*** F8 June 2015 Exam was.. Instant Poll and comments ***

@cardine

i did shade all my answers for MCQ on the answer booklet in the first page next to the personal information that we insert; but my question is, do i have to circle everything i made on answer sheet to the question paper as well??

@Cardine said:
NNNNNNNNNNNNNNoooooooooooooooooooo!!!!!!!!!!!!!!!!

No need. There’s an instruction in the question paper “Not to record any answers in the question paper” which I’ve lately found out. I’m now starting to worry about the penalty.

u think how many correct

@lilit274 said:
Part A is postin. Please F8 instructor..put suggested answers

Yeah finally the Mcqs are up plz post answers and relieve us with the tension and anxiety 😛

@lilit274 said:
1.D
2 D
3 A
4. A( I am 100% sure I am incorrect, it should be A)
5. C
6. B
7. C
8. B
9. C
10. A
11. B
12. B( I don’t remeber what I have put for this MCQ)

Looking at the questions again, I have an issue with the Q.12,

I put on a “D”, but looking at it now it could have been A or even B

1. gives evidence of completeness
2. gives evidence of accuracy
3.gives no evidence
4. gives evidence of completeness

now the questions asked for evidence of Completeness & Accuracy

so we can’t 1 & 4, because although they give evidence, they give only for Completeness

so it has to be 1 & 2 OR 2 & 4…. that is either A or B..

what do u guys think ?!

going by the suggested answers I’m at 12/20… wanted at least 15/20.

Hello Colleagues!!!!!

The suggested answers does not mean you’re wrong. It’s an opportunity to measure your performance with – what if this was the answer.

My answers are suggested, then compare with OT with comments – see below.

There are many suggestions and will comment on OT suggested answers.
2 – an auditor NOT undertake, ans C – OT say B;
5 – Analytical procedure at Planning stage, B – OT say C; risky transaction over reliability
6 – NCA’s completeness, A OT say B. I’ve issue with this – use NCA register to tract record
9 – IAS 10 Audit responsibility, D OT say A – the FS cannot be issued before approval, key words we must pay attention to them!!!!!!!!!!!!
11 – D, OT say B; internal audit can be out-source and there work is determine by those charged with governance. They support good governance and therefore cannot be independent of the company.
12 – Goods dispatched are recorded correctly, A OT say D – regularly review unfilled order do not affect goods being invoice; therefore therefore, we MUST look at the GDN and sales invoices.

Everyone has different answers and this is what we need to share opinions – building knowledge and progress to the next level. We appreciate your reasoning and facts findings.

Regards,

why the ans for mcqs 9 is not b??

and what about ques 1? examinar is asking about procedure but D is the control..Isn’t it?
Ques 4.. why not B? auditor should follow ISA, no matter whatever the conditions are..
Ques 6.. why not C? isn’t it the procedure for NCA completeness?
Ques 7.. why not D? where it is written the directors require training before joining..?
Ques 9.. why not B? auditors have the responsibility to identify subsequent events.. and statement 2 is correct.
Ques 10.. if share holders are changing then why it is need to change the engagement letter? isn’t it the agreement between the directors and audior?

Any one can ans me?

@lilit274 said:
Because 1 is true.Auditors do not have a responsibility to perform procedures to identify subsequent events after the date of the auditor’s report. However if anything comes out to their annotation, they should take appropriate steps.

i think there is a review after audit report in which procedures are performed. so this statement is incorrect

take it back, they changed the suggested answers, puts me up to 14/20. hopefully it gives a good enough starting point to get the pass!

Pretty sure the answer to Q2 is C: Subsequent events review is separate and prior to the overall review.