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passed …62….

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hurray……………passed with 53…..never thought to pass this paper….

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passed with 72….I am too much happy…….cant believe

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thank you..

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I think paper was quite different from past sittings…………but not a bad one…I think it was lot more easy to do if you understand th ewordings…
Q1 was based upon a previous article upon csfs and everything was there what examiner has asked….building monitoring csf as…
Q2 a was bit confusing what to do ….I ended up with low cost in abc so recoomended to lower the price so that benefit from future compititors.
b was beyond budgeting… so was nice…def..principles…drawbacks of traditional budgets …and some realtions with scenario….

Q3 a VBM…measuring value of company by future cash flow…..value mindset…link with performance management..
b EVA very easy calculation EPS share price…but struggled to write more except two three points…
c) again linking eva to cash flow as eva has same logic as NPV and difference in traditional profil measures…
I did Q 5.was running out of time so wrote very few points on each parts although if enough time was there was a easy one….
overall marking should be easy as paper was different and was not as expected…

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hi there
any body knows what is the highest score somebody got in P2, and where to find them
thanks

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i got 83….unbelievable…..thanks to God i did it in first attempt….OT you r too good…

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68… so happy

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q4 a.i wrote self int, self revew familiarity advocay n intimidation
and 1 eg for each
b identify n explain threat
i identified as other service than audit work
audit senior working with client and then auditing
outstanding fee
audit partner n fd has relationship
discount offer to but mobile phones

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q1 categorisation of risk in inherent control and detection….
inherent….related to busiess….major customer, import of inventory, unusual contract terms
control….old n redundend plant, improper inventory count system, long delivery of inventory..
detection …i could not get time to write about it
…
q5 b audit procedures for going concern

gain audit eveindences realted to going concern
review management’s forecasts….cash flow etc
evaluate mgt assumption for going concern
examine board minute for discussion related
evaluate mgt process that make co as going concern
consider any event or conditions that indicate gc
examine co has given sufficient period for gc assumption that at least 12 mths
..

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paper was bit okay than past papers….
elements of assurance engagement….level of assurance, level of gathered evidence(detailed or less), etc..
external audit
review engagement
agreed upon procedure
compliation services

..
q5 part c would be unmodified opinion with eom para as directors were agree to disclose the issues of going concern but there were no signs of shut down or major losses this year….so only eom with unmodified opinion would be okay
…

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