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*** June 2025 ACCA AAA exam – Instant Poll and comments ***

Forums › ACCA Forums › ACCA AAA Advanced Audit and Assurance Forums › *** June 2025 ACCA AAA exam – Instant Poll and comments ***

  • This topic has 21 replies, 15 voices, and was last updated 1 week ago by rizanmhuq.
Viewing 23 posts - 1 through 23 (of 23 total)
  • Author
    Posts
  • June 2, 2025 at 9:02 am #717483
    opentuition_team
    Keymaster
    • Topics: 1392
    • Replies: 1405
    • ☆☆☆☆☆

    How was your June 2025 ACCA AAA exam?

    Vote in the Instant Poll


    (Comments will be opened after 5PM UK)

    June 2, 2025 at 5:06 pm #717587
    sshethia47
    Participant
    • Topics: 0
    • Replies: 1
    • ☆

    It was ok

    June 2, 2025 at 5:45 pm #717589
    Jas
    Participant
    • Topics: 0
    • Replies: 7
    • ☆

    Q1 audit risks (18 marks)
    Assess why trade receivables is a significant risk of mat misstatement (12 marks)
    Not able to remember rest

    Q2
    Investment property matters & audit procedures (7 marks)
    Defined contribution matters & audit procedures (7 marks)
    What opinion/report we should provide assuming management doesnt rectify their errors (6)

    Q3 Engagement quality review, ethical and professional implications (maybe 10?)

    If anyone remembers more please comment

    June 2, 2025 at 6:06 pm #717590
    zhinyan
    Participant
    • Topics: 2
    • Replies: 3
    • ☆

    Got groups in Q1 and Q2 (quality management) and Q3 on PFI profit forecast.

    Q1 was pure 22 marks of audit risk. Now that I think about it it was a disaster. Lots of jumbled up points, and many of of those points have little to evaluate with. Very different from the past papers that I practiced.

    I was hoping to get scenario information on management bias.. or an FS level risk. But I couldn’t.

    Other than that, I made do with common sense for any other questions that I encountered.

    I think I did fine. For what it’s worth, the questions were straightforward.

    Haha, a little upset that Ben Wilson’s tips did not help me a single bit. But at the same time I’m glad, because he was tipping the hard questions (money laundering, fraud, MURGC, sustainability assurance). He mentioned group audits were extensively tested last time, so low probability of it coming out. And mine had two questions on group audits!

    Btw, I’m not discrediting Ben Wilson, this just shows how you can’t rely on tips (I didn’t!)

    I am surprised sustainability assurance did not show up at all. I prepped for it to mastery. (or not)

    I am also glad that I did not get any pure knowledge questions in my paper.

    Fair question overall. I’m glad I did Q1 last. It was the only tricky part of the paper.

    June 2, 2025 at 6:15 pm #717591
    mike1slade
    Participant
    • Topics: 0
    • Replies: 5
    • ☆

    Exam was ok but came away feeling disappointed. The questions didnt give you lots of extra stuff to include from the scenario so felt like i was just repeating myself.
    Also question on defined pension benefit but said ignore competence etc of the expert and all other items had been confirmed by the audit team. How was you supposed to squeeze 7 marks out of that. (Had, audit risk, trade receivables, ethics for Q1)

    June 2, 2025 at 6:15 pm #717592
    mike1slade
    Participant
    • Topics: 0
    • Replies: 5
    • ☆

    Exam was ok but came away feeling disappointed. The questions didnt give you lots of extra stuff to include from the scenario so felt like i was just repeating myself.
    Also question on defined pension benefit but said ignore competence etc of the expert and all other items had been confirmed by the audit team. How was you supposed to squeeze 7 marks out of that. (Had, audit risk, trade receivables, ethics for Q1)

    June 2, 2025 at 6:18 pm #717593
    adzrizalaji
    Participant
    • Topics: 0
    • Replies: 2
    • ☆

    Honestly, the paper was okay and quite doable. The questions were pretty direct, I think?
    Q1
    a.ROMM (22 marks)
    Materiality was already given (3 marks), so I think 6–7 risks were expected.
    FVNA – Hinder liability not recognised
    Goodwill – Possible impairment issue
    Customer loyalty points – Potential contingent liability
    Accounting policy – Signs of management bias
    License – Should be an intangible asset
    Refurbishment cost – No breakdown; maintenance costs shouldn’t be capitalised
    b. Internal Control
    c. Audit procedures in the acquisition calculation
    d. Ethical issue
    Q2
    Quality management (15marks)
    This one took my time a lot as there was so many points that can discuss. However i only make 10-12? I cant even remember. (Confused the verb comment and discuss lmao)
    Audit opinion
    I wrote disclaimer as it was material and the deferred revenue can impact the whole fs include sofp,sopl, and cf.
    Q3
    Term of agreement of the profit forecast assurance? I think so
    Internal control
    Audit procedures on the profit forecast.
    Anyone got this variant like this? Whats your thoughts on that paper?

    June 2, 2025 at 7:16 pm #717599
    adzrizalaji
    Participant
    • Topics: 0
    • Replies: 2
    • ☆

    *Materiality can give 3 marks

    June 2, 2025 at 8:04 pm #717600
    Harsharma
    Participant
    • Topics: 0
    • Replies: 2
    • ☆

    Please can someone tell me the mark allocation for Q1 which had the receivables question.

    As far as I remember the first part was 18 marks

    The receivables question was 12 marks

    The ethics question was 6 marks

    So was there another question for 4 marks or was the ethics question 10 marks?

    June 2, 2025 at 8:16 pm #717601
    Juraashek
    Participant
    • Topics: 0
    • Replies: 2
    • ☆

    Hi, I think the distribution was:

    ROMM 18
    Trade AR 14
    Ethics 8

    Did anybody else feel like Q2 or 3 was identical with published pre-exam mock? 😮

    June 2, 2025 at 8:21 pm #717602
    Harsharma
    Participant
    • Topics: 0
    • Replies: 2
    • ☆

    Ahh okay thanks makes sense. I thought I missed a 4 mark question

    June 2, 2025 at 11:04 pm #717604
    IrenMak
    Participant
    • Topics: 0
    • Replies: 1
    • ☆

    I had absolutely the same variant.
    Everything was OK, except for the time constraints as usual)
    In connection to capitalisation also include risk on incorrect depreciation charge, but forgot to include a risk on translation which need to be recognised in OCI instead of PL.
    Also was thinking about specific focus in scenario to CF disclosure, but except for the fact that it should be included to invest activities and strange fact that purchase net of cash acquired = cash consideration.
    I was a little bit confused with Q1 (c) because it was specifically mentioned about valuation of brand not acquisition as a whole.

    Q2 was too load by facts, but i remember only overreliance on trial DA tool and these construction contracts you already mentioned. I gave a qualified opinion due to limitation of scope which is material but not pervasive on both levels (component and Group). Honestly, i was confused by the fact that if you provide an adverse opinion on component, how it can impact on group opinion?
    Q3 (a) there were a lot of marks allocated but all standard point such as nature, purpose and intended use of forecast were clearly described in scenario. I have realised it too soon and made no corrections(

    June 2, 2025 at 11:52 pm #717607
    mariochase24
    Participant
    • Topics: 2
    • Replies: 9
    • ☆

    For the trade receivables question, the allocation was romm 18, trade receivables 12, ethics 10 as for as I rmr

    June 3, 2025 at 10:00 am #717614
    aishwarya1294@gmail.com
    Participant
    • Topics: 1
    • Replies: 7
    • ☆

    Hey, Do you remember the mark allocation for this?

    June 3, 2025 at 10:00 am #717615
    aishwarya1294@gmail.com
    Participant
    • Topics: 1
    • Replies: 7
    • ☆

    Hey, Do you remember the mark allocation for this?

    June 3, 2025 at 10:08 am #717617
    aishwarya1294@gmail.com
    Participant
    • Topics: 1
    • Replies: 7
    • ☆

    Do you remember the mark allocation for section A

    June 5, 2025 at 9:12 am #717680
    MuhammadAhsan1822
    Participant
    • Topics: 1
    • Replies: 3
    • ☆

    Section A:
    Question 1: Group of hotel companies with the parent company called Mortimer who owned Winthrope. They acquired Ophelia as well.

    Mortimer was luxury hotels for people who wanted to unwind and relax.

    Winthorpe hotels was mostly used by people who were on work trips.
    Winthorpe had refurbishments of its hotels and they bought a license so they can sell food and beverages at the hotel for 24 hours a day.

    Ophelia was acquired because it had budget friendly hotels.
    Cash consideration of acquiring Ophelia = around $142m
    FV of net assets = around $120m
    Goodwill = $22m

    Exhibit related to Ethics:
    The group had requested assistance from the firm in preparing financial information that would be presented at board meetings.

    They also requested something for designing new KPIs (not sure, i dont remember)

    Note: Mortimer was NOT a listed company.

    Requirements:

    a) ROMM (22 marks)
    b) Audit Procedures on acquisition of Ophelia (5 marks)
    c) Describe Internal Controls (6 marks)
    d) Ethics question (7 marks)

    Section B:
    Question 2
    Completion and Reporting

    a) Evaluate the sufficiency and appropriateness of the audit evidence collected by the auditors (15 marks)

    Then they told us about an event which affected the audit opinion where they could not collect SAE.

    b) What would be the impact on the audit opinion because of this event (5 marks)

    Question 3:

    a) Quality management, professional and ethical issues question (14 marks)

    b) Corporate Governance Deficiencies (6 marks)

    So this is all that I remember from the exam that I had.
    From what I discussed with my friends, we had the same Section A but we did not have same Section B. If anyone had the same Section B as me, please let me know.

    June 5, 2025 at 6:44 pm #717699
    miraji
    Participant
    • Topics: 3
    • Replies: 21
    • ☆

    The ethics part in q1. was for 10 marks. In my afternoon paper.

    Audit risks :18 markd
    T receivables, Audit procedures: 12 marks
    Ethicsc: 10, giving
    Total of 40 + 10 prof =50 marks for q1.

    June 7, 2025 at 3:05 pm #717782
    savburke876
    Participant
    • Topics: 1
    • Replies: 10
    • ☆

    Exam was pretty much okay based on my assessment and in comparison to prior papers. However time management was critical. I was begging the computer for 15 more minutes at the last 5 seconds. I had so much more i could’ve written. ?
    If you actually finished that paper you are a sure winner

    June 7, 2025 at 3:05 pm #717783
    savburke876
    Participant
    • Topics: 1
    • Replies: 10
    • ☆

    Exam was pretty much okay based on my assessment and in comparison to prior papers. However time management was critical. I was begging the computer for 15 more minutes at the last 5 seconds. I had so much more i could’ve written. ?
    If you actually finished that paper you are a sure winner

    June 10, 2025 at 10:00 am #717857
    graceec
    Participant
    • Topics: 0
    • Replies: 6
    • ☆

    Q1 Unlisted group, high end jewellery seller, had acquired a perfume brand in the year who was audited by a component (Oud Co) and had seasonal sales. Already has a sub, Karat Co
    Audit Risks – 21 marks, materiality on assets. Struggled finding audit risk which was disappointing!
    Procedures on inventory
    Can’t remember this question, something to do with component auditor
    Ethical and professional issues

    Q2
    Matters to discuss & audit evidence we would expect to form part of the audit report:
    Investment Properties – 7 marks
    Defined pension contributions – 7 marks
    Question on audit opinion, and if they didn’t make adjustments what opinion would we give
    Adjustment was about an investment property, $3m, which was incorrectly accounted for, 1/3 of the costs should of been PPE and management didn’t want to adjust. Gave qualified opinion as material but not pervasive as only affected two accounted, but noted that if it had been impaired then it would be pervasive as it hits the P&L. No idea if that’s a valid mark though.

    Q3
    Pure knowledge question, no link to the scenario on ISQM2 & what an engagement quality reviewer did – 8 marks! which seemed a lot

    Quality management question for two companies – 6 marks each
    Pearl C was the EQR but had previously audited the company
    one had an assistant auditor, and the audit report was submitted without collecting all evidence

    The ISQM2 question completely stumped me but was able to give a bit about the EQR. Had just watched the ACCA pre-june workshop before my exam, which looked at ISQM1

    June 10, 2025 at 10:00 am #717858
    graceec
    Participant
    • Topics: 0
    • Replies: 6
    • ☆

    Q1 Unlisted group, high end jewellery seller, had acquired a perfume brand in the year who was audited by a component (Oud Co) and had seasonal sales. Already has a sub, Karat Co
    Audit Risks – 21 marks, materiality on assets. Struggled finding audit risk which was disappointing!
    Procedures on inventory
    Can’t remember this question, something to do with component auditor
    Ethical and professional issues

    Q2
    Matters to discuss & audit evidence we would expect to form part of the audit report:
    Investment Properties – 7 marks
    Defined pension contributions – 7 marks
    Question on audit opinion, and if they didn’t make adjustments what opinion would we give
    Adjustment was about an investment property, $3m, which was incorrectly accounted for, 1/3 of the costs should of been PPE and management didn’t want to adjust. Gave qualified opinion as material but not pervasive as only affected two accounted, but noted that if it had been impaired then it would be pervasive as it hits the P&L. No idea if that’s a valid mark though.

    Q3
    Pure knowledge question, no link to the scenario on ISQM2 & what an engagement quality reviewer did – 8 marks! which seemed a lot

    Quality management question for two companies – 6 marks each
    Pearl C was the EQR but had previously audited the company
    one had an assistant auditor, and the audit report was submitted without collecting all evidence

    The ISQM2 question completely stumped me but was able to give a bit about the EQR. Had just watched the ACCA pre-june workshop before my exam, which looked at ISQM1

    June 12, 2025 at 8:38 am #717895
    rizanmhuq
    Participant
    • Topics: 0
    • Replies: 1
    • ☆

    I got this same paper.

    Q1 .
    a) Audit Risks – Unlisted group, high end jewellery seller – Mid year acquisition – I got 4 Audit risks that i was Certain about – rest i had to nitpick (Materiality 3M – 19 Marks Audit Risks)
    b) Inventory Valuation or Count(Existence) Procedures – either of these assertion was in focus for procedure – (Not 100% sure)
    c) Reliance on component auditors/ Quality of their work – they made some wrong assumptions and treatments (Not 100% sure)
    d)Ethics and Professional issues – Management asked for key Advice on finding suitable target acquisition firms for the parent – assuming management responsbility – self review

    Q2
    a)Matters to discuss & audit evidence
    – Investment Property – matters and evidences – 1/3 of asset – owner used – IAS 16 incorrect classifed as IP – 7 marks
    – Defined Contribution Plans – matters and evidences – Acturial gian/loss posted to Profit instead of OCI – incorrect IAS 19 treatment – 7 marks

    b) Implications on Audit Report for the issues in a) if it was not corrected post communication to TCWG – Material but not pervasive – Modified report/ Qualified Except for

    Q3
    – a) ISQM 2 – Eligilbility of EQR before a EQCR – Not related to any exhibit – 8 marks – Only got 7 points
    – b) Exhibit a – EQR Contradictions with ISQM2 – Striking part was that Partner was working on the engagement for 15 Years lol.
    – c) Ethics and ISQM – Auditor Expert – Who was a cousin to a Director of a company

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