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

<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

<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.

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

<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…

<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!

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

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> @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)

very easyyyyyyyyyyyyyyyyyy

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.

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.

<cite> @neil.farrow said:</cite>
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!

LOL 😀