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Post your comments about June 2012 F8 exam.
?How did you do? What came up? How did this paper compare to previous exams?
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Hey guys! how was the exam i wish you all all the best.
please share the topics that they tested- Topics: 0
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what was questions 1, 2 and 4 about?
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hey anybody can you share the f8 exam?
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What was the most difficult question?
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How did it go?
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Question 1.six Internal control deficiencies and remedy ,substantive procedure for assets addition and disposal,External audit vs Review engagements ,internal audit vs external audit
Question 2.purpose of audit planning ,three form of modified reports,3 sampling methods
Question 3.role of audit committee,6 threats to independence ,possible solution
Question 4.three substantive transaction for year end account balance,,inventory ,four items for working paper ,Question 5.going concern…….
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The paper was lengthy!!
i could not attempt questions worth 15 marks in total.. now i hope i get 50 out of those 85 marks.
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to everyone who posted thanks a million!
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which one of u guys will be doing the law paper
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1st: deficiencies in control system, recommendations, test of controls + substantive tests, level of assurance by external audit and review engagements, difference between internal and external audit, use of internal audit to external auditor during interim and final audits (30 marks)
2nd: benefits of planning, 3 methods of sampling, 3 types of modifications in audit report (10 marks)
3rd: ethical treats, ways of mitigating those threats, benefits of audit committee, (the last one was about internal control, I guess)
4th part a don’t remember, was worth 4 marks of such. b. Procedures concerning 2 scenarios: depreciation and contingent liability; c. don’t remember
5th: indicators of going concern, procedures to test going concern status, auditor’s responsibility to assess going concern, and impact on report when management refuses to made amendments.
Easiest paper ever. 🙂
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I don’t think time was a constraint. I finished 25 minutes prior to the end, and most of them finished it just in time.
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thanks a lot for those who posted abt the questions…..
I think it was ok very similar to the Kaplan paper in their revision kit.
If you think question 1 on the control deficiancies for 15 and 3 on engagement for 12 should get you 27 marks right there as that is bread and butter stuff.
Sure you guys done well…
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am jus happy today this exam was up to standard ,it was lengthy but i finished 15mins befor the end of exam had time to revise my answers for the first time , better than f5 ,f5 was a nightmare ,jus crossing my fingers for a pass
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i would love to thank open tuition for its resoures they are great may the lord bless u guys , i was jus revising ot lectures all the way and well explained
did poor time management due to long time no practices. can’t attempt all marks and thought more thoroughly. Hope for a pass. it’s second try.
it is fine, I spotted on every question, i think. Only my hands was almost cramped at the end of the exam!
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What were three types of modification report ?
And what was working papers thing , can anybody tell ?
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I wrote Emphasis matter paragragh , qualification – disagreement and qualification limited scope , are these right ?
i was expecting a tougher paper but the paper was much easier than my thinking 🙂 thanks God.other than question 1 most of the questions were from kaplan kit
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Q1 – 6 Weakness in IC, corresponding control recommendation and test of control. (6), substantive tests on plant additions and disposals (4), differences in level of assurance for statutory audit and review engagements (3), internal vs external audit (4), use of internal audit to external auditor during interim and final (4). [30]
Q2 – benefits of audit planning (4), 3 methods of sampling (3), 3 types of modifications in audit report (3) [10]
Q3 – role of external audit in detecting and preventing fraud (4), 6 ethical threats and mitigation (12), benefits of audit committee (4) [20]
Q4 – 4 substantive audit procedures for year end account balances and illustration of the same to inventory (8) , substantive procedures for 2 scenarios – depn and contingent liability (8) , 4 contents of working paper (4) [20]
Q5 – when is analytical testing used during audit (3), indicators of going concern (6), procedures to test going concern status (6). Dont remember the last 5 marks.
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