MEMORANDUM OF FINDINGS
CRN : CRN-XXXXXX Session: Autumn 2021
Paper: Audit and Assurance
Your Performance in attempted question
Maximum Not Good Above Passing Below Poor Zero
marks Attempted Passing passing
> 75% 51% to 50% 25% to <25%
75% 49%
A.1 BULLE01 mark for mentioning each risk 7.0
A.2 (a) 01 mark for mentioning each requirement for appointment of auditor 3.0 Yes
(b)
BULLDiscussion on whether advertisement can be made 1.0 Yes
BULLMatters to be considered before placing the announcement in newspaper 3.0 Yes
BULLDiscussion on discount offered by the audit client 3.0 Yes
(c)
BULLIdentifying and discussing the threats 4.0 Yes
BULL01 mark for each safeguard 3.0 Yes
A.3 (a) 01 mark for mentioning each audit procedure 10.0
(b)
BULLEvaluation of misstatement in the financial statements and its materiality 4.0 Yes
BULLDiscussion on the audit opinion to be expressed 4.0 Yes
A.4 BULLE0.5 mark for identification of each weakness 2.0 Yes
BULLE01 mark for stating the implication 4.0 Yes
A.5 BULLE01 mark for identifying unexplained fluctuation and inconsistency 4.0
BULLE0.5 mark for each key audit procedure to address the issue identified 6.0
A.6 BULLEEvaluation of the need to amend the financial statements 3.0 Yes
BULLE01 mark for each auditor's course of action 7.0 Yes
A.7 BULLE01 mark for identification of each shortcoming 3.0 Yes
BULLE01 mark for suggesting each change 3.0 Yes
A.8 (a)
BULL01 mark for discussing each application control 4.0 Yes
BULL0.5 mark for mentioning each example 2.0 Yes
(b) 01 mark for mentioning each general control 3.0 Yes
A.9 (a) 01 mark for mentioning each factor to evaluate the competency of auditor's expert 3.0 Yes
(b) 01 mark for mentioning each course of action 3.0 Yes
(c) 01 mark for mentioning each responsibility of the auditor 4.0 Yes
(d) 01 mark for mentioning each factor to assess the competency of internal audit 4.0 Yes
function
(e) 0.5 mark for mentioning each example of system log 3.0 Yes
100
Other Comments:
(i) You failed to apply the relevant knowledge of ISAs to scenario based questions.
(ii) It seems that you have not studied the topic "Code of Ethics for Chartered Accountants"
THE END
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MEMORANDUM OF FINDINGS
CRN : CRN-XXXXXX Session: Autumn 2021
Paper: Audit and Assurance
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