*** ACCA F8 September 2016 Exam was.. Instant Poll and comments ***

Benefits of planning audit;

Devote appr attention to significant matters
Identify potential problems at an earlier stage
Facilitate review
Carryout work effectively – organised and managed
To co-ordinate example with experts and internal auditors
To ensure the right number of staffs are available in the audit team with experience

@jsmember said:
And then one was for ethics…. I think it was:

Providing taxation services – Self review
Recruit a member of the Co – Self interest
Represent at authorities – Advocacy

was it not proving wages – and yes which is self review –
i think i ended up keeping them in order….

Regarding the last question about quality controls…..
It was a challenging one…. I wrote:

The audit team can be more confident if supervised.
Supervision is necessary especially for new audit members for whom its the first audit.
Assists the team in identifying errors…

Dont know if this is correct though 🙁

I thought the result is instant, CBE for F7 is not available in Africa till 2017.

I was told that ACCA grants marks where earned so you can score well if you go over and beyond. Is this true? For instance, let’s say question 2 i went over and beyond. Is the examiner going to stop giving marks when i reach 20?

It was something like… how should the audit supervisor review the work as far as i can remember 🙂

OK, I think I may have misunderstood one of the questions – was it “how would you (the auditor) record their sales system” or “how do they (the client) record their sales system”? Does anyone remember how many marks it was for?

@acousticlexi said:
please who can remind me of the question on going concern

which audit procedures should be used in order to identify where there company is a going concern or not.

@donek82 said:
thanks anastassiya, do you remember how the question was worded?

Was it to describe how the sales “IS” being recorded or “should” be recorded?

describe two methods how sales system can be recorded, for each state advantage and disadvantage.

ICQ & ICEQ

ICQ for Control procedures
ICEQs for Control Objectives

two methods to record sales system either
narrative notes
questionnairs
flow charts

Employment with the client….. the answer was SELF INTEREST

@jsmember said:
There was no question for ICQ and ICEQ….. Or did I miss it???

there were not…you are right