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It was an absolute disaster for me. My last paper 3rd time round.
Change in accounting date, basis period, capital goods scheme. Basically all of my weak points came up.
Plus i find ACCA make questions unfairly difficult. Test us fairly. No need to try catch us out.
There was one question where it had a double negative in it- “she didnt disapply incorporation relief”. i.e the person applied incorporation relief.
Hardest thing to process is all the time you have sacrificed away from family to find out results 6 weeks later and to able to resit 3 months later.
ACCA need to be less rigid and get with the times.
Tired of this now.
I had the paper variant: Q1: Timber, Q2: A breakdown of different audit scenarios relation to quality, reporting & ethics, Q3: Audit evidence in Matty PLC.
I found this paper to be a little different. For one thing, in Q1 there werent much analytical procedures to do. they didnt give that much data like in practice questions, and the figures they did give e.g. revenue etc, they calculated the percentage change for you. So that was very different to practice questions. Also regards to the expansion in Farland, they said it was in £, the same currency as Pale Ltd. So again another risk taken away.
It was a very different paper in some ways. more so Question 1. And that note at the end of the audit risk question (something about audit risk in exhibit 4, confused me).
Also question 1.(a) was in relation to Business risk as it is a first time audit. However i was a little confused as to whether the business risk being asked was for the client, Pale Ltd, or was it for the actual audit firm, Chief & Co (i think that was the name).
I answered the business risks for the client, Pale Ltd.
Anyone have any thoughts?
