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Clarissa whistleblower. What a woman she is. She helped me in question 5b. 6 marks in the bag
Anyone else find question 1 required a lot more time than the later questions? So much to write in part 1a)i). Fair paper though.
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this was my last exam and i think i will be resitting in march. gutted.
question 1 was so lenghty, wasnt sure about the work in progress
Also was not fond of question 2- I knew there would be some kpis in there but didnt like the question one bit.
thought question 4 and 5 were ok, think question 2 just let me down big time 🙁
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Yes, I lost more than 1,5 hours with Q1 and I’m not sure that my answer was good enough…it was too much for only 3 hours.
It was ok but time pressured. I hope i have done good to secure a pass. The topics tested were below. I don’t remember some of it .
Q1 Audit Risk
a. Shared based payment
b.
Q1 Audit evidenceQ2
Q3 Matters to consider and evidence required
Q4 Ethical matters during audit
Q5 Matters to discuss with management
Q5 Its effect on audit report if not amended.
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Hi Robert just wondering what thus is as haven’t heard of it?
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the exam was a bit fair but please expect surprises
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My last exam i pray for a pass although the exam was time pressured
Q1 was audit risk, and additional info that might be required in respect of it, along with audit procedures for W.I.P and the Gov Grant.
Q2 part a) was explaining indicators that Kindasky was not a going concern.
Q2 part b) was recommending to Viola Ltd, alternative means of saving itself from creditors forcing liquidation.
Q3 was reviewing the audit file and information you should expect to find in the file in relation to three events: closure of the divisions, change in segmental reporting, and I can’t remember the other.
Q4 was the ethics question in three parts re a proposed advertisement, intimidation by the company being audited, and having knowledge that a current client might try the acquisition of another.
Q5 I didn’t do this question, so can’t really remember the requirement of it, although there was something about matters to be addressed with those charged with Corporate Gov and how the audit report may be affected in light of the situations specified.
Thought the exam was very time pressured and quite difficult this time. Q1 was very long and was easy to overrun. Q2 seemed difficult too ? Procedures for performance public info given? Q4 was OK but ran out of time on Q3. Just hope I did enough as last exam
exam was fair but too time pressured. anyway one have an idea on the standards for WIP, IAS 2 or IAS 16
@mingles said:
Anyone else find question 1 required a lot more time than the later questions? So much to write in part 1a)i). Fair paper though.yes, there was a lot to write about in Q1, whereas with the rest I didn’t feel that I was writing enough.
@demashi said:
exam was fair but too time pressured. anyway one have an idea on the standards for WIP, IAS 2 or IAS 16IAS 2: The manufacturing of the goods was for sale rather than for use in the normal operations of the business.
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Did not do q2 part b – what was it about, and how many marks?
Yes Q1 had me chasing time for the rest of the exam, hoovered up the marks on Q1 however so hoping that got me through
@rodneyregis said:
Did not do q2 part b – what was it about, and how many marks?It was for either 12 or 13 marks. I didn’t really get it either, but I think I should’ve gone down the line of it being a non-audit engagement and the pitfalls of that in the current situation. Alas, that’s not what my answer does.
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what are you talking about with q 2? it was about a going concern then kpis.
@leedsy said:
Yes Q1 had me chasing time for the rest of the exam, hoovered up the marks on Q1 however so hoping that got me throughLikewise! I think I did quite well in Q1, which will hopefully compensate for the rest of it!
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i had no idea with the wip not seen that before!
what did everyone put for the procedures for question 2- performance proceudres?
so gutted. that question was for 10 marks and i had no idea what to write!
One of the questions part b was around alternatives to Creditor voluntary liquidation – administration etc & procedures
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@sublime88 said:
what are you talking about with q 2? it was about a going concern then kpis.I did the going concern bit – where Kindansky had no cash and were in breach of covenants etc, other ratios and KPIs. But I believe there was another part?
CVA/Viola Ltd – was that on INT or UK variant?
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oh no- i dont think i answered that question. gutted 🙁 deffo resit in march
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