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Hello tutor
please inform me about the topics which are tested in past few sessions for 30 and 20 marks
if possible please share the questions.
and please advise me about how to work on my exam technique
especially for the answers which are usually given partly with the big answers.Please suggest me..
I am also having some confusion regarding audit risk questions as the answer should be related with AMOUNTS, CLASSIFICATION, PRESENTATION, DISCLOSURE.I have already checked the examiner’s answer but when he says about amounts, I link my answer with disclosure for the above point, will this thing get me marks ?
or I have to write exactly on point as the examiners report
Please guide me because I am seriously worried about passing this paper
I suggest you look for yourself on the ACCA website.
ACCA say:
This question worth 30 marks will be based around a detailed scenario and candidates will be required to answer several requirements. The 30-mark question will predominantly test the areas of planning and risk assessment, internal controls and audit evidence although the scenario may focus on one particular section of the audit process. In addition other syllabus areas may feature in these questions.
I guess you have not read the query which I asked for
Please see it
I have already checked the examiners answer but I am coming up with something different and that’s what I wanted to knowas it is not 100% possible to write as per examiner’s mind
Sorry, I missed your second question.
If you can relate risks to assertions than that is good and, really, to pinpoint and define the risk you have to do that. Eg that inventory might be overvalued, that liabilities might not be complete, that presentation might be wrong.
You answer does not have to be identical to the examiners but you would expect quite a lot of overlap in what you are trying to say.
Audit Evidence;
What is the difference between A E I O U And ACCA COVER?
Why do we then get a question on substansive test for Receivables ETC?
Can someone please help me on this matter!
Thanks
AEIOU are ways of collecting evidence: analytical procedures, enquiry (and confirmation) inspection, observation and recalcUlation and reperformance.
ACCA COVER is a mnemonic for the assertions – what you need to collect evidence about.
So for example: for the assertion of existence you could use inspection; for the assertion of the accuracy of inventory you can observe the stocktake, inspect the invoices on which costs are based and reperform some of the calculations.
You can get a question on substantive tests for any item in the financial statements. In general these are tests that will use AEIOU to gather evidence about the assertions relevant to that figure.
thank you for your reply tutor
well I am still worried about the the answers I am constructing and found a lot of dissimilarities, I probably thinking more in deep and examiner is thinking it lightly.
I am really confused how to do it right
please share your tips for dealing with ICS questions which are three column and for substantive questions
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