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I thought some of the multiple choice questions were really tricky, not particularly nice wording.
Had a lot to write on the 3 written questions – but we’ll see if the examiner liked my points!“How different is the CBE exam from the paper based exam questions?”
Totally different looking at the comments I’m reading.
Cannot remember seeing an Audit risk question. Remember Key Audit matters question and Corporate governance questions though.
My mouse stopped working about 3 times during exam and I had to move desk 🙁
@gssverdi .. do u remember the answers for corporate governance questions?
@fathikhaleel I wrote something in regards to the CEO taking over as the Chairman which would invest too much power in the person. Also the Finance Director sits on the audit committee but the audit committee should only consist of NED’s no?
Wow.. GSSVERDI.. I agree too.. My questions were not the same as the comments I am reading… I did not get any question on the director’s remuneration and also I was not given option for “QUALIFIED and Except for”. The question I was given had only an option that said “QUALIFIED”. So I am guessing most of the CBE questions are different from paper and I had questions that asked to describe audit risk and internal controls.
Overall, I found the exam challenging.
In particular, I felt that the MCQ were very tricky and significantly more difficult than the preparation material. I have used Kaplan, BPP & OpenTuition for practice- or maybe I was on a bad day, who knows…
Section B questions were OK- not piece of cake, yet manageable- but as usually time did not seem enough.
More specifically:
Q16: a) Definition of audit risk and its components (4 points)
b) 8 audit risks & relevant responses (16 points)
c) 5 ethical threats & safeguards (10 points)- I included EQCR partner who was previously audit partner for the same client as familiarity threat, not sure if it was indeed one of the threats.
Q17: Substantive procedures on:
a) Completeness of accruals & tr. payables (4 points)
b) use of audit software for accruals & tr. payables (3 points)
c) bank balances (5 points)
d) directors’ remuneration (3 points)
e) Key audit matters, how the auditor identifies and communicates KAM (5 points)
Q18: a) 4 types of control activities (not 100% sure, maybe it was objectives?) and example control for each (4 points)
b) 8 control deficiencies and suggested controls (16 points)- Topics: 0
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I never understand why anyone says a particular sitting required more writing than usual. The long questions have 70 marks, so write 70 points of 2-3 lines each (on average). Same at every sitting!
The long questions are almost entirely practical, so anyone feeling time pressure is almost certainly due to lack of practice (given the same questions come up over and over again).
Looks like substantive procs had fewer marks than usual, presumably because of the 10 marks of ethics threats on the long questions, and that is likely to push the pass rate up a bit. Substantive procs is usually the worst done bit of the exam, whereas ethics tends to be above average.
I think ACCA exams should be atleat 4 hours..coz most of the papers,especially f8 & f5 requires a lot of thinking…..but due time constraints we have no chance of thinking and doing the question…….PLEASE ACCA…INCREASE THE TIME…..
Time management was a big problem for me. Ended up rushing through the mcq’s in the end. Felt the exam was definitely passable though. Did most people do section b first?
Hi,
Has anyone done CBE version of this exam? If yes, would you recommend it? I am not sure whether to go for paper or CBE. I know this exam is 70% written and I get paranoid about losing some marks if examiner cannot read my writing.
Many thanks.F8 was honestly okay IMO, but I dont want to be comforted yet. Lets see how it goes.
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@mmathias99 said:
did you notice they were 20 questions on part A not 15?This is a new thing on the CBE. You were given an extra 20 mins to cover it. But 5 of the MCQ do not count towards your mark, and are there as a quality control mechanism for ACCA. So you attempt the questions, but if you get them wrong it does not matter.
I think from this sitting the CBE exam will be different for each student, with a pool of questions being used – but the 5 quality control questions will be identical for every student. It may be the case that one or more questions (long questions in particular) are identical for all students, but with more than one timeslot now being offered to sit a CBE, tey cannot risk students in an early slot telling the next students what came up
Am I the only one who didn’t find the mcqs tricky? The entire paper was soo passable compared to the previous ones…
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