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Evaluate the appropriateness of the cash flow forecast prepared by Rope Co and recommend the further audit procedures which should be performed. (14 marks)
maam in questions like these, how do we know how many marks are reserved for evaluating the appropriateness of forecast and that for procedures? 7 marks each? Or more marks for former than for latter?
If the marks were disproportionate – like 4/10, they would have to be split in the marking scheme. If you look at any published marking scheme, there are always more marks available than the maximum, so full marks would be hypothetically available for an answer split 6/8 or 8/6 or even 5/9 or 9/5 – though marks for procedures would generally be easier to come up with. The point is, that you don’t have to “force” 7 marks worth out of the evaluation of appropriateness – and its better to not try to do so if that means you simply repeat the same point in different words.
Absolutely got the point ma’am. Appreciate your help, always!
Just one thing, I am for some reason finding it to write procedures. In F8 there were fixed set of SPs and more or less repetitive for each assertion, so it wasn’t difficult to understand and then remember them.
But in AAA the procedures aren’t repetitive at all I feel. So any tips how to write them? especially as you said its easier to come up with procedures.
https://opentuition.com/topic/must-read-articles – see article 4
ma’am also there are certain general procedures which can be fit in every PFI question. So say the question asks for 9procedures(9marks), then how many general procedures at max should we be writing?
Even in AA, “general” procedures will not earn credit unless they are nevertheless relevant to the specific scenario. I think you should always be looking for specific procedures and 5 specific procedures would be a “pass” for this part.