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Hi sir,
1) regarding procedures for forensic accounting service
Can we as manager make general /low level procedures Like
watch cctv
Inspect the boxes of goods
Perform inventory count
Agree
ReconcileAs i think we as manager should review the reconciliation done by staff and general overlook /analyze not reconcile
Plz clarify
2) steps taken in planning forensic accounting service . Are they knowldge based which we have to memorize them?
Thanks
1. The requirement is to recommend the procedures – there is no suggestion that someone of manager level will carry them out in person.
2. AAA cannot be rote-learnt and memorised lists are more likely to be a hindrance than of any help in the exam because every Q is different. The steps depend on the issues (matters) of the assignment in question.1) You are a (manager) in the audit department of Kennel & Co, responsible for conducting engagement quality control reviews on listed audit clients.
Thats what the intoduction says?
2) in p7 its always the case that the manager carry out the procedures so monitoring/review role not Reconciling and calculating
Plz clarify my misunderstanding
Thanks
1. Yes that is your role in recommending the procedures but it doesn’t say that YOU (personally) will carry them out – someone of an appropriate level in the assignment team would carry them out.
2. Indeed the assignment manager would not be carrying out the routine procedures but reviewing the working papers/audit documentation etc to ensure that they have been carried out.
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