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risk and Response

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › risk and Response

  • This topic has 1 reply, 2 voices, and was last updated 1 month ago by Kim Smith.
Viewing 2 posts - 1 through 2 (of 2 total)
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  • May 16, 2025 at 10:44 am #717292
    ashiswar1003
    Participant
    • Topics: 33
    • Replies: 11
    • ☆

    Audit risk
    New bank loan
    Esk Co has borrowed $2.5m from the bank under a five-year loan. If the loan is not allocated correctly between non-current and current liabilities, this would lead to a classification error with liabilities being misstated.

    And Auditor response that I wrote is

    Reperform the loan amortization schedule and verify that the classification between current and non-current liabilities is accurate and consistent with the loan agreement and relevant accounting standards.

    Is the response good ?
    Do I get 1 out 1 on it or not sir

    May 16, 2025 at 11:55 am #717293
    Kim Smith
    Keymaster
    • Topics: 133
    • Replies: 8304
    • ☆☆☆☆☆

    Sorry I cannot look at this – you write one sentence and other will write two – then three – it is “the thin end of the wedge” if I reply and I have been flooded with requests before, and it is not within my remit to answer questions about students’ answers rather than published answers. Thank you for understanding.

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