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Signposting of Data/Parameters in Audit Trail, CP2 Paper1

S

Sankar Krishna

Keen member
I have a query regarding signposting data/parameters provided in the Question.
There are 2 approaches that I have observed in past exam solutions
1. List the data items without any reference to Excel and mention who provided them in the Data section after Objectives. Then include a "Parameters" worksheet in Methodology section and document any formulae used or calculations/checks performed. (Example, Sep 2018 paper)
2. Include all data in "Parameters" worksheet under Methodology section with signposting to Excel cells. A separate section for data after Objectives is not created. (Example; Sep 2017 paper; Even assumptions section is not there in the solution provided)

My doubt:
Will it suffice to just list data items without any reference to Excel in data section and then further explain formulae/calculations if any in Parameters worksheet i.e., follow approach as listed above?
Will marks be penalized for not signposting data to Excel cells? (Approach used in 2018 Sep; solution provided as part of Examiner's report)
 
Hi Sankar

I think you mean how to document the data/parameters in the audit trail, but let me know if you mean something different.

It is always worth saying the source of any data or parameters, and the question usually says where these have come from. We would always recommend documenting everything in your model in your spreadsheet, so if you have a parameters section or worksheet, document this in your audit trail. It doesn't need to say much, and shouldn't include the values for any parameters, but it is useful to say what parameters are included. Similarly for the data, make sure it is clear in your audit trail where the data is (give the name of the worksheet, for example) and give a brief explanation of what data was received, along with the source. Obviously you should then document any data checks in detail too.

I hope this is helpful and answers your question.

Sarah
 
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