Reporting Requirements of AA to BoD

KC_studentKC_student
in ICA.Ch47

For the Financial Condition Report, it states that it should include a 3-year projection using DCAT. Since DCAT has been removed from the syllabus can we replace everything that mentions DCAT with FCT? Is it a direct replacement?

Comments

  • grahamgraham

    Unfortunately, probably not in all cases. The issue is that the ICA 47 source text is from 2017 but the FCT source text is from 2019. The exam committee should really have updated both readings at the same time to avoid inconsistencies like this.

    In any case, they should not ask you a question where the source text references DCAT in the answer, but if they do, I think it would be acceptable to give the old DCAT answer (because that's what the official syllabus reading says) or state that DCAT is out of date and then provide a "sensible" answer that references FCT instead. The alternate answer you stated above is a sensible answer in my opinion.

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