[deza1109]

This isn’t neccesarily related to P47 but I submitted a project for P46 back in may.

Noticed my name appears once on the front page of RAP but no where else in any document. I understand my name should not be on the document at all – what will be the consequences of this?

[deza1109]

Yes, I did get that exact exam.

I didnt talk about the 4 lines of defence so that might be a problem for me but talked about general assurance mapping and how it can help. Luckily this was only 8 marks lol.

And in the first question, not much to calculate. Maybe the % difference or compare difference in sales price? Not much to say really. Talk about financial and non financial pros and cons. Benefits and problems is what they asked.

and in Q5 I made a slide just bullet pointing with a title what qualities a leader needs and in the notes explained everything

very common sensey

[deza1109]

Yes same here.

In the proposals just need to talk about the financial and non-financial benefits/problems.

Not much to calculate no numbers given except sales price and some profits and margins.
Still should be good.

Q5 was the slides on leadership. I just made a slide with a title and bullet-pointed qualities a leader needs and explained as to how it can help in the notes section

[deza1109]

Looks like there are two variants indeed.

Same company and context but different questsions some of them

[deza1109]

Yeah, 16 marks out of 20 in Question B was ridiculous.

Luckily, you could structure your answer in relation to each of the subsidiaries from the extract.

For example where they were like “The FD thinks it’s immaterial to the subsidiary so why include it in the group if need not include in the subsidiary”.

Not sure it was frustrating so many marks and its like well what do you want me to talk about lol

[deza1109]

Yes I agree, analytical procedures – you couldn’t calculate any profit margins or current or quick ratios or any of the sort.

Just had to compare revenue and differences in assets I suppose.

[deza1109]

I sat the UK exam.

Section A was:
– 24 Marks on Signifiacnt audit risks (It didn’t say significant risk of material misstatements so talking about inherent risk, control risk, detection risk seemed fine here?)
– Heavy emphasis on CGU’s and brand impairment

This question also wanted us to use analytical procedures but you can’t really calculate any liquidity ratios because of no financial statement extracts.

I assume it was fine to calculate differents and percentages in revenue from one year to the other?

Section B:

– Related to “Renley Group”
– 2 Significant components with one being foreign – asked to assess implications about a component’s subsequent events etc.
– Planning quality talks (correct me if I’m wrong but I talked about how certain procedures needed to be done as they did not do them and talked about why it had to be done).

Section C-

– Aaron Sladiart(?) Ltd – director of company where the company was facing heavy going concern issues and we had to assess if he was doing WRONGFUL AND FRAUDLENT trading.

– Cashflow assurance engagement needed to talk about the assumptions used and why it’s important to exercise professional judgement.

(Here I basically said that management are looking to obtain funding and so therefore would produce results that are overly better to paint a better picture so as to be accepted for it)

Overall, pretty annoying exam – I wanted some business risks to be asked and ideally on appraising the audit report.

Not the worst, but 24 markers on risks and 16/20 marks on quality management. Ffs

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