BPP VLE - A&A 2019 - Step 6 Exam Questions & Answers

BPP VLE - A&A 2019 - Step 6 Exam Questions & Answers Benefits of examination of forecasts - ANSWERS- Independent opinion from external source - Enhanced credibility of compilation of forecasts - Confirmation that data and controls are subjected to rigorous review and examination - Comfort to bank that risk of management bias is reduced Purpose of working papers review - ANSWERS- Work has been performed in accordance with professional standards and regulatory and legal requirements - Significant matters have been raised for further consideration - Review by more senior staff as they have more experience/greater expertise - To see if there is a need to revise the nature, timing and extent of work performed - The work performed supports the conclusions reached - Work performed is appropriately documented/evidence of work done - The evidence is sufficient and appropriate to support the auditors' opinion in the auditor's report - The objectives of the engagement procedures have been achieved/work done in line with audit strategy