Today was my first test for this semester. ACCA P7 Advanced Audit and Assurance.
50 marks test: 4 Questions.
When I first read the questions,Oh! I dont know what is the question required! Although all topis I had read, but I dont know what to use to answer the question. Lolz..Until I saw the lecturer wrote this on the white board:
"Discuss why auditing profession as demanding and high risk" Only then I realised how to answer it.
She said: I dont want you guys think to far and out of topic. I have saw someone wrote about 'going concern'..too far away...That's something in your notes. First batch of your notes. *First page??* Yaaaa...Haha..XD This is the first.
Secondly, when I answer half way, the lecturer said something.
"Did you understand question four? It is asking you whether the auditor had performed a proper audit to detect the fraud on money laundering. She is operating the work for few years but never get caught! Did the auditors perform their job? *Noooo..* Why didn't the auditor detect the fraud? What's wrong with the auditor? And use ISAs!" Haha..all students gossip here and there. They must be discussing..so do I!
Really funny..and thanks to the lecturer that open up my mind to think about the answer. Although I might not give much details supporting my answer, I hope I could get mark on those points. But from here,I could see that I am not so clear on those topics, should have spending more time on it during two weeks semester break. Hope I could do that! ;)
p/s: waiting for the result...^^
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