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These are useless. Just go through every past paper you can find and thats all you need.
Peace
Hi Mike
Iv been reading through the above ED and it has a few questions regarding each topic. An example is below. Is this the type of question that may appear in the exam.
“Do users of the audited financial statements believe that the introduction of a new section in the auditor’s report describing the matters the auditor determined to be of most significance in the audit will enhance the usefulness of the auditor’s report? If not, why?”
Yep. Got to the next question full of juicy Auditing standards stated for 5+ Markers. 😀
Hi Mike,
I check te IAASB exposure draft out. I was just wondering how would we go about learning it as its quite long. Do we have to read all of it :D(will be fun). Link Below
Thought this might help us UK Paper Students
The detail of the changes outlined below in relation to Key Audit Matters are relevant to P7 (INT) candidates from the September 2016 exams onwards.
P7 UK and Ireland candidates should note that the UK’s Financial Reporting Council (FRC) did not adopt the new ISA requirements into UK standards until June 2016, therefore ISA 701 (UK and Ireland) will not become a UK and Irish examinable documents until September 2017. However, candidates should be aware that the FRC Invitation to Comment on the IAASB Exposure Draft Reporting on Audited Financial Statements: Proposed new and Revised International Standards on Auditing, which includes the original proposals of the ISA 701 requirements, is examinable as a current issue in the exam year commencing September 2016.
Further, candidates sitting the UK exam are expected to understand the Extended Reporting requirements that are expected in the UK and these are discussed below.
Cool, will take that advice on board. Last few questions.
Are you a ACCA maker? (doesnt really matter)
if so, could you tell me how the marking scheme works in q1 uk papers. lets says q1a is business risks 1b is procedures 1c is ethics. How would i go about splitting the marks or is it like 1 mark per point. eg. write 5 business risks 8 procedures and 18 ethical matters. (highly unlikely)
If you get what im saying
thanks
Hi Mike
Iv seen the link but i have read the article on KAM and it states this
(Candidates attempting P7 (UK) or (IRL) adapted papers do not have the new and revised IAASB standards as examinable documents from September 2016, however the FRC Invitation to Comment on the standards is examinable as a current issue)
really confusing!