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My order of the 30 mark question was (a) was define the internal control elements with a table of each internal control (environment, it systems etc), (b) was internal controls already in place and what the auditor would do to test these. (c) was deficiencies and reccomendations. (D) can’t remember what this one was of….
That wages and salaries MCQ was so odd! For question 2 aswell threw me through a loop. Never had one where they give you starting number of employees and ending. I just did an average? (Hope thats right lol) also never seen one with a tax and deductions increasing. Anyway I could not match this at all with any answers so just picked the one closest to my answer (I think was second one down). All the MCQ I feel like either had no sounding right answers or a few of them could be right. No distinct answer like most past papers. Anyway hoping for the best, obviously has the lowest past rate so was expecting it to be horrific but wasn’t. That in itself is worrying
Yep I got material but not pervasive for the last question (25) so modified and qualified opinion except for. Hope that’s right. A bit of a silly question but for substantive procedures I just bullet pointed them. Does anyone know if I will still be able to gain marks this way? All of the answers I looked at had it in this format so didn’t even thunk twice. But now second guessing myself…
Section A was harder then previous past papers, a lot of tricky catch you out type questions. Was surprised at 30 marks and 2x 20 marks being very very similar to past papers completed. Seen pretty much all those questions before just different scenarios (first 30 marker on internal control, then on audit risk and materiality and performance materiality, final Q on substantial procedures for various)
I am a bit stressing now. I got GW on acquisition, and then interpretation for first question. Second one I got a single entity P&(9marks) AND Financial position (8marks) and then a segment from the cash flow think it was financial part (didn’t answer as 3 marks and ran out of time). But everyone is saying the second part was SOCIE? Did anyone else get the (b) part to be SOFP?????
Exam was annoying tbh. A lot of trick questions and section B on investment properties I knew gain was to go to P&L but stupidly talked myself into thinking revaluations go to OCI for NCA. So annoying…annoying how they basically ask the same questions again so if you get it wrong you miss 4 marks instead of 2!