12-27-2006, 07:01 AM
Well Mr. Amir, the first answer u gave is very very general...
Whenever a scenario is given to u in a question, u must apply ur knowledge subject to that scenario...
In my opinion u shud have written answer specific to the general store...
Like the most important thing in a store is stock...
and u didnt mention any internal audit procedure specific to stock...
and u also didnt provide a practical example, as required in the question...
Regarding second question...
The most important assertions regarding salary are completion, existence and accuracy
Occurance, measurement and presentation are not that important to salary... But u can mention any one of them to complete 4 assertions...
But i never take other than the first three assertions for salary. As completion also shows u the occurance in proper period and accuracy shows u proper measurement. Presentation is least segnificant to salary. as the only thing separately presented in salary is the salary of executives and directors, which is not a major portion in a big company...
One recommendation to u....
Never try to generalize things in the exam. Apply ur knowledge to specific scenarios given in the exam, and attempt the question as if u r really doing that thing in that scenario...
anyways best of luck...
Whenever a scenario is given to u in a question, u must apply ur knowledge subject to that scenario...
In my opinion u shud have written answer specific to the general store...
Like the most important thing in a store is stock...
and u didnt mention any internal audit procedure specific to stock...
and u also didnt provide a practical example, as required in the question...
Regarding second question...
The most important assertions regarding salary are completion, existence and accuracy
Occurance, measurement and presentation are not that important to salary... But u can mention any one of them to complete 4 assertions...
But i never take other than the first three assertions for salary. As completion also shows u the occurance in proper period and accuracy shows u proper measurement. Presentation is least segnificant to salary. as the only thing separately presented in salary is the salary of executives and directors, which is not a major portion in a big company...
One recommendation to u....
Never try to generalize things in the exam. Apply ur knowledge to specific scenarios given in the exam, and attempt the question as if u r really doing that thing in that scenario...
anyways best of luck...
