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I left a comment yesterday but it seems it did not get posted. Too bad.
I also got the one with due dilligence, the one that wants to close 3 of the facilities in Europe and the one with business risk, materiality and data analytics (clothes retailer).
Good luck, everyone, fingers crossed!@jazzy. I mentioned similar points except for provision, I did not write anything on that. What did you mention for inventory?
For inventory I think I mentioned lots of hardware stores and lots of transactions so risk there, I also said risk that trends change quickly and stuff becomes obsolete so potentially overstated if not impaired for fashion changes etc
Otherwise the accounting treatment was accurate right, I got so confused when it stated tools and equipments. I was thinking at first what if this should be treated as ppe because they mentioned professional builders . Too much time passed on this one
Yeah the treatment was right, I just tried not to say too much about it cos it wasn’t a significant issue but just mentioned there was a risk it wasn’t maintained through changes in trends and obsolescence etc!
Think it mentioned internally generated brand name but they didn’t recognise that so I didn’t really talk about that cos it’s right not to recognise internally generated..
My audit opinion was a qualified “except for” opinion with a corresponding basis of qualified opinion paragraph. It resulted out of a material disagreement with the application of the accounting standards.
I don’t think this was an unfair exam. The difficulty at this level is that no matter how many questions you practice, it’s always an entirely new scenario when you get into the exam. And when you’re under time pressure with no time to consider the scenario like you would in real life, it makes it very difficult. Honestly I could have easily used up another hour in the exam.
Hi, I have a question ask you, the recommendation is about the recommendation of audit procedure for warranty right? Because I worry that I see wrongly.
Why warranties in this question was significant, could you tell me what you wrote
@mandey in ROMM question you remember which risks were asked to ignore.
In the Cherry Co question for the report impact – had the management agreed to correct any of the issue – PPE or operating cost or restructuring programme?
Ran out of time, used more than 1and half on the first question alone. Exam was fair though
Hello. I’m sitting for Dec 23 exams, and seeing your answers here, it appears different people had different questions ? Is it on the basis of UK variant , Int variant ? Or with CbE, each candidate can have different set of questions ?
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