Question 2 - Set up

In this lesson

1. 0:00 Engagement quality review overview
2. 2:46 Structuring your answer for 20 marks
3. 4:35 Exhibit analysis and key issues identified
4. 6:00 Post-year-end acquisition implications
5. 6:25 Audit delegation and revenue concerns
6. 6:40 Intangible assets audit quality issues
7. 6:55 Significant component identification problems
8. 7:27 Missing audit evidence and review gaps
9. 8:03 Breaking down marks across four areas

About this lesson

You'll discover how to structure your answer effectively around four key problem areas—post-year-end acquisitions, outsourced audit work, intangible asset valuation, and subsidiary risk assessment—ensuring you capture all 20 available marks plus the five professional marks for evaluation and judgement. The video walks you through the question setup where you're positioned as an audit manager conducting an engagement quality review on a listed group entity. You'll learn to identify quality management concerns related to ISA 220 and other International Standards on Auditing, while also spotting broader professional matters that demonstrate commercial acumen. The tutor explains the marking structure, showing you how to develop five distinct, relevant points within each of the four issue areas to build a comprehensive, well-structured response. You'll also understand the importance of breaking down your answer into digestible sections rather than writing one continuous block of text. This approach helps both you and the marker follow your reasoning while allowing you to layer in the depth of analysis and professional scepticism needed to earn the full professional marks. By the end, you'll have a clear framework for tackling similar engagement quality review questions in your AA (Audit and Assurance) exams.

Duration: 9m