AAPaper F8 Dec 2010 exam was

yes, it is material but NOT a pervasive. You should read the Opentution notes, page 21

OMG..I am really discouraged to take F5 on Monday..

Can anyone advise about the question about value for money audit..What strengths and new ways to improve them has you mentioned?

Hope to get 50%..whaha..I began writing with leaving a space)))

Did it say in the information that the auditor had looked at lasts years warrenty estimate???

Hopefully by stating what it could have been I'll pick up a mark or so. I guess I should have chosen 'except for' though if we don't know the information why would it not be persaive?? It easily could have been.

That part was only worth 5 marks anyway.

Also anyone find (a) confusing in that question? Did they want a general chat about estimates or to apply it to information?

What sort of infortion did people put for the first question. The part on internal auditors & the 14 mark part?

I also thought ISA status was strange wording. Also the 'matters' questions were also!

I didn't realise there have been so many qu on IC. I'm very bad at time management so in every exam I just answer a qu (if I can!!), forget about it and move on. I think the exam was reasonable enough. And I also think it was enough time to answer all the qu. Fingers crossed in Feb!

Manage to complete paper on time.
I was also confuse with precondition, i think it was related to audit engagement letter which the auditor provide to management.

Yeah, I think it would be useful if we'd had some answers to the qu in the exam. Have potential, brief answers ever been posted in the previous years?

I think it should be an "except for" Because it did appear on the FS if am not mistaken and there was only a disgreement between management and auditor as there was a limitation in the scope na.

WHAT IS "BEST VALUE FOR MONEY???????"

Get the f outta here!!!!

Pray to allah i will pass.

it was ok

tough paper, not enough time ratios didnt have a chance to even calculate them......hopefully that magic 50 will appear in feb!!!!........status of ISA am not a clue!! just mentioned reporting guidlines fr accountants....

poor time management paper was okay couldnt attampt last question .tooo lengthy

value for money is to do with operational internal audits - the 3 e's - economy, efficiency and effectiveness. that's all I knew didn't know how to go about a value for money audit.

The paper looked ok.
Didnt have time to practice any ques at all before going to exams.
Thought of some logic things & wrote it down in z paper.

The paper was a tricky one.But it was surprising that no questions on ethics,Caats,sampling,subsequent events.

The examiner should learn to speak English properly. The wording in a number of the questions was simply APPALLING and so confusing - and I am English. I don't know how anyone who is not a native speaker could understand the gobblegook that this new examiner wrote. Shame on her!

Exams should be written in plain simple English so everyone can understand what is being asked - even us English!

i answered Internet audit to reduce fraud, error, increase the control effectiveness and operation more and more effective, as a result VFM... hahha...

Question was absolutely ridiculous!!!!!!!!!!!!!!

Qustion 1 was absolutely ridiculous!!!!!!!!!!

hardest paper of all time :(

guys i feel the paper was okay. the key is not to try and spot questions or follow predictions cause the disappointment of not finding what you expect alone will cost you marks.That being said, i am sick and tired of not being able to finish any exam. It is wearing me down.ACCA should be 4 hour exams especially with all the scenarios. More time = better quality

i thought it was hard, this was my second attempt, i got 48 in June and in my opinion this was a much trickier exam.

On first glance the question on internal controls in question 1 for 14 marks i thought looked okay but then actually finding 4 deficiences proved tricky. Oh well, lets hope for 50.

The question on value for money audits I put the 3's economy, efficiency, effectiveness.

All in all a hard and very time pressured exam. Im pleased I am not the only one who found it difficult.

Paper was damn damn easy...
The people who use to do selective study can make such comments as all of you are giving...
But don't worry....
InshaAllah, All will be WELL...

ratio question was it part of analytical procedure!its like question f5 assesing financial performance

Analysis the PYQ, only principle repeated.

I revised all areas and it was not an easy paper, so to say it was................I DON'T THINK SO!!!

Of course if it was easy you will have got 100 marks, I very much doubt it.

Guys how do you tackle the part of Audit risk?
My answer also included a Going Concern issues, compare the debt collection period and re-payable period for the both of receivable and payable, hence the cash is Nil and overdraft facilities granted, implied the cash flow difficulties.

F8 today...I'm in so much pain right now. Don't know if I'll ever recover.

Paper was ok although a bit lengthy.

What were the weaknesses in question 1 Purchase system

I think paper F8 should be combined with other interesting paper the is very boring it makes no sense to me if any one from ACCA is reading consider this, I think I have to repeat this dull paper again and you will continue to get the lowest passing rate in F8