Consolidation

Area Requirement Attempt Solution Pg #

Acquisition of 100% Subsidiary [Deff CR & Cont CR] Accounting Treatment Q23 360
Acquisition of Foreign Associate Accounting Treatment + Calculation Dec 23 Q2(a) Dec 23 Q2(a)
Acquisition of Foreign Subsidiary Impact on Consolidated PNL Q 17 305
Acquisiton of Foreign Subsidiary Accounting Treatment Q 35 420
Acquisiton of Subsidiary - FV of Customer List & CL Accounting Treatment Q 42 454
Associate - Option to Acquire Further to make Subsidiary Accounting Treatment + Audit Risk Q 22 356
Calculation & Explaination of Goodwill Accounting Treatment Dec 22 Q2(a) Dec 22 Q2(a)
Contingent Consideration Accounting Treatment + Audit Risk + Audit Approach Q 25 372
Disposal with Retention of Control [OCE Clasification] Accounting Treatment + Audit Risk + Audit Approach Q 25 374
Disposal with Retention of Control [Wrong Treatment] Accounting Treatment + Action Q 40 443
Further Acquisition - Gain of Control Accounting Treatment + Audit Risk + Audit Approach [Resources + Budget] Q 30 396
How to prepare consolidated FS & FV Adj Treatments Accounting Treatment Dec 22 Q1(c) Dec 22 Q1(c)
Intragroup Transaction [Loan Transaction] Accounting Treatment Q23 361
Intragroup Transaction [Unrealized Profit] Accounting Treatment Q 35 419
Joint Operation Accounting Treatment Q 24 368
Dec 22 Q2(a) Dec 22 Q2(a)
Joint Venture Accounting Treatment Q 35 421
Q 42 453
Loan to Foreign Subsidiary Accounting Treatment Q 35 421
Accounting Treatment Q23 359
Partial Disposal with Loss of Control [Sub to Associate] Accounting Treatment + Consolidated FS June 23 Q2(b) June 23 Q2(b)
Accounting Treatment + Group Audit Issue + Action Q 28 386
Partial Disposal with Retention of Control [NCI Prop Kam] Accounting Treatment June 22 Q2 June 22 Q2
Provisional FV of Net Assets @ Acquisiton Accounting Treatment Q 35 420
Retranslation of Goodwill Accounting Treatment + Action Q 40 442
Share Options @ Acq Date Accounting Treatment Dec 23 Q1(b) Dec 23 Q1(b)
Subsidiary Becomes Associate Impact on Consolidated PNL Q 17 305
Whether Associate or Subsidiary [Control Issue] Accounting Treatment Q 17 309
Whether it is a Business Accounting Treatment Q 37 433

IAS 1
Going Concern Accounting Treatment + Impact on Audit Report Q 33 409/410
Presentation & Classification [Breach of Covenant] Accounting Treatment + Impact on Audit Report Q 33 409/410

IAS 2
Inventory in Foreign Currency Accounting Treatment Q 24 369
NRV Adjustment [Insufficient Evidence] Accounting Treatment + Impact on Audit Report Q 33 410/411

IAS 8
Change in Accounting Est - Useful Life [Error Treated Retro] Accounting Treatment + SAAE Q 39 439
Prior Period Error / Change in Accounting Estimate Accounting Treatment + Audit Risk + Audit Approach [Resources + Budget] Q 30 398

IAS 10
Fire in the Factory Impact of Fire on Audit Completion Q 22 355
Fire in the Factory [Non - Adjusting Event] Accounting Treatment + Audit Evidence June 22 Q3 June 22 Q3
Purchase of Subsidiary [NAE] Accounting Treatment + Audit Risk ne 23 Q1(a) & (b)ne 23 Q1(a) & (b)

IAS 12
Consolidation - Intra Group Sales Accounting Treatment Q 38 436
Consolidation with Provisional FV Accounting Treatment Q 38 435
Deferred Tax on Share Options Accounting Treatment + Audit Issue Q 27 381/383

IAS 16
Addition & Depreciation of Components Accounting Treatment + SAAE Q 39 439
Estimation of Useful Life Accounting Treatment + Audit Issue Q 27 381/383
Foreign PPE Revaluation Accounting Treatment Q 11 257
PPE in Foreign Currency Accounting Treatment Q 11 256
PPE Revaluation [Cost to FV Model] Accounting Treatment + Deff Tax Dec 22 Q1(b) Dec 22 Q1(b)
Revalation of PPE [Expert Changed] Accounting Treatment & Audit Issue Q 15 288
Sale of Testing Products Accounting Treatment Q 11 256

IAS 19
Bonus Scheme [No legal or Consrtuctive Obligation] Accounting Treatment [In Interrim Accounts] Q 32 406
Curtailment / Past Service Cost Accounting Treatment + Group Audit Issue + Action Q 28 387
Defined Benefit Pension Obligation Accounting Treatment + Action Q 40 443
Holiday Pay Accounting Treatment Q 20 334
Note of Plan Assets & DBO Accounting Treatment June 23 Q3(a) June 23 Q3(a)
Pension Scheme Accounting Treatment Q 20 334
Pension Scheme [OCI instead of PnL + Expert Change] Accounting Treatment + Audit Risk + Audit Approach Q 25 374

IAS 21
Foreign Currency Loan Accounting Treatment + Deff Tax Dec 22 Q1(b) Dec 22 Q1(b)
Foreign Currency Payable Accounting Treatment [In Interrim Accounts] Q 32 406
Foreign Currency Transactions Accounting Treatment + Audit Risk + Audit Approach [Resources + Budget] Q 30 396

IAS 23
Capitalization of Borrowing Cost Accounting Treatment + Audit Risk ne 23 Q1(a) & (b)ne 23 Q1(a) & (b)
 IAS 24
RP Identification & Disclosure Accounting Treatment Dec 23 Q1 (c) Dec 23 Q1 (c)
Sale of Equipment to RP Accounting Treatment Q 12 264
Loan to Director Accounting Treatment Q 24 369

IAS 33
Impact of Adjustments on Basic & Dilluted EPS Accounting Treatment Q 20 337

IAS 36
Accounting Treatment & Audit Issue Q 15 289
Impairment of CGU
Accounting Treatment + Audit Issues + Audit Procedures Q 19 324
Impairment of CGU & Allocation of Corporate Assets Accounting Treatment Dec 23 Q1(b) Dec 23 Q1(b)
Impairment of CGU [Recognized & Unrecognized GW] Accounting Treatment + Impact on Audit Report June 22 Q2 June 22 Q2
Impairment of Foreign PPE Audit Risk + Accounting Treatment & Audit Procedures Q 16 298
Impairment of Subsidiary Accounting Treatment [In Interrim Accounts] Q 32 405
Likely Impairment of Goodwill Accounting Treatment + Audit Risk + Audit Approach Q 25 372

IAS 37
Disclosure of Contingent Liability Accounting Treatment + SAAE Q 39 441
Material Provision Accounting Treatment + Impact on Audit Report Q 39 442
Planned Major Works Accounting Treatment [In Interrim Accounts] Q 32 406
Provision for Dismantalling Accounting Treatment + Group Audit Issue + Action Q 28 385
Accounting Treatment + Audit Issues + Audit Procedures Q 19 326
Provision for Redundancy
Accounting Treatment + Group Audit Issue + Action Q 28 388
Provision or Contingent Liability Accounting Treatment + Audit Issue Q 27 381/383
Redundancy & Relocation Accounting Treatment & Audit Issue Q 15 288
Provision for Redundancy [Announcement not Made] Accounting Treatment + Impact on Audit Report Dec 22 Q3(a) Dec 22 Q3(a)

IAS 38
Development Cost Accounting Treatment Q 20 333
Development Cost + Exchange of Development Accounting Treatment + Audit Issue + Procedures Q 34 412/416
Lisence Accounting Treatment Q 20 333
Purchased Research Accounting Treatment + Audit Risk + Audit Approach Q 25 373
Staff Training Accounting Treatment Q 11 259
Subsequent Expenditure on Acquired Dvp Accounting Treatment + Audit Issue + Procedures Q 34 413/416

IAS 40
Accounting Treatment Q 12 263
Anciliary Services
Accounting Treatment + Audit Risk Q 37 429
Determination of FV of IP [PPE and IP Both Cases] Effect on ROCE Dec 23 Q3(b) Dec 23 Q3(b)
IAS 16 to IAS 40 [Ceases Owner Occupation] Accounting Treatment Dec 23 Q1(b) Dec 23 Q1(b)
ne 23 Q1(a) & (b)ne 23 Q1(a) & (b)
IAS 2 to IAS 40 Accounting Treatment + Audit Risk
Q 37 430
IP to PPE Accounting Treatment [In Interrim Accounts] Q 32 406
Joint Use Property [Significant is IAS 16] Accounting Treatment + Impact on Audit Report June 22 Q3 June 22 Q3
Owner Occupied PPE Accounting Treatment Q 11 258
Valuation of Investment Property Accounting Treatment + Audit Risk ne 23 Q1(a) & (b)ne 23 Q1(a) & (b)
Whether IP or PPE [Floors Rental] Accounting Treatment + Audit Issues + Audit Procedures Q 19 322

IFRIC 1
Accounting Treatment Q 14 276
Provision of Dismantalling
Audit Risk + Accounting Treatment & Audit Procedures Q 16 299

IFRS 16
Classification of Leases Accounting Treatment + Audit Risk ne 23 Q1(a) & (b)ne 23 Q1(a) & (b)
Determining whether it is a Lease Accounting Treatment Q 14 278
Determining whether it is a Lease + [Short Term] Audit Risk + Accounting Treatment & Audit Procedures Q 22 352
Lease & Non Lease Components Accounting Treatment + Audit Risk ne 23 Q1(a) & (b)ne 23 Q1(a) & (b)
Lease Modification - Rent Concession - COVID Accounting Treatment + SAAE Q 39 440
Majority Life Lease Accounting Treatment & Audit Issue Q 15 287
Sale & Lease Back Treatment - Transfer is Sale or Not Q 19 331
Sale & Leaseback [Above FairValue] Accounting Treatment Q 30 403
Sale & Leaseback [Below Fairvalue] Accounting Treatment + Audit Risk Q 37 428
Sale & Leaseback [Option to Repurchase] Accounting Treatment + Impact on Audit Report Dec 22 Q3(a) Dec 22 Q3(a)
Sale and Lease Back [Not a Sale - P.O not Satisfied] Accounting Treatment [No Substantital Right + Return Back] Q 29 391
Whether It is a Lease [Substantive Rights] Accounting Treatment + Impact on Audit Report June 22 Q3 June 22 Q3

IFRS 2
Cancellation of SBP Accounting Treatment Q 40 446
Cash Settle to Equity Settle Accounting Treatment with Tax Q 38 436
Choice of Settlement - With Employee Accounting Treatment Q 40 446
Equity Settled SBP Accounting Treatment Q 40 446
Share Based Payments Accounting Treatment + Audit Issue + Procedures Q 34 412/414
Share Based Payments [SC + MC] Accounting Treatment June 22 Q1(b) June 22 Q1(b)
Share Options Accounting Treatment + Deff Tax Dec 22 Q1(b) Dec 22 Q1(b)
Share Options [MC + NMC] Audit Risk + Accounting Treatment & Audit Procedures Q 16 297
Share Options [MC + SC] Accounting Treatment + Audit Issue Q 27 381/382
Share Options [Non Market Condition] Accounting Treatment Q 40 446

IFRS 8
Presentation of a Reportable Segment Accounting Treatment Q 20 335
Reportable Segment Accounting Treatment Q 11 258
Segment Reporting [No Exception] Accounting Treatment + Audit Issue + Procedures Q 34 414/418
 IFRS 9
Cashflow Hedge [Because only Instrument Change] Accounting Treatment June 22 Q1(c) June 22 Q1(c)
Accounting Treatment + Audit Risk ec 23 Q1(a) & (b)ec 23 Q1(a) & (b)
Convertible Bonds
Audit Risk + Accounting Treatment & Audit Procedures Q 16 300
Derecognition of Financial Asset Accounting Treatment + Group Audit Issue + Action Q 28 387
ECL Accounting Treatment + Group Audit Issue + Action Q 28 386
Factoring [With Recourse] Accounting Treatment Q 29 390
Fairvalue Hedge of Inventory Accounting Treatment + Action Q 40 444
Forward Currency Accounting Treatment + Audit Risk + Audit Approach Q 25 373
Forward Hedge - Cashflow Accounting Treatment Q 14 280
Future & Forward Contract Accounting Treatment + Audit Issues + Audit Procedures Q 19 323
IAS 32 - Irredeemable Preference Shares Accounting Treatment June 22 Q1(b) June 22 Q1(b)
Impairment of Trade Receivable Accounting Treatment + Audit Issue + Procedures Q 34 413/417
Interest Free Loan to Employees Accounting Treatment Q 12 262
Investment @ FV T OCI Audit Risk + Accounting Treatment & Audit Procedures Q 22 350
Investment in Foreign Currency @ FVTOCI Accounting Treatment Q 29 126
Accounting Treatment Q 30 404
Loan Notes
Accounting Treatment & Audit Issue Q 15 288
Loan to Supplier Accounting Treatment & Audit Issue Q 15 289
Sale & Leaseback [Above FairValue] Accounting Treatment Q 18 317
Shares @ FV T OCI Accounting Treatment Q 20 335

IFRS for SMEs

IP / BC / Leases / IFRS 9 & ECL Accounting Treatment June 23 Q1(c) June 23 Q1(c)
Calculation of ROCE ROCE Normalized Calculation [Excluding Non Recurring Items] + Explain Dec 23 Q3(a) Dec 23 Q3(a)

Ratios
Calculation of ROCE ROCE Normalized Calculation [Excluding Non Recurring Items] + Explain Dec 23 Q3(a) Dec 23 Q3(a)
Evaluation of Financial Performance Ratios & Interpretation Q 29 393-395

SIC 32
Capitalization of Website Cost Audit Risk + Accounting Treatment & Audit Procedures Q 22 351
 Standard Area Requirement Attempt Solution Pg #
Accrued Income / Prepayment Weakness + Additional Procedures Q 18 315 / 316
Acq of S [NCI / Cont CR / FV of NA] Audit Risk + Audit Procedure Q 31 398
Component Auditor Audit Risk + Audit Procedure Q 31 398
Determination of FV of IP Audit Risk + Audit Procedure Q 31 400
Embeeded Derivative Audit Risk + Audit Procedure Q 31 402
Foreign Receivable Weakness + Additional Procedures Q 18 314
Audit Procedures
Future Contract Audit Risk + Audit Procedure Q 31 402
Long Term Contract Audit Risk + Audit Procedure Q 31 401
Redundancy provision [No Obligation] Audit Risk + Audit Procedure Q 31 402
Sale of Property Weakness + Additional Procedures Q 18 315
Trade Receivables Weakness + Additional Procedures Q 18 312
Variable Lease Payments Audit Risk + Audit Procedure Q 31 401
ISA 240 Management Bias Audit Risk June 23 Q1(a) June 23 Q1(a)
CyberAttack Audit Risk + Accounting Treatment & Audit ProceQ 28 388
ISA 250
NOCLAR Audit Implication Q 14 283
Admin Expenses Audit Risk June 22 Q1(a) June 22 Q1(a)
Audit of foreign Subsidiary Audit Risk Dec 23 Q1(a) Dec 23 Q1(a)
Bank Covenants Audit Risk Dec 22 Q1(a) Dec 22 Q1(a)
Component Auditor Audit Risk Q 42 451
Declining Profitability & Liquidity Issues Audit Risk Dec 22 Q1(a) Dec 22 Q1(a)
Different year end of P & S Audit Risk Dec 23 Q1(a) Dec 23 Q1(a)
Disposal of Subsidiary Audit Risk + Audit Procedure Dec 23 Q1(a) (d) Dec 23 Q1(a) (d)
ECL [Loss Allowance for Customer] Audit Risk Dec 23 Q1(a) Dec 23 Q1(a)
Finacne Cost Audit Risk June 22 Q1(a) June 22 Q1(a)
Going Concern Audit Risk Dec 22 Q1(a) Dec 22 Q1(a)
Impairment of PPE Audit Risk Dec 22 Q1(a) Dec 22 Q1(a)
Inexperienced Client Audit Risk Q 42 451
Inventory Count Audit Risk June 22 Q1(a) June 22 Q1(a)
Inventory Valuation - Obsolesence Audit Risk June 22 Q1(a) June 22 Q1(a)
Irredeemable Preference Shares Audit Risk June 22 Q1(a) June 22 Q1(a)
ISA 315
ISA 510 - Opening Balances Audit Risk Dec 22 Q1(a) Dec 22 Q1(a)
Legal Case Audit Risk Dec 22 Q1(a) Dec 22 Q1(a)
NOCLAR Audit Risk Dec 22 Q1(a) Dec 22 Q1(a)
NRV of Inventory [Ban on Product] Audit Risk Dec 22 Q1(a) Dec 22 Q1(a)
PPE Impairment & Useful Life Audit Risk June 22 Q1(a) June 22 Q1(a)
Revaluation of PPE [Deliberately] Audit Risk Dec 22 Q1(a) Dec 22 Q1(a)
Revenue Recognition Audit Risk June 22 Q1(a) June 22 Q1(a)
Risk of FFR Audit Risk Q 42 451
Risk of RP Transactions in Group Audit Risk Q 42 451
Share Options Audit Risk Dec 22 Q1(a) Dec 22 Q1(a)
June 22 Q1(a) June 22 Q1(a)
SOPFA Audit Risk Q 42 451
Taxation Audit Risk June 22 Q1(a) June 22 Q1(a)
Technology Change - Asset Impair Audit Risk Q 42 451
Weak Internal Controls Audit Risk Dec 23 Q1(a) Dec 23 Q1(a)
ISA 402 Outsourcing of Payroll Matters Required to Obtain U/S June 23 Q1(d) June 23 Q1(d)
ISA 500 Use of Management Expert Whether to use the work Dec 22 Q3(c) Dec 22 Q3(c)
Analysis Analytical Procedures + Areas of Concern Q 41 447 - 450
ISA 520
Analytical Procedures + Additional Info Analytical Procedures + Additional Info Q 35 425-427
ISA 550 Identification of RP Undisclosed RP Dec 22 Q3(c) Dec 22 Q3(c)
Change in Group Structure Audit Risk Q 25 370
Component Auditor Audit Risk Q 25 370
ISA 600
Group Audit Risk Audit Risk on Group Q 21 341 - 346
Modified Opinion in Subsidiary Correspondence with Component Auditor Q 40 445
ISA 610 Reliance on IA Matters to be considered Q 15 290
ISA 720 Auditing Other Information Action to be Taken on client advise Q 40 444
ISAE 3400 Prospective Financial Info Considerations before accepting Dec 22 Q2(d) Dec 22 Q2(d)
ISAE 4400 Agreed Upon Procedures Matters to be considered Dec 23 Q3(d) Dec 23 Q3(d)
Acceptance Decision Matters to be considered Q 24 367
Others
Sustainability Reporting Engagement Matters to be considered Q 15 291