Hello, While I was going through the Specimen Paper 2 that is available on the Institute website, I had a quick question on my mind and would appreciate your view on this. For Paper 2, we have audit trail that has been already provided by the other student (and which seems to be the exactly the same as the solution for Paper 1). Am I correct in thinking that we can use this audit trail to draft the Summary? For example the assumptions in audit trail - can we use this for the Summary report and do we get a full mark on this? (i.e. not get penalised for the fact that we are utilising the audit trail provided). I would appreciate your comments on this. Many thanks in advance CA2 student
I would say yes it should be a valid thing to gain mark for particularly if comment on the validity of the assumption eg is it a material oversimplification, or a blatantly wrong assumption! You are using the data supplied in a suitable way so it certainly shouldn't be penalised. The audit trail I think is definitely a good start to writing a summary.
As bystander says, it's a useful way to start writing the summary. But you should make sure that the assumptions are still valid, given any changes you may have made to the model, and also expect that a few may need to be added following anything you've done. As with anything in your summary, sense check it before just including it. The assumptions section is really the only one that you can do this with though. Remember that the summary has a very different audience and purpose to the audit trail - so the tone and content will need to differ in other sections. Good luck with your exam
Thank you for the helpful comment. Few days ago, I also saw from one of the examiner's report that it was disappointing to see candidates not coming up with their own/any further assumptions in the summary (other than those already provided in the audit trail). Thank you
