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Hi everybody, unfortunately I cannot attend on the INT variant of the F8 exam. What was it like? What were the questions? Was the theoretical part easy?
Thanks and wish u luck
I think it was a fairly decent exam and it was well paced with sufficient time to get through the exam.
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Very similar to past paper Dec 2010.. I think that was the one. Letter to management on weaknesses- 2 marks for presentation- (hopefully i’ll get at least those two) Not a bad exam, a few questions that obscure parts to questions as normal!! Hopefully done enough, I saw some magic today though- feller next to me seemed to spend most of the exam just thinking, no writing- he then handed in 4 extension booklets!! Must have massive handwriting!
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Anyone knw the answer question 4(a)??
Forgot to take a calculator… Luckly the invigilators had one spare, nearly threw away 5 marks!
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I tried to answer almost every parts of questions, except for the application control in Q1(4marks-don’t know what it is) and last part of Q5 (3marks-times up!). This sitting is really similar as what were came out before as mentioned. Hopefully I can get through this and best luck to everyone-PASS!
<cite>@accaeric said:</cite>
Anyone knw the answer question 4(a)??Was this the question about the elements of an assurance engagement? If so, it is
a) a three party relationship
b) subject matter
c) suitable criteria
d) sufficient appropriate evidence
e) reportInstead of a three party relationship I just put practitioner! I didn’t get sufficient appropriate evidence, but I think I remembered the rest.
Threats : SI , SR , I , F, A
assurance engagmenets : 2 parties, sufficient evidence , opinion, etc
5 types to obatin evidence : AEUOI
Q5: opinion Qualified but not pervasive
anyone agree>
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Not bad…not bad at all 49+2 hopefully
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Anyone knw how to answer question4(a) about the procedure to obain audit evidence and one example on PPE.. is AEIOU or ECRV+cut off???
<cite>@accaeric said:</cite>
Anyone knw how to answer question4(a) about the procedure to obain audit evidence and one example on PPE.. is AEIOU or ECRV+cut off???I think AEOUI . thats what i did
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Then my 10marks flown.. =(
My opinion, was adverse as it was materal, two items PPE and inventory. Surely auditors have no other opinion!
What did people write for content of emphasis of matter in question 2? I said financial statements are T and F nothing is wrong with them etc…..just want to point out draw attention to something important. E.g Going Concern.
Correct??
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hope to pass the f8 papaer..thanks for the f8 sample test
<cite> @vipulv said:</cite>
My opinion, was adverse as it was materal, two items PPE and inventory. Surely auditors have no other opinion!What did people write for content of emphasis of matter in question 2? I said financial statements are T and F nothing is wrong with them etc…..just want to point out draw attention to something important. E.g Going Concern.
Correct??
yes! EOM paragr. is after the opinion paragr . and It is writen to direct attention for events which have already adequately disclosed by the management
What u wrote abt the procedures to obtain evidence?? it is abt AEIOU?
<cite> @valiaty said:</cite>
yes! EOM paragr. is after the opinion paragr . and It is writen to direct attention for events which have already adequately disclosed by the managementWhat u wrote abt the procedures to obtain evidence?? it is abt AEIOU?
YAY! i got that right then!!
And yes, AEIOU for obtaining evidence..i think.For audit evidence I said:
inspection, inquiry, confirmation, recalculation and analytical procedures
And for each procedure i gave example om PPEAnd then there was a question about threats to auditors independence so i said: Self interest, self review, advocacy, familiarity and intinidation
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it was a fair paper.one thing is for sure working through past papers is a great thing. it may seem as a tedious task but it is well worth it. Wishing you all success come 8th of August!!!
<cite> @vipulv said:</cite>
So it was Adverse in question 5? AEIOU is correct!!!May I am wrong then but either it is adverse or qualified it is going to earn only one mark !
1 more mark for reffering the basis of the opinion paragraph before the opinion paragraph and the other one I think to exlain that it is due to material mistatements and that the opinion Not give a T+F view (if adverse) or except for (if qualified)I missed 10 marks time pressure… I know its my fault. Does this mean I have low chance of passing now 🙁 Even though I knew everything else!
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