AA*** ACCA F8 June 2018 Exam was.. Instant Poll and comments ***

Do you remember what you put for the weaknesses and recommendations in the CG question?

@khilen said: Hi all, I have a couple of questions: - First of all I think people had different questions as I think not everyone gets the exact same paper? For those of you who had the following questions, what did you put as it keeps bugging me!: (1) When auditors get dismissed, is it their right to: (a) Attend board meeting to discuss their dismissal. (b) Attend general meeting until the date of their dismissal - I think that is what it said, but I put that. For the longer form questions, if the materiality calculation for example was 11%, is that material even though it does not fall in the bracket of 5-10% materiality for PBT?

I didnt have the "auditors dismissed" question but did have the $80k error. During my course at BPP, the tutor advised us to show the examiner the calculations on all matters on both percentages (brackets) and go from there, your 11% is not wrong as it is material but not pervasive. Pretty sure you'll get some marks for showing that the unadjustment is material, just not sure if you'd get marks for the 11% comment

@khilen said: Do you remember what you put for the weaknesses and recommendations in the CG question?

I had this too, felt blessed with getting this question. I put the following: -Board was not balanced as there were 5 execs and 4 NED's, recommended that another NED is added -No one on the audit committee had prior accounting experience, recommendation would be to find someone with accounting experience (I added in small line a comment that perhaps since the company are needing another NED, this NED would have to be from accounting background) -Chairman wanted to cease the AGM and distribute all notices via an e-mail, my recommendation was that the company is a listed entity and therefore must hold yearly AGM as a statutory requirement.

@khilen said: Do you remember what you put for the weaknesses and recommendations in the CG question?

1 was linked to the fact that they didn't have a parity in the board between executive and NED and this is a corporate governance requirement ; the second was that the audit committee didn't have any member with a finance background but it is compulsory to have at least 1 member with a finance background; and the third was that they are obliged to have an AGM and so, for example they can send all the necessary information upfront but have the obligation to hold an AGM.

@rai175 said: I chose Attend general meeting until the date of their dismissal as auditors have no right to attend Board meetings, only general meetings with shareholders

I think there were 4 options and the answers had each time 2 no? I also chose attend the GM as they don't attend Board meetings.

The two options should been to "Receive notice of the removal and To attend general meeting in which their term of office would have expired. They can only make representation have receiving notice of removal and have no right to board meeting in which their removal is been discussed.

I forgot it ,but my 3 columns were actually the decriptions of deficiencies and recomendations and tests of controls , if my memory is right?

i was test it in China

@wangbaichuan said: I forgot it ,but my 3 columns were actually the decriptions of deficiencies and recomendations and tests of controls , if my memory is right?

In my exam i don't think i had to have a colum over test of controls ... They just asked deficiencies and recommendations. But mine was the PBE so i don't know if there were differences with the CBE.

did PBE exist in this sitting? i heard all exams have been computerised, how many dcolumns in ur screen and how many u were required to find out those deficiencies? for me , i only need to find 5 dfs and with 3 columns to describe them and recommend to mitigate them, and also the TOCs..... 15 mks .one of my friend was required to find 8 dfs but no TOCs are required, i think i did well , but i still wondering the risk of miss reading questions , especially the headlings of those 3 columns.

@coralienana said: In my exam i don't think i had to have a colum over test of controls ... They just asked deficiencies and recommendations. But mine was the PBE so i don't know if there were differences with the CBE.

did PBE exist in this sitting? i heard all exams have been computerised, how many dcolumns in ur screen and how many u were required to find out those deficiencies? for me , i only need to find 5 dfs and with 3 columns to describe them and recommend to mitigate them, and also the TOCs..... 15 mks .one of my friend was required to find 8 dfs but no TOCs are required, i think i did well , but i still wondering the risk of miss reading questions , especially the headlings of those 3 columns.

Yes i had PBE! Im in Belgium.

@coralienana said: Yes i had PBE! Im in Belgium.

wish did good and pass it

I actually thought the exam went okay but with ACCA Especially F8 exam, you think you’ve done well enough to pass and don’t. So frustrating. I really didn’t have much time to prepare for this. The anxiety!

Yes, ACCA is getting really hard in marking the exams. F8 seems an easy exam but you loose marks rapidly. It was my first attempt, i hope i'll have a pass.

@coralienana said: Yes, ACCA is getting really hard in marking the exams. F8 seems an easy exam but you loose marks rapidly. It was my first attempt, i hope i'll have a pass.

did u read wt i typed carefully?

Yes, why?

i didn't say i loose marks, i think i did well too,but i cant say its easy

Yes but i spoke with people having done this exam before and they said you always think you performed well and then when you get the marks ... They have specific words or items they want to find in our answers and that's what make people loose marks. If you look at the pass rates for this exam, it's never above 50%

Dear OpenTution team, I want to start studying for F8 for September exam. Does text book changes for each exam or t is it only one version? thank you

Hi, can anyone help me connect to f8 preparers and associated groups. Thanks [email protected]

I am student in ACCA