*** ACCA Paper AA March 2020 Exam was.. Instant Poll and comments ***

I flunked the test. I too received the Penalty from travel authority for inadequate no of breaks allowed to truck drivers question and I certainly not replied the way other members in this forum have. I fear results now because I haven’t failed any ACCA exam so far. I couldn’t prepare well because I am attempting FR too in this session.

i have faced the time management difficulties during this attempt of AA as i was only able to complete the 84% of the paper and internal controls recommendation toc question got left but i am pretty much sure that the remaining paper i have done was up to the mark.

I sat the the exam in London (Kaplan) and we also had technical issues. Fortunately, we only started late.

Some questions which I remember:

1. Types of misstatements – judgmental, factual or projected (I am not sure that this topic was ever discussed in any AA materials but i’ve just found a related article in AAA section of ACCA)

2. You received responses of recev. circularisation and you need to decide on further actions.

3. Ethics – The audit partner is resigning and you find out that he is becoming a finance director of your client effective from day 1 of the following year. What will you do? (PS: Any ideas?)

4. Why does the auditors have to communicate with those charged with governance?

5. Substantive procedures for y/e bank balances. Note that the client has a number of foreign currency accounts.

6. Control Deficiencies – Recommendation – test of control. This one was pretty obvious because the purchasing director did not have access to budget, the year end inventory did not take place, perpetual inventory was not completed etc.

7. Provision for breaches of workers’ hours or something. Long discussion and substantive procedures for provisions.

8. Audit risk – new systems, lack of financial controller, drop in net margin but not gross margin, extended payment terms, one new cheap supplier etc.

9. Two reasons why audit has to be documented.

Generally, I think that the questions were quite fair although MCQs were quite tricky.

@demetrios21780 said:
I had mcq if an audit partner after audit is recruted by the client what actions must the audit firm make.Also there was one with answers report1 report 2 audit report and something else.i believe mcq will have a deceding role for passing

The same here. I responded that the audit firm should amend the next year audit to ensure that the team has more experienced staff.

The other answers did not seem likely :/

@demetrios21780 said:
I had mcq if an audit partner after audit is recruted by the client what actions must the audit firm make.Also there was one with answers report1 report 2 audit report and something else.i believe mcq will have a deceding role for passing

what was your ans in regards to this question will the report would be Type 1 or type 2

I choose t2

I think it was familiarty threat and that the auditor can work forr the client’s firm given that proper safe guards are there i.e review from independant reviewer and assurance team for hot and cold reviews.

Hi,
I got same questions, but can’t remember the requirements.
Question on substantive procedures – what was in it?
Remember something to do with PPE after factory being burnt down and redundancy.
What else?

@anama said:
Did anyone sit these in Dublin, if so which centre and any issues?

Yes, I sat AA in Dublin. The centre on Naas road. No issues

@opentuition_team said:
<h3>How was your ACCA Paper AA March 2020 Exam? Please post your comments below, and vote in the Instant Poll</h3>

[crowdsignal poll=10513628]

the is good need to keep updated and study the materials throughly to attempt 100% of questions