software supply co
will I get marks for mentioning the reputation of Smith & Co for referring an accountancy system that are perhaps not as truth worthy from Software supply co?
And lets say if auditor, audits clients records and found that there is a problem with the accountancy system they might be intimidated to report to management as it was the auditor that recommended this system to them?
This was not in the answers but wanted to know if I may get marks for this?
Thanks
Ask the Tutor ACCA AAA
Smith & Co (June 2008)
That's why it's advisable to let the experts do the advisory work. I believe that's why Accenture split from Arthur Andersen - to separate audit from non-audit
How many marks was the question out of? And how many other points did you think of that were in the suggested solution? If the question was worth 20, could you think of 20 markable points?
Yes? Then why are you worried that your "reputation" point would score
No? So your protection point may score - it's certainly preferable to not writing anything!
Maybe not intimidation - possibly self interest / conflict of interest
Ok?
It is only 5 marks for that question. I think i will be writing anything I can possibly think off in the exam. Can you give me an example of intimidation threat? I think im getting confused with this meaning.
Thanks Mike.
If you qualify your audit opinion on my financial statements, I think you'll find that your brother who works in my research department will soon be out of a job
Of the 5 points made in the suggested solution, how many did you have in your plan?
The example above is that not familiarity threat?
I had 3 points and that's including the reputation point.
Then you need two more points - just think, if the marker doesn't like your reputation point, then you're only scoring 2 out of 5 and that's a fail at 40%
Put very simply, you need to think "out of the box", "off the wall" and all those other awful clichés. This is where planning time comes in. 5 marks? That's 2.5 minutes thinking of 5 things to say and 6.5 minutes to write them down.
That, in turn, is 1.3 minutes to write each point. How much can you write in 1 minute 18 seconds? Try it, now! And that's the MAXIMUM length of a sentence that contains just one mark able point
Re familiarity, I tend to see that as the threat of not seeing anything other than what you expected to see. You've done this audit for the last 5 years and it's always gone smoothly and you've built up a good relationship with the client's accounting staff. You're only going to see what you normally see. That's familiarity
Ok?
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