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*** ACCA F8 June 2017 Exam was.. Instant Poll and comments ***

Forums › ACCA Forums › ACCA AA Audit and Assurance Forums › *** ACCA F8 June 2017 Exam was.. Instant Poll and comments ***

  • This topic has 116 replies, 49 voices, and was last updated 5 years ago by heychi.
Viewing 30 posts - 1 through 30 (of 117 total)
1 2 3 4 →
  • Author
    Posts
  • June 5, 2017 at 12:05 pm #390505
    opentuition_team
    Keymaster
    • Topics: 1152
    • Replies: 1366
    • ☆☆☆☆☆

    Please vote in our Instant Polls about the ACCA F8 June 2017 Exam


    Post your comments about the ACCA F8 exam below (after 5pm UK)

    June 5, 2017 at 4:06 pm #390576
    Tom
    Member
    • Topics: 1
    • Replies: 17
    • ☆

    Anyone remember the multi choice options they picked?

    June 5, 2017 at 4:08 pm #390577
    mubeenjuma
    Member
    • Topics: 0
    • Replies: 15
    • ☆

    @tom section A was hard ….B was kindah owk but time issues I remember for question 1 A A D D C

    June 5, 2017 at 4:12 pm #390579
    George
    Member
    • Topics: 0
    • Replies: 2
    • ☆

    my answers for section A (i hope are correct – most of them):
    1) C
    2) D
    3) D
    4) B
    5) D
    6) B
    7) B
    8) C
    9) A
    10) D
    11) D
    12) B
    13) C
    14) A
    15) C

    June 5, 2017 at 4:19 pm #390580
    Tom
    Member
    • Topics: 1
    • Replies: 17
    • ☆

    I think I put ADDDD which I felt was most likely wrong due to the amount of D’s ?

    June 5, 2017 at 4:48 pm #390586
    mubeenjuma
    Member
    • Topics: 0
    • Replies: 15
    • ☆

    The part that confused me is if there is analytical procedures for depreciation

    June 5, 2017 at 4:52 pm #390587
    complicated
    Member
    • Topics: 110
    • Replies: 211
    • ☆☆☆

    @tomlloyd393 said:
    I think I put ADDDD which I felt was most likely wrong due to the amount of D’s ?

    Mine was ADDDD too (I think?). Pretty sure they were right. Fingers crossed.

    For the materiality question on trade payables and accrual, anyone said that the understatement was material? I almost said that it was immaterial, but the misstatement represented 1% of total revenue and 3% of total liabilities after all. Seemed like material to me, but this has been bugging me since the exam.

    June 5, 2017 at 4:57 pm #390589
    andreashat
    Member
    • Topics: 0
    • Replies: 3
    • ☆

    If you mean for the 5 marks question it was given also the Revenue figure which for that was material.

    For the question 10 regarding the adovacy threat I have understandfrom the statement that the client was promoting the services of the Audit firm!

    June 5, 2017 at 4:58 pm #390590
    dinar73
    Member
    • Topics: 1
    • Replies: 6
    • ☆

    1.A
    2.C
    3.D
    4.D
    5.A
    6.A
    7.C
    8.B
    9.A
    10.B
    11.A
    12.B
    13.B
    14.A
    15.C

    June 5, 2017 at 4:59 pm #390591
    gwilso30
    Member
    • Topics: 0
    • Replies: 1
    • ☆

    Section A was horrible!!! I got 3 Ds in a row for 3-5, I went back at the end and changed one of my answers because I 2nd guessed myself due to the amount of Ds

    For the materiality question, a part of the question said materiality was based on revenue, since it was 1.2% of revenue I said it was material, but not pervasive.

    Fingers crossed for everyone. Hope everyone does well.

    June 5, 2017 at 5:01 pm #390593
    complicated
    Member
    • Topics: 110
    • Replies: 211
    • ☆☆☆

    @andreashat said:
    If you mean for the 5 marks question it was given also the Revenue figure which for that was material.

    For the question 10 regarding the adovacy threat I have understandfrom the statement that the client was promoting the services of the Audit firm!

    For that marketing scenario in question 10, I believe it was self-interest threat, rather than advocacy threat.

    June 5, 2017 at 5:03 pm #390594
    Tom
    Member
    • Topics: 1
    • Replies: 17
    • ☆

    Yeah i did the same with regards to the material question I put a qualified opinion as i concluded it was material but not pervasive. I think we have got that one wrong though as I think it actually was unfortunately immaterial.

    June 5, 2017 at 5:09 pm #390596
    complicated
    Member
    • Topics: 110
    • Replies: 211
    • ☆☆☆

    @tomlloyd393 said:
    Yeah i did the same with regards to the material question I put a qualified opinion as i concluded it was material but not pervasive. I think we have got that one wrong though as I think it actually was unfortunately immaterial.

    Why do you think that that was immaterial?

    June 5, 2017 at 5:10 pm #390597
    avishco
    Participant
    • Topics: 17
    • Replies: 44
    • ☆☆

    Loads of questions relating to inventory and completeness. Didn’t have enough timeto complete mcq

    June 5, 2017 at 5:15 pm #390601
    samthomas901
    Member
    • Topics: 0
    • Replies: 3
    • ☆

    @tomlloyd393 said:
    Yeah i did the same with regards to the material question I put a qualified opinion as i concluded it was material but not pervasive. I think we have got that one wrong though as I think it actually was unfortunately immaterial.

    Nah was material. Was over 1% of revenue and the question even stated that the audit materiality was based on revenue.

    On another note, how grim were the McQ’s! Averaged 20/30 in most of the past papers but don’t think I was 100% on any of the ones I put.

    June 5, 2017 at 5:20 pm #390605
    Tom
    Member
    • Topics: 1
    • Replies: 17
    • ☆

    Ahh cool think you guys might me right! Did you all day material but not pervasive?

    June 5, 2017 at 5:21 pm #390607
    Stephanie
    Member
    • Topics: 0
    • Replies: 7
    • ☆

    I said it was immaterial because the accepted materiality of revenue is 1-2% of revenue and the difference represented 1.28% of revenue & and 3.2% of PBIT, I said the impact on the audit report would be unmodified I hope I was right

    June 5, 2017 at 5:23 pm #390609
    voldemortsapprentice
    Member
    • Topics: 0
    • Replies: 16
    • ☆

    Horrible paper and questions compared to previous years’ papers.

    Paper verged towards a lot of procedure based questions and technical knowledge, and didn’t at all mention corporate governance or audit frameworks (such as strategy, etc.)

    Risk assessment – hard to find 7 risks in there but I managed it.

    Q16 – the 18 marker was simple, lots of deficiencies (I could find about 8-9)

    Overall, I found the paper okay but a lot of curveballs. Hope I passed it because audit is incredibly boring.

    June 5, 2017 at 5:25 pm #390610
    complicated
    Member
    • Topics: 110
    • Replies: 211
    • ☆☆☆

    @samthomas901 said:
    Nah was material. Was over 1% of revenue and the question even stated that the audit materiality was based on revenue.

    On another note, how grim were the McQ’s! Averaged 20/30 in most of the past papers but don’t think I was 100% on any of the ones I put.

    I agree. The MCQs in this sitting were quite thought provoking. They were usually very straightforward in the past papers but in this exam I had to think thoroughly before answering them. Luckily the section B made up for it.

    June 5, 2017 at 5:25 pm #390611
    voldemortsapprentice
    Member
    • Topics: 0
    • Replies: 16
    • ☆

    And yes it was material. It was above the revenue threshold of 0.5-1% and and above the assets threshold.

    Either way, they are never ask that question if the report stays unmodified, that would be the easiest answer in the world (I.e. subsequent event is not material, leave everything as it is)

    ACCA want to test us!! So get in their heads!!

    June 5, 2017 at 5:29 pm #390614
    april04
    Member
    • Topics: 3
    • Replies: 31
    • ☆

    Hi there,

    I thought I would do better but even MCQs were tricky for me especially the way they were written.
    My answers:
    1. A
    2. D
    3. D
    4. A
    5. D
    6. B
    7. B
    8. C
    9. A
    10. D
    11. C
    12. B
    13. C
    14. D
    15. C

    June 5, 2017 at 5:33 pm #390617
    mubeenjuma
    Member
    • Topics: 0
    • Replies: 15
    • ☆

    I wrote it was material a qualified except for paragraph to b added above the opinion

    June 5, 2017 at 5:37 pm #390619
    tanika667677
    Member
    • Topics: 0
    • Replies: 1
    • ☆

    Same approach. Due to the benchmark for materiality lever on revenue is flactuating between 0.5%-1% and the balance was above 1, hence stated the modified audit report, qualified opinion with “except for” (the amount not was materially misstated but not pervasive)

    June 5, 2017 at 6:17 pm #390626
    heychi
    Member
    • Topics: 2
    • Replies: 142
    • ☆☆

    @april04 said:
    Hi there,

    I thought I would do better but even MCQs were tricky for me especially the way they were written.
    My answers:
    1. A
    2. D
    3. D
    4. A
    5. D
    6. B
    7. B
    8. C
    9. A
    10. D
    11. C
    12. B
    13. C
    14. D
    15. C

    Hi April, looks like we have almost the same answers! Mine were:

    Hey guys! My answers:

    1) A
    2) D
    3) D
    4) A
    5) A
    6) B
    7) A
    8) B
    9) D
    10) D
    11) C
    12) B
    13) C
    14) D
    15) C

    June 5, 2017 at 6:19 pm #390628
    heychi
    Member
    • Topics: 2
    • Replies: 142
    • ☆☆

    Oops! I got B for 7 too! (typo). Feeling better after coming here. First attempt at this paper so fingers crossed!

    June 5, 2017 at 6:22 pm #390632
    abdullah
    Member
    • Topics: 25
    • Replies: 22
    • ☆

    any one know whether q10 mcq?

    was marketing an advocacy threat ?

    June 5, 2017 at 6:24 pm #390633
    abdullah
    Member
    • Topics: 25
    • Replies: 22
    • ☆

    was marketing an advocacy threat ?

    June 5, 2017 at 6:28 pm #390634
    april04
    Member
    • Topics: 3
    • Replies: 31
    • ☆

    if these are correct that would be fantastic.
    I answered the question about immateriality incorrectly. I recalculated it and I don’t know why I thought it was immaterial as I got over 1%.
    Any way I stated it was immaterial and it would be unmodified report with the issue included in Emphasis of matter paragraph…. such an easy question, such a stupid mistake 🙁

    June 5, 2017 at 6:29 pm #390635
    april04
    Member
    • Topics: 3
    • Replies: 31
    • ☆

    I didn’t treat it as advocacy as it would be more self interest.

    June 5, 2017 at 6:37 pm #390637
    Melissa
    Member
    • Topics: 3
    • Replies: 20
    • ☆

    Hi can anyone remember what they wrote for the audit procedure for the continuous inventory count?

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