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yes it was….20 marks
Thanks Anas!
But I only wrote for material and qualified opinion!
I thought it mention is material…For test of control, you Inspect, observe, reperformance and recalculation, testing and enquiry
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@wayhern said:
Thanks Anas!
But I only wrote for material and qualified opinion!
I thought it mention is material…The question said it was material so yes a qualified opinion. I also indicated that an except for paragraph will be included (my opinion tho, I may be wrong) but the examiner said we should not use the scattergun approach so I made up my mind to go with that.
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where was the question about wages? Did I missed it?
Yes Anas
I done the same thing for Q6 part C as we were not told about the materiality so we had to speak about both.
I also mentioned towards the end, if matter is material and the directors refuse to amend, than they should consider resigning as the FS are material misstated and therefore do not give a true and fair projection.
@saajid said:
Mcq’s seem to be easy considering there were questions as follows :Audit risk consists of two components : Control risk and Inherent Risk
(A) True
(B) False-,-
its risk of mm+detection risk so false
@saiga said:
What is not a benefit of outsourcing internal audit?the beleif tjt it will bring the costs down coz u have t restaff or redundancey,,,
@rcc002 said:
Darkeye
1-I choosed Observe the staff is following the Counting instruction
2-Inspect the counting intsruction something like that options…to obtain count istructions is before counting so wrong its observe for damage stock
@claremmorgan said:
There were the 12 MCQ’s in Section A, and 6 Questions in Section B. Question 6 was worth 20 marks. It was on the back page of the question booklet 🙁lol i i saw it in last 10 mins and wrrote 15 marks,,,,
Does somebody knows how was the structure of the marks in yesterday’s exam?
Thank youSection A
Q1 20 marks
Section B
Q1 10 marks
Q2 10 marks
Q3 10 marks
Q4 10 marks
Q5 20 marks
Q6 20 marksYou have to gain time in section A, just as well I was done with MCQ using reading time & 10 minutes into exam I was in section B, the 10 markers took the longest, between 20 and 25 minutes per question, it should only take 18mins. Left me 1 hour and 20 minutes to do Q5 & Q6.
Q5, the sales system took me 40 mins and Q6, took similar time…just got in on time…- Topics: 0
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@aitezazshah said:
to obtain count istructions is before counting so wrong its observe for damage stockObserving for damaged stock is not a test of control. It’s a substantive test, I think the question asked for tests of control
the question said “during the count” plus the option said observing the client staff noting damage goods so it is test of control. substantive would be things like reviewing invoices for cost and sales nrv etc. basically anything where you test the balance on bal sheet.
Anyone need free ACCA F8 kit 2014 PDF version can contact me here:
arslantaher@live.comdoes anybody remember the eng letter mcq? i think it asked us what not suppose to go in there.
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@usamaniaz said:
Yes AnasI done the same thing for Q6 part C as we were not told about the materiality so we had to speak about both.
I also mentioned towards the end, if matter is material and the directors refuse to amend, than they should consider resigning as the FS are material misstated and therefore do not give a true and fair projection.
Resigning? That sounds extreme though
yes you are right since resigning comes if there is no option and that happens after the report is singed. i think the question gave us info that report wasn’t signed yet. can you confirm plz?
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@aitezazshah said:
to obtain count istructions is before counting so wrong its observe for damage stockI still believe that guy is right though cos ure observing that the counting is being done as instructed. Doesn’t matter anymore though. We wait for Feb
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@abbas7796 said:
yes you are right since resigning comes if there is no option and that happens after the report is singed. i think the question gave us info that report wasn’t signed yet. can you confirm plz?Yes you’re correct; we were asked to consider the effect on the report.
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