EXA - Warning

Whirlwind

Just wanted give a 'heads up' to anyone sitting the EXA exam, as there were a couple of questions that left me cold!

Subject or Not Subject to Audit - rental of premises, plant and machinery,
My reasoning was that they were not non-current assets of the company as not owned, but .....

Audit Report/Opinion - there were three options: unmodified, modified with unmodified opinion or modified with modified opinion.
Since the mocks had given me a choice of two (unmodified or modified) I was abit stumped to see three - rubbish I know!

Risks and Recommendations - one of the scenarios was a company that didn't have a formal disaster recovery plan.
I nearly said out loud 'a what!!' Started off by typing that my recommendation was drawing one up!! Waffled abit more but basically I think a 5year old could have done better.

Really hoping that this helps, as I so wish I had consider the effects of a disaster recovery plan - even now can't find it in any of the texts or mocks.