Audit Trail - April 2019

Discussion in 'CP2' started by Viki2010, Aug 13, 2019.

  1. Viki2010

    Viki2010 Member

    The section "Data Checks" is in the Methodology section of the Audit Trail.
    Is this a preferable approach to inserting "Data Checks" after the "Data" section?
     
  2. Viki2010

    Viki2010 Member

    And another follow up query. Should we include info about excel functions used for the data checks?
     
  3. Dar_Shan0209

    Dar_Shan0209 Ton up Member

    Hi Viki

    Ideally I would go with the option of inserting the data checks before the methodology for 2 reasons:
    • sometimes the parameters section does include some data or even some important information with regards to the data.
    • makes sense before starting running the model (methodology) to check the data.
    As for your second query, since the audience of the audit trail is a fellow colleague, I would definitely give detailed information with regards to the excel functions used for data checks since the idea of audit trail would be the colleague could later catch up with your work. Maybe I would be phrasing like this: "At the top of each auto-checks, an error count has been added using the “COUNTIF” function which counts the number of errors that is present."

    Hope this helps.
     
  4. Viki2010

    Viki2010 Member

    Thanks Darshan. I agree with your points above and this is the exact approach I would use in the exam. However, the model solution from IFOA shows the opposite and hence I've created this topic. Further, past papers would use the same approach as chosen by us. There is a lot of inconsistencies in model solutions across the past papers.
     
  5. Dar_Shan0209

    Dar_Shan0209 Ton up Member

    You're welcome Viki. I agree with you, as there are a lot of discrepancies in what they say and what is done with the report. I guess this is because the paper setters are different with sessions and with different topics, the way they present/mark differ a lot. I don't rely on the examiners' report that much for this reason.
     

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