used if it is not reasonable why do we have to decline cant we just take the work and just say it is not true and fair since we are getting paid.

    March 1, 2024 at 9:50 am #701537
    Kim Smith
    Keymaster
    • Topics: 133
    • Replies: 8286
    • ☆☆☆☆☆

    For a public sector client and auditor may be doing a FS audit and/or a “performance audit” – if the latter, then yes the audit is an examination of “efficiency and effectiveness, having regard for economy” (i.e. VFM).

    The audit objectives concern:
    – Data reliability (e.g. accurate and complete);
    – Quality of content (e.g. relevant, comparable and verifiable); and
    – Compliance with reporting requirements (e.g. timely).

    There is no “true and fair” – the subject matter is not financial statements.

    Generally, a practioner should not take on any assignment if from the outset they do not think they can meet the reporting requirements – this would be a precondition before accepting the assignment.

    March 1, 2024 at 2:56 pm #701573
    JohnnySins
    Participant
    • Topics: 58
    • Replies: 38
    • ☆☆

    sir in other assurance audits (social audit , env audit, performance audit) We are not the ones making the report right we are just checking for the Data reliability (e.g. accurate and complete);
    – Quality of content (e.g. relevant, comparable and verifiable); and
    – Compliance with reporting requirements (e.g. timely). given to us by the management.?
    is this true?

    March 1, 2024 at 3:00 pm #701574
    JohnnySins
    Participant
    • Topics: 58
    • Replies: 38
    • ☆☆

    the measurement metrics are made by the management yes? its not the auditors Job

    March 1, 2024 at 3:06 pm #701575
    JohnnySins
    Participant
    • Topics: 58
    • Replies: 38
    • ☆☆

    are social information audits and social audit two different things sir? IN the AAA sylubus which one do we focus?

    March 1, 2024 at 4:39 pm #701587
    Kim Smith
    Keymaster
    • Topics: 133
    • Replies: 8286
    • ☆☆☆☆☆

    In all assignments that might be given as scenarios the practioner (“you”) will be evaluating the subject matter that is put before you so you will not be calculating KPIs etc for management (that is what is examined in APM).

    It would be social information, environmental information, etc that you would be reporting on (e.g. information included in an integrated report).

  • Author
    Posts
Viewing 6 posts - 1 through 6 (of 6 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

Donate
If you have benefited from our materials, please donate

ACCA News:

ACCA My Exam Performance for non-variant

Applied Skills exams is available NOW

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

ACCA CBE 2025 Exams

How was your exam, and what was the exam result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Donate

If you have benefited from OpenTuition please donate.

PQ Magazine

Latest Comments

  • MikeLittle on Civil Law, Common Law, Criminal Law – ACCA Corporate and Business Law (LW) (ENG)
  • beata443c on Civil Law, Common Law, Criminal Law – ACCA Corporate and Business Law (LW) (ENG)
  • heary123@ on Group SFP – Unrealised profit and inventory in transit – ACCA Financial Reporting (FR)
  • heary123@ on Group SFP – Unrealised profit and inventory in transit – ACCA Financial Reporting (FR)
  • John Moffat on PM Chapter 15 Questions Financial Performance Measurement

Copyright © 2025 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in