- August 25, 2020 at 1:40 pm #581920yt3401Participant
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My exam is in less than 3 weeks. I’ve gone over the kaplan study text twice and am now doing questions. however, whenever i see a question i go completely blank. this happens especially with the substantive/audit procedures questions. i cant think of a single procedure. do i have to memorize many procedures for all the balances/transactions for specific assertions? i dont think that will be possible at this point. i just dont understand how to come up with substantive/audit procedures so if anyone has any tricks of easy way to come up with them I would really really appreciate the help.. i feel like i dont know anything and its as if i havent even taken the AA course..im really struggling and cant answer questions..i have to look at the answers..i understand what they are explaining in the answer but I CANT COME UP WITH THESE PROCEDURES MYSELF and its so upsetting
please help me out as soon as possible
thank you so much :'(August 25, 2020 at 3:00 pm #581931Kim SmithKeymaster
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If you looks at the recent threads you will find numerous similar posts in which I have referenced articles, for example this one: https://opentuition.com/topic/substantive-procedure-15
Please also LOOK at my sticky “starred” posts at the top of this forum:
* NEW AA articles!
* How to score marks in AA – essential guidance
You will see in the essential guidance that memorising answer points will not serve you in the exam.
I think you need to take a step back and rather than think this is all beyond you try and imagine some scenarios that you can relate to – imagine you receive a letter from a solicitor telling you that you are now the proud owner of an inherited property worth $0.5m – how would you go about confirming that the property exists? that you own it? that it’s worth $0.5m?
Or you decide to sell something on ebay and after you’ve despatched it, the customer demands a refund, claiming that it was damaged and says they have returned it to you. Do you owe them the refund? What will be your defence (evidence) if they take you to court for the refund?
You CAN come up with procedures by yourself.August 27, 2020 at 2:53 pm #582333faizafayyazParticipant
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i have tried everything by now, reading articles, the textbook, watching lectures, watching videos about how they’re supposed to be approached but here i am, it’s been THREE hours and i’m trying to figure out why my answers are so different from the model answersAugust 28, 2020 at 10:40 am #582470Kim SmithKeymaster
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I understand that many students who are not “in audit” find some of the subject matter difficult but I have directed you to all the key sources of guidance that I know have helped other students. Perhaps your answers are not “so different” as you think – maybe there is someone you can ask (a colleague or PER supervisor?) to look at your answer to Q18 of the M/J18 exam against the “Read the mind …” article (as flagged in this post https://opentuition.com/topic/how-to-score-marks-in-aa-essential-guidance)
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