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Thank you TX OpenTuition!!!
Passed on my first attempt after so many doubts because the Dec’22 TX exam was a rough one for me.
December 2022 exam was the first time I used Opentuition for about 90% of my TX preparation, watched all the lecture videos, used the OT study materials and practiced the exam kit, and I came out with a 73%, I was shook when I saw this score considering how the exam wasn’t so smooth for me, but somehow God showed up for me.Congrats to all that passed, and I pray for a renewed strength and provision of finance for the people who have to resist for one or two! You can do this!
Who got the payment of account question in the income tax question part of section C??
For the disclosure of the directors’ bonus, since it is material but not pervasive, a qualified opinion would be given, the qualified opinion would be qualified ‘except for’
The exam was easy to me, the mcqs were regular brain tasking, elimination kinda questions, but the theory was like picked across the exam kit.
Substantive procedures that came out it were in Valuation of receivables, Going concern and Director’s Renumeration, Audit report and review also came out.The Audit risks questions included ratios and the typical identification of risks which were relatively easier than the mock exam, it also included substantive procedures on PPE, purpose of engagement letter and it’s content
Internal Control included, direct controls, Test of controls, Control deficiencies and recommendations around Sales and payables systems, it also included a question about matter the auditor may consider to assess if internal control deficiency is significant.
So that’s just a brief summary of my question.