Part (c) for 4 marks required an identification of the main areas to be included within Minty’s audit strategy document and an example for each area.
This question, where attempted, was poorly answered by most candidates. Most candidates did not answer both parts of the requirement; failing to identify the areas of an audit strategy. This is a knowledge area and demonstrated a gap in candidates’ technical knowledge. Where candidates did score marks this was for providing examples, the most common answers given were around materiality, timetable and staff resources.
Those candidates who did not score well tended to repeat points made in part 1b on audit risks, despite the question requirement clearly stating “other than audit risks” or they listed out lots of audit tests.