Paper F8 Dec 2010 exam was

@fuego said:
invigilator told me my script wld not be marked in blue pen when i was 1hr plus gone and on my 3rd question,asked for a new booklet so i cld quickly copy everything in black ink,he refused,so afetr abt 3mins of tussle i began turning pages to recopy everything in black ink ! felt f**ked,had to kill some beers before getting home.Lesson learnt.but i will have to pass anyways.
when did they start insisting on black ink ? my last diet was dec07

That was really poor invigilating. They’re supposed to read a bunch of stuff to you before the exam and the black ink requirement is part of that, unless you hadn’t been listening. Certainly they needed to have been more accommodating with the request for a new paper booklet.

The exam RULES r notified along with dates and any changes in fees each time in Student Accountant magazine, and in addition any relevant information is written in DOCKET. so it is assumed that no student should come to the exam hall without DOCKET. THUS it is students’ RESPONSIBILITY to make sure that they have read all the requirement before sitting an exam paper. The invigilator in his/her part has in this case responsibility but anyway, the PRIMARY responsibility is on student side. THEN remember you r going to be an auditor, so you should be OBJECTIVE, doesn’t this a case that u should JUDGE OBJECTIVELY.

I myself didn’t participate in june exams, but just one day before DECEMEBR F8 exam day made a call to our relevant Center and asked wether there was any change to the location of exam place since i had noticed another address written on my DOCKET. SO if i hadn’t done this i would surely lose one hour inorder toget to new EXAM HALL….

i could not understand 1a because of the style of english used.

The preconditions of an audit engagement include….
Client assessment, level of audit risk, client deadline and so forth.

I hope some1 wrote the same as me and i hope to get 50%.

The problem with the exam was the style of english used as the questions were hard to understand.

i feel very bad after taking the exams. so many questions focus on internal control system and internal audit!!!i think F8 should more focus on external audit! hope that i can pass

Where is sampling, subsequent event and Corporate Gov?
What is PRECONDITIONED man?
All the way long it was internal audit,internal audit and internal audit.
Not every one in this world is internal auditor!!!!

The paper was easier than I expected, but yeah too many INTERNALs and BTW what was PRECONDITIOND?

Over all I think I did OK, fingers crossed for a pass GOD WILLING.

@yazeedi said:
I am still looking for the marital status of ISA 😉

Divorced … from reality 🙂

Too much writing in too little time….examiner should remove one question…good time management was critical here

Preconditions – in my opinion and i do hope i;m not wrong here since its what i wrote around – Preconditions of what was agreed via the Engagement letter.

what is the answer for last question for the audit report

@stieve said:
Preconditions – in my opinion and i do hope i;m not wrong here since its what i wrote around – Preconditions of what was agreed via the Engagement letter.

What i wrote is that precon are

1) that the directors know their duties..etc..
2)that the directors know the right of the auditors (to have access to all info etc)
3) that all legal and ethical aspects were met(independence etc)

not sure bout it though..:S

The paper was tricky..did not expect these things to get out..

no ethics, barely some questions on external auditors ..:S i hope the best!

For the precondition question….here’s my two cents. The preconditions have to be present before the terms of the audit engagement are agreed on. So therefore before we even think of anything which belongs in the engagement letter,the conditions to be met are that the FS are prepared in accordance with acceptable GAAP, that mgmt acknowledges their responsibility for the control systems and agrees to provide the auditor with all records, info etc necessary that they’d need. Three main preconditions.

i also don’t know what is the Q’s precondition been defined. But i wrote as to “pre-check” before accepting any engagement, eg. any conflict of interest, staff ability, expertise required, experience in client’s industry or gained in the past of similar industry..