*** December 2022 ACCA AAA exam – Instant Poll and comments ***

Hi , in Q1 can any one remind if the goodwill procedures was in the overal procedures on the goodwill or the question specific to the expert who done valuation of the acquisition? I have wrote the whole procedures involved to do the goodwill . Tx

I found paper easy but never know how could be the outcome
Q1 Business Risk
ROMM
Outsourcing affect on Audit planning
Audit procedures on Holiday pay

Q2 PFI a) Matter before accepting the Audit engagement
b) Audit procedures on PFI

Q3 Matter on working paper file
IFRS 16 Leases but the scenario is on not charging depreciation according to IAS 16
Inventory where the company has recorded the inventory on cost which is less than the NRV

I attempted 2ndf question first and completed within 30 minutes and than start writing the 3rd question and completed within 35 minutes so I have enough time for question 1 and completed my paper by the grace of God

This was my exam I hope paper was easy and I completed my exam. Hope for the best

I’m not sure if i did the right thing
For lease, i managed to identify that it is incorrect to depreciate over 6 years instead of 7 years .

For inventory, since the inventory could be returned to the supplier, hence the entity does not retain the ownership until it is paid for. I indentified it as a consignment arrangwment where it will be inappropriate to recognise it as our own inventory(like hypermarkets) can anyone tell me if im right?

Anyone received this email? Damn, i have done well for this exam but why i received this email? My examinations will be cancelled and repeat or what?

“We are aware of an issue that may have impacted your remotely invigilated exam today. Please accept our apologies for this and we are currently investigating next steps.

We will issue further instructions via email by 1pm on Wednesday 7th December 2022. Please check your emails regularly for updates.

Yours sincerely

Ian Gray
Head of Exam Delivery”

I got that email also. I did have an issue logging in and was extremely stressed. But I kept trying and eventually got on. I don’t ant to have to take the exam over!!!!
Only would if i get the same questions and what ive already submited

Can you detail the issue.I had a similar issues.
After being in a queue it showed your turn…
But it took several minutes.
So I logged in again.

I had same issue, could not pass the system test, it was an issue with the ones invigilating the exam. Eventually after ringing them and ACCA my exam login window had closed, so could not sit the exam, had to withdraw and rebook for March, due to doing the UK variant.
Very annoyed.

It was on whole procedures on the goodwill, but i have also included that we need to obtain evidence of the expert competence etc etc

Thought it was a pretty tough exam for an audit paper. Distinct lack of testing over a number of expected areas

Q1 on a consolidation, so goodwill ect, business risks and ROMMs
Q2 on defined benefit plans
Q3 on post issuance reviews

Maxed out my presentation to see if I could bag the professional marks.

This was a second time sitting for me. I put the work in so have fingers crossed now!

AAA sat in centre – International Version
Q1 – Basically pets at home
A) Business risk 8 marks
B) RoMM 18 Marks
C) Outsource Credit Control team 7 marks
D) Audit Procedures on Holiday Pay 7 marks

Q2 – Completion Matters
A – Leases 9 marks
Inventory – 7 marks
B – audit opinion implication if Lease not corrected 4 marks

Q3 – Non audit service and Assurance
A) Engagement considerations 10 marks
B) Capital Expenditure examination procedures 10 marks

Tough exam, especially C if you don’t do that line of work.

First question tricky as industry was quite niche but hopefully the 20 professional marks up for grabs will help !

I had technical issue could not pass the system test due to web socket connection issue, managed to speak to them but they said there is no uk variant available for next week and I have to do it in March and they withdrew my some and refunded. Later in the evng got an email about the technical issue from ACCA. Won’t know what will happen next since I already withdrawn will I able to rebook?

that is rather ambiguous , i received it aswell!

Goodwill came in Q1 procedures . Doing International variant not UK

What all did you guys wrote in ROMMs? I didn’t found much to be honest. My friends too complaint about the same issue.

What was the issue with the artwork capitalisation issue???

And what all ponits did you pointed out in audit report questions?

My paper was:

1: home appliances company
Business risks
ROMM
Audit procedures
Role of audit committee in regards to external audit

2:
Pensions
Ethics and professional issue

3: Faraday co
Quality management
Ethics and professional issues