Question 5c
Marking Guide
up to 1 mark | for each element identified |
up to 1 mark | per explanation |
overall maximum of 6 marks | for identification |
overall maximum of 6 marks | for explanation of elements |
– opinion on all pages | |
– audit in accordance with most international standards on auditing | |
– maximum assurance, free from all misstatements | |
– responsibility to prevent and detect fraud and error | |
– we prepare financial statements | |
– procedures depend on availability and experience of team members | |
– we express opinion on effectiveness of internal controls | |
– did not evaluate overall presentation of financial statements | |
– considered reasonableness of new accounting estimates | |
– did not review accounting policies | |
– relied on work of independent expert | |
(12 marks) |