[Satesh]

Additional info could be like the results of the research and development on the new ingredient.
Terms and conditions of the loan.

[Satesh]

P7 paper: This is what I remember!!
Q1 a: Analytical Review+Audit Risks Evaluation+Additional Info reqd at planning stage for audit risks evaluation.
b: Ethical issues raised

Q2 a: Quality, Ethical and professional issues raised
b: Forenic accounting services against theft for insurance claim

Q3: Matters to consider and the audit evidence expected to find

Q4: Not attempted

Q5 a: Implications on the completion of group audit and the procedures to be performed
b: impact on the group audit report

[Satesh]

“Probably” like in IAS 37 😛

[Satesh]

@ugras05
Hey.. just an advice based on your comment.. there is a hell lot of difference b/w Audit Risk and Business Risk. Make sure that you are familiar as soon as possible.

[Satesh]

@zlip792
You look like what I had been facing for a long time. I cleared F8 in the 4th attempt and for P7 its the third attempt. My advice would be don’t be depressed now, just be confident. Thing is that try and grasp the requirements because at most of the stages you must be knowing the answer but presenting is appropriately is the key.

[Satesh]

@Rene
What do you think was the problematic area?? Mine is the 3rd attempt, scored last time 49. I was not able to get with the requirements and also that wrong question selection.

[Satesh]

Hahaha 😀 True that.

[Satesh]

Opinion itself is quite judgmental, if you write an opinion and judge it accordingly then you will get the marks.

[Satesh]

Look at this topic pls.
https://opentuition.com/topic/audit-planning-new-article/

[Satesh]

Good work man… best of luck.
I would like to add a tip;
-When attempting any past exam paper do make sure that in the end you refer to the examiner’s comments on the answers for that attempt, it is really helpful.

[Satesh]

Hey Rene.. check the link below, you will find the link for the article on Professional Skepticism. Otherwise there are no such additions to the syllabus.

https://opentuition.com/topic/article-on-professional-skepticism-ifac/

[Satesh]

I guess you should email ACCA, they gonna provide you with link or sth like that.

[Satesh]

I would rather suggest you to follow IAS/IFRS treatment in this case, because I remember there is difference in calculation even the teachers follow different methods according to the exam kit/past paper answers but you better follow the one as suggested in IFRS 3.

[Satesh]

Haha.. Thanks.. 😀

[Satesh]

Pls. delete this…
https://opentuition.com/topic/changes-in-p7/

[Satesh]

Ok, so how can i get the topic deleted?

[Satesh]

49% 🙁

[Satesh]

@piranha18.. so what u gonna do now?? ANy refunds or other exams or what???

[Satesh]

pls. forward me one sateshkumar96@yahoo.com

[Satesh]

pls. forward me one sateshkumar96@yahoo.com

[Satesh]

Thanks 🙂

[Satesh]

Guyz.. Pls. send me email also… sateshkumar96@yahoo.com

[Satesh]

@mountain123 said:
yeah I also think so…

hey guys I thought Q1(a) asked us to assess the company’s existing performance??? so I compared 2012 figures with 2011 and 2010… the question says calculate something….if it meant the format, content etc of the report were wrong, why need calculations??? did I misunderstand the question???!! my gosh….definitely gonna fail….

Ur rite… u r a deadman!!!

[Satesh]

@nurgul said:
There was no NCI because subs were 100% owned. I left easy marks on Internaly generated brand name plus the part b od Q1 🙁

I think it was not mentioned for Canary that it was 100% acquired…

[Satesh]

@faheyc2 said:
talk about co-terminus, materiality of canary, accounting standards of canary, reliance to be placed on compnent auditors, goodwill valuation, group share of post acquisitions profits, NCI….

The principal auditor was the component auditor…

[Author]

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