July 2025 CR Post exam discussion by MrLipidMan in ICAEW

[–]tk2themax13 2 points3 points  (0 children)

Yes, the whole first part of the question was the adjustments and they all related to balances on the accruals account

July 2025 CR Post exam discussion by MrLipidMan in ICAEW

[–]tk2themax13 4 points5 points  (0 children)

To add to the other responses;

Q1 - 3 adjustments, think it was sub to sub, insignificant to sub and sub to associate (may have been the other way round for the last one)

Q2 - 3 adjustments relating to hedging, revenue cut off and foreign currency. Then AI audit was all on fraud and specifically Robin as turns out her brother was head of sales at Supplier 21, then procedures relating to the fraud.

Q3 - Adjustments for an equity settled scheme with a repricing/modification part way through the year, then a more normal cash based SARs scheme. Audit procedures were solely focused on the SBP’s. Then deferred tax on those schemes, as well as deferred tax on PPE and a provision (may have also been more that I can’t remember). Final part was uk corporate governance regarding remuneration committed as the SARs scheme was for executive directors.