Audit report

Generally 1 mark per comment:

– Inappropriate headings
– Paragraphs wrong way round
– Amounts not quantified
– Impact on financial statements not described
– Unclear from audit report if any accounting taken place for the pension plan
– No reference made to relevant accounting standard
– Use of word ‘deliberate’ not professional
– Materiality calculation
– Discuss whether adverse opinion appropriate (up to 2 marks)

Maximum marks 7