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Thank you for your input. I will go ahead and do some reading on the actual question papers.
I hope this is not a odd question to ask but, will studying the syllabus help me with building a commonsense business approach?
I am worried that I end up being overly focused with the models and get stuck with applying the knowledge.
Got groups in Q1 and Q2 (quality management) and Q3 on PFI profit forecast.
Q1 was pure 22 marks of audit risk. Now that I think about it it was a disaster. Lots of jumbled up points, and many of of those points have little to evaluate with. Very different from the past papers that I practiced.
I was hoping to get scenario information on management bias.. or an FS level risk. But I couldn’t.
Other than that, I made do with common sense for any other questions that I encountered.
I think I did fine. For what it’s worth, the questions were straightforward.
Haha, a little upset that Ben Wilson’s tips did not help me a single bit. But at the same time I’m glad, because he was tipping the hard questions (money laundering, fraud, MURGC, sustainability assurance). He mentioned group audits were extensively tested last time, so low probability of it coming out. And mine had two questions on group audits!
Btw, I’m not discrediting Ben Wilson, this just shows how you can’t rely on tips (I didn’t!)
I am surprised sustainability assurance did not show up at all. I prepped for it to mastery. (or not)
I am also glad that I did not get any pure knowledge questions in my paper.
Fair question overall. I’m glad I did Q1 last. It was the only tricky part of the paper.
poor time management on my side. spent 20 minutes more than i should on the ethics question about ai and sustainability. this resulted in ~14 marks not attempted well in q1.
q1 was on forex and soplci. again, did poorly as there were more practice questions on sofp than on soplci. goodwill and forex changes were manageable, though its very hard on the number crunching.
the tricky questions for me were separate performance obligations. and the sale and leaseback. once again, poor exam technique for taking too long to deliberate, going back and forth. also, poor time management on ethics earlier also leads to rushed answers later on.
loan notes and allowance was a weird question for me. never seen anything like that. hope i can manage to scrap some basic marks.
i would be glad if i passed. at the same time, i think i have done enough in preparing for this exam. there’s nothing else better than i could have done. all the best.