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I got the same questions can u msg me somewhere so we can discuss about the questions. I got the exact same questions
Alhamdulillah! The paper wasn’t difficult as was it during December session. Hopeful of a good grade. In Sha Allah
Woooo!! I got the same question, and was well answered.. I’m from Sierra Leone. You?
Paper was much easier than I expected.
Finished with 60 minutes left so went back to add more detail to my answers.Audit risk, internal control and substantive procedure questions were very standard.
Had a nice ratio question for an easy 4 mark’s.I pretty much went into the exam knowing hardly knowing anything (the definitions really were not sticking – I am going for a FR resit too so my time was limited on both subjects). Thankfully a third of the paper were tabular questions which I think I’m good at. I went in thinking I’m going to fail… but came out thinking (hoping) I might have made over 50%. I had the ratio question too. Didn’t like section A much.
Hi sjkk, I’m not sure if we can message via opentuition but feel free to message me on Reddit if you have it. My username is pessirnist. Would be happy to discuss the questions with you if you still want to talk about it. 🙂
Not sure where everyone else in the World sat their exam, but did this as a resit, thought this exam was unbelievably difficult compared to December’s exam. Pretty sure I’ll be resitting again.
Just sent you a message there made a new reddit account just to talk about the exam i hope u got it
Did anyone else have the section B question relating to the penalties for driving fines (17 x $50k) ?
Bit of a strange one on how to perform substantive procedures on.@JohnLa1 said:
Did anyone else have the section B question relating to the penalties for driving fines (17 x $50k) ?
Bit of a strange one on how to perform substantive procedures on.Yes I had this one. Quite odd. I talked about requesting information from the driving authority. Got a bit stuck though.
@ronblanco said:
Yes I had this one. Quite odd. I talked about requesting information from the driving authority. Got a bit stuck though.I gave the same sort of response, clarify if they have the resources to pay the debt plus if they intend to take legal action against the former employee to salvage some money back.
I did, I think they was asking about substantive test on provisions/contingencies
For the audit report did you recognise that the action/complaint was brought forward in March (within the FY) so was present at the year end? Then it was material so qualified except for.. material disagreement ? They tried to catch out by saying the claim from the authorities was post year end..
Also, what did you think sub procedures could you list for the driving penalties? I struggled with that but at least it was only worth 4/5 (?) marks.
I thought the MCQS were as hard as I have seen for F8 – very few questions where it was a one choice answer so pretty high risk on that regard. If I got 5/6 out of 15 I’d be impressed!
Let me know thoughts
– Confirm that the company has the necessary resources to cover the penalty as could lead to going concern issues.
– Agree to post year end cashbook to see if the fines were paid.
– Obtain the staff handbook to confirm that the break times are included and staff made aware.
– Talk to management if there are are tracking devices that could prove drivers were stationery and taking their required breaks.
– Speak to management if any additional drivers were to be employed to reduce the hours that existing drivers are going to take.Last 2 are a bit of a stretch…
@brown200995 said:
For the audit report did you recognise that the action/complaint was brought forward in March (within the FY) so was present at the year end? Then it was material so qualified except for.. material disagreement ? They tried to catch out by saying the claim from the authorities was post year end..Also, what did you think sub procedures could you list for the driving penalties? I struggled with that but at least it was only worth 4/5 (?) marks.
I thought the MCQS were as hard as I have seen for F8 – very few questions where it was a one choice answer so pretty high risk on that regard. If I got 5/6 out of 15 I’d be impressed!
Let me know thoughts
Yeah i noted that is should have been made a provision at Y/E as the likelihood was “probable”
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