[agrigoryan]

@rogermellie said:
I started on question 2 cos I thought “ah transfer pricing, this I have revised and I know fairly well” but man once I got into the nuts and bolts of it it was awful but it was too late, I was already committed.

Then I did question 3 which restored my faith a bit…. If it was as bad as q2 I might have just packed up and gone home.

Q1 I answered all the bits in report format

Hopefully enough done cox I really have no appetite to do it again, my hand was aching.

It really is impossible to formulate quality analysis in the time alotted…. Just firing stuff down as fast as possible. Joke

The same commitment with Q2 made me feel frustrated(( Q3 was fair but still not sure that I managed to earn the acceptable threshold. Praying for 50 marks

[agrigoryan]

@flexi said:
I got $221 on EVA but the easy marks where in picking out what was wrong and what was right as you were asked to evaluate.whatever the correct Eva ..highly unlikely to get 15 out of 15 but very likely to get over 10 marks for pointing out what was wrong and what was right.

From my most odd comments re EVA were:

– R&D should have been adjusted to Profit and also included in capital employed
– Capital employed opening balance should have been taken
-Inconsistency between operating lease;40, while in capital employed 115, given 4 years-I think I was mistaken here
– Post-tax interest charge was not added back
– in calculation of WACC post-tax cost of debt whould have been taken, which gave 4.7%
– some comments about economic depreciation and replacement costs of assets, although there was no info in the question
-also discussed other assumptions used in teh calculation

[agrigoryan]

@n.nadiradze said:
Complete disaster 🙁 I attempted q2 and q3. But still think every question was horrible

I also attempted Q2 and Q3. But Q2 was the most awful question I have ever met(

[agrigoryan]

@relena88 said:
Also did Q3 and Q4. Q4 seemed ok at first glance but when I had to start answering my mind was BLANK. The requirements were very ambiguous for me. My feeling is that I wrote a lot but mostly rubbish…not really answering the questions.

The same feeling. I wrote a lot, but I guess most of it was meaningless(

[agrigoryan]

@mo993 said:
Same, don’t think it went well at all, flunked on the EVA calculation and was horrendously time pressured – chose questions 3 & 4 as I felt they were the “easiest” but when pen came to paper it was a lot more difficult than expected.

How did everyone else find it?

I also was a bit confused with EVA calculation. Recalculated EVA was higher than it was calculated by junior. I got 257 or sth like this

[agrigoryan]

It was horrible, especially the question with Transfer pricing.I guess I lost the whole 25 marks on that question(((

[agrigoryan]

@kru3l said:
@abbasravjani
I answered FOR 2 b
Title independent auditors report, addressees, introductory part, scope and objectives of audit., opinion being positively worded, and date

Question 2, part B was regarding the elements of an UNMODIFIED Audit report.

Possible Examples;
Date
Auditors Signature
Auditors Address
Management Representation Letter

@kru3l said:
@abbasravjani

Question 2, part B was regarding the elements of an UNMODIFIED Audit report.

Possible Examples;
Date
Auditors Signature
Auditors Address
Management Representation Letter

[agrigoryan]

I believe the time was too short for this exam. A lot to write on each question. I attempted all questions but time management was very poor and I failed to provide structured and precise answers. Moreover, in the middle my handwriting became just awful.
What abt specific questions I had difficulties tow write:
Q1-management and auditors responsibilites in teh perspective of Laws and regulation
Q3- examples of factors for each audit risk component
Q4-importance of corp governance

[Author]

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