Level 4 Synoptic - Task 3
FindingNema
Registered Posts: 20
Hey guys!
I have begun my level 4 revision for my tentative resit next week in anticipation of results going south this Thursday (although hopefully not!).
Please can anyone help me understand how they would go about answering the following question for Task 3? I am aware of SPAM SOAP, however I don’t know how useful it could be for this question:
“In the scenario above, with reasoning for each point, identify 5 ways the company could be defrauded”
Is this question different from the standard Task 3 question “Identify 5 weaknesses in the scenario above. Explain the problems it may cause for the company without making any recommendation to the process”
Thanks in advance, and all the best to everyone receiving results this week!
I have begun my level 4 revision for my tentative resit next week in anticipation of results going south this Thursday (although hopefully not!).
Please can anyone help me understand how they would go about answering the following question for Task 3? I am aware of SPAM SOAP, however I don’t know how useful it could be for this question:
“In the scenario above, with reasoning for each point, identify 5 ways the company could be defrauded”
Is this question different from the standard Task 3 question “Identify 5 weaknesses in the scenario above. Explain the problems it may cause for the company without making any recommendation to the process”
Thanks in advance, and all the best to everyone receiving results this week!
0
Comments
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In Osborne books fraud is described as threat of loss of money, inventory and time, so it should be interchangeable with weaknessAAT Level 2. 2018 Distinction
AAT Level 3. 2018 Distinction
AAT Level 4. 2019 FSLC 100% MABU 93% MADC 82% PDSY 80%
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In Osborne booksAAT Level 2. 2018 Distinction
AAT Level 3. 2018 Distinction
AAT Level 4. 2019 FSLC 100% MABU 93% MADC 82% PDSY 80%
Xero Certified Advisor1 -
@dumutroba Thank you very much for the response! I normally talk about each of these individual points in the standard task 3 question where relevant, but I was wondering whether or not you think the context would differ much from the typical task 3 question? i.e. if the question is specifically asking about being defrauded, is it possible to still talk about stock not being counted properly, or is it possible to talk about wages not always being reviewed in time, or an accounting system not always being backed up etc?0
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I see your point, bur I still think it is just wording that has to be slightly different. In any case weaknesses lead to fraud one way or other, so knowing weaknesses you will be able to establish how fraud can be commited
In your example if stock isn't counted properly this could lead to error or fraud, as someone might take advantage of the weakness in the system and steal goods for own useAAT Level 2. 2018 Distinction
AAT Level 3. 2018 Distinction
AAT Level 4. 2019 FSLC 100% MABU 93% MADC 82% PDSY 80%
Xero Certified Advisor1
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