AAAP7 revision group – first session

the revision group activities for first session will be here on this thread

what topics are important ?

????? if you ask about the whole p7 syllabus, I can't answer you now because this thread for revision just the first 4 chapters on opentuition notes; 1 Rules of Professional Conduct 2 Professional Responsibility and Liability 3 Regulatory Environment 4 Practice Management

I would like to join

OK it's after 3 hours from now are you ready if so, come to this thread and Join us for all I'm sure that all those colleagues who want to join the group will not participate in the revision activities today I'm sure all of them just need to to join but not participate :(

I m ready to join

Hey cogs I’m so worried, I've read a lot but I think I can’t write anything here :( Anyway we should start and try to practice our hands and also try to discuss the important area OK, I hope there’re a lot of colleagues attend this revision today, We’ll start after 15 minutes

Ok, are we ready

I think now it's 8 pm UK time it's the time to start with a first chapter "RULES OF PROFESSIONAL CONDUCT" are anyone here?? I think I'm alone ok I'll wait till anyone come to start (I wish that)

Hamdy i am here

when i was going through chapter one i noticed a part that says that IESBA states that firms should not prepare account or financial statements for listed companies except on emergency. what circumstance would be considered an emergency?

hey Ifeoma you was worried that will be thousands of colleagues I was told you there is just me and you would you like to continue? or leave till tomorrow ?

perhaps we just do it via skype, these people are not serious

even tomorrow might just be me and you again

Ok let us arrange this issue through email tomorrow morning I'l send you email how to start but now really I feel very disappointing :( as I Said before they are just kidding boys

now I'm going to my dear friend Facebook

dont be disappointment, it was expected as Mikelittle told us.

have you downloaded the ppt file on the link above? see you tomorrow

how exactly do we get connected?

I think that everything is written on this thread we've wrote that we'll contacting here on this page no one came just everyone came to just write his name so crazy

hi because of the time difference i did not join todays discussion (5:00 pm + 8 hours ) its 1:00 am here in Kuala Lumpur . i read your discussion about the circumstance that would be considered an emergency. can we reconsider the time ? my email for tomorrow sunday discussion is :- a_e7012@yahoo.co.my

Dear all cogs Yesterday we've wait you a lot, but no one came So today will be the end of this movie if no attend this revision it’ll be closed permanently, again the revision plan (after minor modification) will be as follow; Date: Today - Sunday 17 Aug 2014 (5:30 pm till 7 pm – UK time zone) Subjects : revision of the first 4 Chapters Opentuition notes Revision plan: 1) open discussion about the important exam questions regarding those chapters 2) practice our hand and mind by write a brief points of what we’re learned / still remember of those first 4 chapters for those colleagues who can’t know the current time on London (UK) you can use this link https://www.timeanddate.com/worldclock/uk/london wait you all, also to discuss if to continue through the forum or Skype or open emails

Sorry house. I travelled yesterday for official job. I will be available today.

hey are there anybody ???? it's the time to start OK I'll start even I'll be alone

OK, as usual no one came let me start alone, I've just received my P7 new materials today (a few hours ago), and for the revision group I've selected 3 important questions related to the first 4 chapters (Opentuition notes) those are; Pilot paper Q Dedza Q5 (a) about the Need for ethical guidance for accountants (b) about Ethical and other professional issues that you should; Identify + comment on the point + state what action you'll be take

and the examiner answers plan was as follow; Answer plan; a) Need for ethical guidance for accountants Ideas (illustrative) • Legal responsibilities • Risk of offence • Confidentiality • Other reporting responsibilities • Professional etiquette • Accountants working in other jurisdictions (b) Ethical and other professional issues Ideas (i) Tax investigation • New client (relatively) – CDD • ‘professional etiquette’ – change in professional appointment • Quality control eg second review • Criminal property includes proceeds of tax evasion • Money laundering offence? • Suspicion of fraud (intent) vs error in incorrect tax returns • Disclosure by Dedza vs voluntary (confidentiality) • need for STR (ii) Advice on payments • Not a tax issue • Corruption and bribery/extortion – designated categories of offence • clear intent • seriousness in context of domestic laws • need to report to FIU? (iii) Financial advisor • designated non-financial profession • Customer due diligence/record keeping • Politically exposed person (PEP) • Reputational risk • Additional measures • Refusal to act

so as proposed by me, if the revision group will start, we should do the following; discuss the answers plan, practice our hand and mind by give a brief answers for this question but as it's still no one here (and will not come anyone) so I'll follow to the next important question

For the *b* part of your question, BPP uses the method i. identify ii. evaluate the significance of the threat iii. apply safeguard

Handy and ifeoma. I am available plz.

the answer plan you gave is very valuable as just identifying the threat alone will not give any mark