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I find it so difficult to even guess how I did. It’s my first time sitting this exam. Feel like I wrote loads but no idea if what I wrote was right.
How’s everyone feeling?I wrote a lot in the deficiency question but like you, but unsure if it was right
Internal control deficiencies and audit risk question were difficult to identify.
I found the internal controls ok, but audit risk I struggled – didn’t manage to get 8! Only got about 6 I think.
Just hoping I’ve done enough!How did you guys find the Internal controls questions? I think it was the last of of the 3
I didn’t think they were too bad, you?
I think section A was hard?. Also struggled with audit risk – what sort of things did you put for that?Section A was harder than expected. Possibly fluffed the last question.
Did anyone get $2.25m for question three?
The Audit Risk was fine but as for the Internal Control, I feel as though they did not give away many deficiencies easily!
Hi,
I’ve struggled with Section A as well, very tricky questions.
Part B surprised me with the amount of points for controls (usually I’ve done 15/16 points questions not 18!). I can’t remember any audit risks I’ve identified but I remember that there was 8 or 9 that I’ve identified.I think that now we should just put it behind us, relax and hope to see >50% on the 15th April 🙂
I wish you all that 🙂Section A was difficult! I got $2.25m as the answer for the calculation one too.
Just got to put it out of our minds now and hope for the best.Also, I feel like may score 49 and fail to 85 and be a prize winner for my country ) the range is wide, lots of writing but no assurance in success
I feel like 2.25 for that question was too simple. I got 2.81 as my answer. I’m not sure if that answer is correct. Can only learn from mistakes at this point.
I also struggled with finding 8 risks, I could only find 6. Section A was tricky too! Can anyone remind me what Question 3 was (the calculation one)?
It’s really hard to know if what you’re writing is correct!
There was a question about the shares being sold so one of the risks would be to overstate profits to increase the share price.
Not too sure if that was relevant though.I remember this. I think it was relevant. I think I put something about showing professional skepticism as the FD (I think) was selling shares as they may look to inflate their revenue/profits to boost the share price.
They were also looking for more ways as well to boost revenue on a separate note.
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