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pretty easy if you have strong practice
but long as usual so dont have enough time to review answerPretty good not bad at all the only thing I’m worried about is i completed the paper 35 minutes early and the others here are talking about how lengthy the paper was, did i go wrong somewhere
do you write long enough answer for audit risk and internal control question ??
Yes! I identified the risks talked about the accounting standard and impact with audit responses I’m seriously worried! Thats enough right?
The paper was ok – everything came up, audit risk, controls, corp gov. substantive testing, reporting! I am nervous about the section a (a bit confusing!) but hoping to get a pass!!
good luck all!
@wigjimin said:
Yes! I identified the risks talked about the accounting standard and impact with audit responses I’m seriously worried! Thats enough right?i don’t know. every question look so long
i think if you don’t thinking , only copy and typing answer from somewhere you may have about 35 minutes freeWhat are the answers of the MCQs? Any Idea?
What was the advice you gave on the audit openion? the last question of Part B
I want to recall the theory questions but I am unable to remember them, Any help on this?
Can anyone recall the answers
1. internal control elements 5
2. Audit risk identification and response 16
3. Control risk identification, recommendation & TOC 15
4. Relationship between Audit strategy & Audit plan 5
5. Analytical procedure on revenue 6
6. Effect of Audit opinion on understating payable by $2,10,000 which is bellow materiality 5
7. How auditor can rely on the continuous stock count work performed by client mark allocation 4
8. Audit documentation & record keeping 3
9. Substantive audit procedure on something 6
10.I think this is a tough paper, lots to cover in limited time. I managed to answer every question but didn’t have any spare time to review. I am confident that I have done enough to pass, but wouldn’t expect more than 55 marks.
This is my first skills paper where i can safely say i sufficiently attempted 100 out of 100 marks. I’m hoping for a nice score for my last skills paper 🙂
This is my first attempt of this Paper. I find it hard as it’s very long and discursive. Felt confident about my answer but I hope they made sense. Hoping for a consideration from the markers. Hope we all pass.
@henry1acca said:
This is my first skills paper where i can safely say i sufficiently attempted 100 out of 100 marks. I’m hoping for a nice score for my last skills paper 🙂Good for you @henry1acca ! Very confident indeed. You must be the one who was typing so fast on the keyboard and get all the answer just like that 🙂 Congratulations in advance.
@drkeogh83 said:
Good for you @henry1acca ! Very confident indeed. You must be the one who was typing so fast on the keyboard and get all the answer just like that 🙂 Congratulations in advance.Thanks drkeogh83. This was my second attempt at this paper after failing last attempt at 49 marks. I wouldn’t say i’m the fastest typer in the west but after countless hours studying the answer was there in my mind without a second thought so really hoping for a decent pass. Good luck with your result! I’ve already started studying SBL 🙂
Hi I think we had a same exam
I think the amount of 210k was material
I suggested accruals for current year if refused by mngt material except for
Funny this is the last skilled and I answered 100 of 100 first time in my acca to complete a paper 4 minutes before the end of time!
@henry1acca that’s nice to hear. Very inspiring revenge after they did not give you the 1 mark. I’m sure you nailed the exams. Congratulations in advance.
@shehzadhussain said:
I had 15 McQs has anyone had the sameThere is no more addition sample question, everyone has 15 MCQ
Anyone have mcq on ethics ‘ responsible party, users and practitioner’ I put Directors, auditors & lenders because it was in respect of increasing loan. Anyone put same?
Also the One where you had to match the related party to the ethical threats ?@arifjui said:
What are the answers of the MCQs? Any Idea?
What was the advice you gave on the audit openion? the last question of Part B
I want to recall the theory questions but I am unable to remember them, Any help on this?
Can anyone recall the answers
1. internal control elements 5
2. Audit risk identification and response 16
3. Control risk identification, recommendation & TOC 15
4. Relationship between Audit strategy & Audit plan 5
5. Analytical procedure on revenue 6
6. Effect of Audit opinion on understating payable by $2,10,000 which is bellow materiality 5
7. How auditor can rely on the continuous stock count work performed by client mark allocation 4
8. Audit documentation & record keeping 3
9. Substantive audit procedure on something 6
10.Substantive procedures on revenue
Substantive procedures on trade payables
Substantive procedures in respect of receivables
Substantive procedures on the provision of the restructuring costs
Calculate 4 ratios
My audit opinion was on the restructuring costs, the company said 0.9million but auditors had calculated £1.2 million & you had to say what effects on the report it would have if they didn’t amend amount. I said material, qualified except for and adverse opinion???
If they did amend accounts then unmodified report as true and fair.Trying to remember more!
I swear at the top of the question it say the 3 parties in relation to the external audit? so i just put the usual management = responsible, shareholders = user and auditor = practitioner
Liamb maybe it did on yours as they arent all the same are they, 99% sure mine said in respect of the cash loan?
Can you remember any other questions I’m a little worried about the mcqs I thought they were all very samey, the answersI think the exam was ok. I finished with an hour spare- which worries me.. but I went back and checked I hadn’t missed a question and reviewed my answers. Time will tell I suppose! Last one for me in that level so fingers crossed! Now to get back to enjoying life and Christmas!
@arifjui said:
What are the answers of the MCQs? Any Idea?
What was the advice you gave on the audit openion? the last question of Part B
I want to recall the theory questions but I am unable to remember them, Any help on this?
Can anyone recall the answers
1. internal control elements 5
2. Audit risk identification and response 16
3. Control risk identification, recommendation & TOC 15
4. Relationship between Audit strategy & Audit plan 5
5. Analytical procedure on revenue 6
6. Effect of Audit opinion on understating payable by $2,10,000 which is bellow materiality 5
7. How auditor can rely on the continuous stock count work performed by client mark allocation 4
8. Audit documentation & record keeping 3
9. Substantive audit procedure on something 6
10.
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