AA*** F8 June 2013 Exam was.. Post your comments ***

elements of assurance engagement was it ?

When will the answers be available? Think question 5 wasn't very nice.

I thought Q5 only asked what the opinion would be if they didn't want to amend re event 2? .. EEck

It is a passable paper. Time pressure is what I cannot handle in this exam, and I throw out the marks for the threats to integrity and objectivity - Self interest and self review, advocacy, familiarity and the supply of other services. Time was running out, so I went a start #1 to capitalize on my marks. I hope to see a pass, if the examiner desire to release me on this occasion. All the best to everyone.

<cite>@chish said:</cite> Not bad...not bad at all 49+2 hopefully

I think your right- or we are both wrong!! Tip- I used an online scrabble word finder to get more Mnemograms- CRIME for 5 elements of an IC system- Control activities/ risk/ Info system/ Monitoring/ Environment.. Best of luck :-)

The substantive tests were PROVE Presentation Rights and Obligations Ownership Valuation Existence and 1 mark for test and one to describe this - easy? I think AEIOU could be used but PROVE is a much better nmemonic for the fixed assets in my opinion

I thnk xam was easy,around 30marks were direct and not askd much abt toc and tod, Hope i wil pass

reasonable exam but rushed question 4 & 5. praying for a 50 this was a resit

<cite>@valiaty said:</cite> 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>

near to that

hi i just want to ask that , we were allowed to write points on question paper while planning time of 15 minutes? please let me know.

<cite>@pallavitaklikar said:</cite> hi i just want to ask that , we were allowed to write points on question paper while planning time of 15 minutes? please let me know.

You are allowed to write on the question paper during the 15 minutes - you are just not allowed to start writing in the answer booklet.

I made a stupid mistake commenting on the ratios without reading what business Kangaroo were involved with and wasted about 20 minutes before realising the slow and possibly obsolete inventory was in fact houses. I thought it was the easiest F8 paper I have sat....fourth time lucky.

Hi all. Regarding the types of procedures, I remind all that the question was asking TYPES of procedures to gain audit evidence, and not TYPES of SUBSTANTIVES procedures to use PROVE OR AUIOU. So, my approach was to write controls test substantive test representation letters third parties confirmation evidence from legal authorities as I felt these were different TYPES of acquiring evidence

It was a fairly balanced exam. Any well prepared candidate could have easily scored.

<cite>@seth1 said:</cite> Hi all. Regarding the types of procedures, I remind all that the question was asking TYPES of procedures to gain audit evidence, and not TYPES of SUBSTANTIVES procedures to use PROVE OR AUIOU. So, my approach was to write controls test substantive test representation letters third parties confirmation evidence from legal authorities as I felt these were different TYPES of acquiring evidence

Uh oh I wrote documentation check inspection etc.... damn hope thts not wrong.. but they are analytical procedures so...

hello all .. for the question about the audit procedure ... I wrote " Accuracy, Valuation, Existence, Cut off , Completeness" .. is this the right answer ????

<cite>@shimmershehz said:</cite> hello all .. for the question about the audit procedure ... I wrote " Accuracy, Valuation, Existence, Cut off , Completeness" .. is this the right answer ????

In my opinion, the procedures to obtain evidence are : AEUOI (Analytical procedures, observation etc) Valuation, Accuracy etc are result of the procedures . e.g. INSPECT new additions of PPE and agree them to purchase invoice to ensure they recorded ACCURATE So, Inspect is the procedure to obtain evidence and Accuracy is the result of ur action. However, If I am right and the procedures are not the "Completeness, Accuracy etc you can still earn up to 5 marks for the examples you stated!

anyone know if the paper is available online

exam was ok. However i mess up by using a blue ink to write answers. hope it will get marked

As this every happen to anyone ?

Didnt the exam invidulator announce prior to the exam? .. well I took only blue pens wimme during dec exams.. wen the guy read out the instructions... he had few black pens so I was saved... Did u do it throughout the paper?

<cite>@nupurkum said:</cite> First one was also except for matter para .. sorry didnt include tht in my answer above.

I might be silly but on the second event I thought that required a provision on FS as it was a next year event (happened on 20th of May and year-end was 30 April 2013) but as management is responsible for reflecting on FS anything that affects the foreeseable future of the company they should make an amendment. But anyway I concluded it was material but not pervasive as you guys! Please can anyone let me know if I was too much out of the way? Thanks!

<cite>@tinafr said:</cite> I thought Q5 only asked what the opinion would be if they didn't want to amend re event 2? .. EEck

That was part C of the question! The directors do not wish to make any amendments or disclosures to the financial statements for the explosion (event 2). Required: Explain the impact on the audit report should this issue remain unresolved. (exam questions already available on ACCA website)

question was not so hard without ques 3(ration analysis part).but i am worried about the marking.because whenever question became easy,pass percentage fall that time. :(

very easyyyyyyyyyyyyyyyyyy

this one and that ratio calculation, 15 marks is bonus mark! 15/15

a fair exam. All the best to those who did and doing their exams. I share darkeye's concern about whenever questions become easy, pass percentage fall. But I am optimistic, I answered as best as I could. It is out of my hands now, just have to wait 'till August for result. In the mean time, moving on to F9 from now.

I wonder how true that really is about "easy" questions having a poorer pass rate. I'm sure there must be very strict marking guidelines. If you made sufficient relevant points for each question, then you should earn one mark for every point you made. I hope that's the case.

Thanks to opentuition forgiving the free notes and other stuffs. This exam is the soft among the other hard time. 5 easy marks on ratios. After the combination of guess from opentuition, ftc and LCA 90% of the questions were covered. Thank you so much opentuition.

A fairly decent paper. Majority repeated from past papers