Question 3a
Marking Guide
analytical procedures | ||
| 1 mark for each valid, well explained, point | ||
| (i) | – obtain information on client situation | |
| – evaluation financial information | ||
| (ii) | – comparison prior periods | |
| – comparison actual/anticipated results | ||
| – comparison industry information | ||
| – specific procedures for individual account balances (e.g. receivables) | ||
| – ratio analysis e.g. gp% year on year | ||
| – proof in total e.g. total wages = employees * average wage | ||
| (iii) | – risk assessment procedures | |
| – substantive procedures | ||
| – end of audit analytical procedures | ||
| maximum marks | 8 |