Forums › ACCA Forums › ACCA AAA Advanced Audit and Assurance Forums › [POLL] June 2010 Paper P7 Exam Results / Genius Hunt
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- August 23, 2010 at 3:43 pm #66907AnonymousInactive
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Passed with 51. Am now an affiliate. Owed my success to Mr. Chee from SAA S’pore.
August 23, 2010 at 3:44 pm #66908AnonymousInactive- Topics: 0
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Passed with 51 and congrates to all who has passed or graduate.
August 23, 2010 at 8:21 pm #66909AnonymousInactive- Topics: 0
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Passed with 70.
So relieved, I am now an ACCA affiliate after also passing P6 this sitting.
Congratulations to all who have passed and good luck to anybody having to re sit.
August 23, 2010 at 8:36 pm #66910AnonymousInactive- Topics: 0
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Passed , and got 68 Marks…!!!
i was expecting bit more.!!!
shit
waeva Thanks to GOD.!!!August 23, 2010 at 9:20 pm #66912AnonymousInactive- Topics: 0
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Hello all, I passed with 56…wasn’t sure of passing. I was ok after the exam I had calculated I would get 56.5, then after debriefing with friends and in here I wasn’t sure anymore… but I passed yeah!!! I am an affiliate now.
Anyhow here is the review I wrote after the exam, I hope it is helpfull for the people who weren’t successfull. All the best for you!
Q1 (34 marks)
a) Audit risk, briefing notes (18)
b) Reliance on component audit work (Siddle) (8)
c) Principal audit procedures
Non controlling investments owned by parent (4)
Conditions of grant, given to subsidiary (4)
Include 2 professional marks, I guess for briefing notes in part (a)
Q2 (26 marks)
a) Benefits of outsourcing the Internal Audit function, relating to scenario. (6)
b) Impact on external auditor’s work, as a result of internal audit being outsourced. (4) or 6)
c) How to quantify the fraud in scenario. (4)
d) Report that deals with
i) Management/ Auditor responsibility in Fraud (4)
ii) Benefits and drawbacks of setting an Audit Committee (4)
2 additional professional marks for the report. (2)
I am not sure whether part (b) was 4 or 6 marks, the difference will make part (d) either a 8 or 10 marks. Please input on this one.
Q3 (20 marks)
a) Discuss blame if unmodified report is incorrect, auditor highlight GC. (8)
b) Funding issues, forecasts and projected information
i) Matters and procedures in regards to funding sought. (6)
ii) Ethical and other considerations before accepting PFI assigment. (6)
Q4 Ethical & Other Considerations (20marks)
6, 6, 5 & 3
I found the paper fair, I agree with the amount of info, way too much info to go through and many different requirements, had to do lot of planning limiting the amount I could write due to time pressure.
I wasn’t expecting the focus in Internal Audit, I think one of the BPP tutors tip this topic during a revision class but only once/ twice no major emphasis.
I did Q3, Q4, Q2 and Q1 at last, as I usual overrun with risk questions, and as I was expecting it, I did overrun, so happy with my approach.
I found Q4 and Q2 nice, still a lot to do in Q2, but I was ok with Fraud, I use SODIT for Internal Audit, and common sense in I/C for Audit Committee.
Q3, part (a) I think I missed the point on the audit report impact and GC, just notice the point after debriefing with other students, .
I overrun in Q1, did part (b) and (c) first to ensure I got the basic marks
I felt ok after exam, no much anymore after debriefing with other students, we’ll see in August, I hope for a pass.August 23, 2010 at 10:23 pm #66913AnonymousInactive- Topics: 0
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51
August 24, 2010 at 12:54 am #66916AnonymousInactive- Topics: 0
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passed with 52.Now an affiliate..:) thanks to almighty ALLAH
August 24, 2010 at 3:34 am #66917hi there
any body knows what is the highest score somebody got in P7, and where to find them
thanksAugust 24, 2010 at 6:39 am #66918AnonymousInactive- Topics: 0
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Am a real gentlman with gentleman’s marks..P1 52%, P3 50% and P7 50%….thanks open tuition for all the help.Now going for the last 2 ..P2 and P5.
August 24, 2010 at 8:53 am #66919AnonymousInactive- Topics: 0
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passed with 52 and are now affiliates, Allah ka shukar
August 24, 2010 at 2:06 pm #66920AnonymousInactive- Topics: 0
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Fail with 38. Thought I did better … I am confused.
I did worst on P5 and I passed.Does anyone knows if U are getting penalties for every mistake U make on this paper?
I heard such a version and I am starting to believe it :(.August 24, 2010 at 3:52 pm #66921AnonymousInactive- Topics: 0
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unfortunately I failed for the 2nd time (47%)
the first sitting I got (48%)I am devastated!!
For all those passed would you kindly please advise of some tips to pass this paper? an inout is much appreciated. I think my technical knowledge is good but maybe I am not writing enough points?
Which college do you reccomend taking into consideration that I am in full time employment. I have already been with BPP.
I will also be sitting my P3 paper (Business analysis), for those who sat it, is it a tough paper. From what I read it appears to be less technical than P7?
Look forward to your comments
August 24, 2010 at 6:05 pm #66922AnonymousInactive- Topics: 0
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Same here. Failed with 44%. This was my third attempt. I just do not know what I am doing wrong. I think I have good technical knowledge but probably not giving enough or not making clear points.
First time I went to college and failed with 41%. To be honest I did not like the lecturer and ended up sleeping in classes. Second time I did not study at all just reviewed materials few days before exam and got 47%. Third time I went to classes again. I loved the lecturer, he was very good, very exam focussed. Unfortunately I have failed again (44%) 🙁
I am so frustrated. This sitting I will not be going to classes again, I am too busy at work and can not afford to keep paying for the same course each sitting. I have purchased a distance study package from BBP. Hopefully I will do better this time.August 24, 2010 at 8:00 pm #66923sound knowledge of auditing concepts is essential if u want to excel but what is even more important is your application and analytical skills which can only be gained through detailed past paper practice nd this should be started early in ur studies
August 24, 2010 at 8:33 pm #66926pas at exact 50. thank god
and thanks to admin as wellAugust 24, 2010 at 9:29 pm #66927AnonymousInactive- Topics: 0
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I feel my full script was not mark..impossible to get 37 marks…last sitting Dec i left out 15 marks questin and got 45 this time i did everything….an felt confident..even after seening the answers….i feel ACCA need to give results with total marks to each question attempts..nottin hard..just have the programmer do it on system..i beleive all my question was not mark…37..nah thats dead wrong…
August 25, 2010 at 5:49 am #66929AnonymousInactive- Topics: 0
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Passed with 61 and 53 for P5, now an affiliate. Thank God. 🙂
August 25, 2010 at 8:27 am #66930AnonymousInactive- Topics: 0
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This is my third fail in this paper. Any hints on how to pass this paper please before I quit??? A very well done to all those who passed.
August 25, 2010 at 8:35 am #66931i failed on 47%, just short of 3 marks in affiliation, Next Time INSHALLAH,
August 25, 2010 at 1:35 pm #66932AnonymousInactive- Topics: 0
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i feel the same i got only 35. i also feel my whole answer book was not marked!!! i was confident on the questions and i wrote 18 pages!!!! they charge you if you need to get it remarked. and to be honest. i dont think they will tell you that yes they made mistake and they have uneducated people marking it because this will defame their image. According to their policy they have no right to show you the script.!!!!!!! the way i see it they just have to fail students to keep the balance. what a bloody scam!!! can’t u see there is a correlation to pass rate to each exam paper EVERYTIME round about to same average. What a lovely co-indicence EVERYTIME. seriously. they just want you to fail so that they can keep fees coming……………..my paper was well answered¬!!!!!!
Same here, got 47 but was very confident coming out of the exam. wasn’t as confident for P6 and I passed that with 62!!
As soon as I saw the results I downloaded the paper, answers and marking scheme. I went through and marked it conservatively, if in doubt about what I wrote I didn’t give the mark. My total came to 57!!
Answered 5 booklets, about 40 pages all together, time management was spot on and I completed the paper, made me think the only possibility is that one of the additional booklets hasn’t been marked (they’re only about 5 pages so would equate to about 10 marks possibly!) I rushed to complete my details on the last booklet and the supervisor wouldn’t let me finish, she said it would be fine if they’re all fastened together!!?
I’m going to submit an admin review form to see what happens. It’s only £50 so cheaper than a resit and it would save 6 months of messing around as this is my final exam. Having read the website though, they don’t re-mark your script, just check procedures have been followed, hence, I don’t know if this would pick up an error like this!
August 25, 2010 at 4:09 pm #66933AnonymousInactive- Topics: 0
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Wow- I only used one booklet and got 50%- our lecturer told us not to write too much as this would annoy the marker!
August 25, 2010 at 5:12 pm #66934AnonymousInactive- Topics: 0
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@kolers said:
Wow- I only used one booklet and got 50%- our lecturer told us not to write too much as this would annoy the marker!Our lecturers just said “leave plenty of white space” i.e. don’t cram everything together. They’ve said this for all the other theory papers too and it’s how I’ve always gone about the exams with no problems.
The 40 pages wouldn’t therefore be crammed with writing, it’d just be spaced out so it’s easy to read. e.g. Every point for a question would have a:
Heading
Then your comment as laid out here,
Heading 2
Comment 2… and so on
Each question/ sub question started on a new page as instructed also. The pages soon mount up. The actual word count between a 20 page script and a 40 page script wouldn’t necessarily be very different depending on layout.
If you consider that the model answer is written using about a size 8 font and is about 9 pages long then that’s probably about 6000 – 7000 words. Using ‘average’ size hand writing and spacing things out that’s a whole lot of pages!!
Slightly off topic; I think going down the on screen marking route is asking for trouble anyway, it’s been reported that it caused countless problems when schools first introduced it for marking A Levels.
You had kids getting D grades when an A was predicted and so on so they looked into these cases. It turned out that a lot of them should indeed have been given an A but didn’t shade the front sheet in clearly enough etc. As a result the scanner wouldn’t detect some pages of their scripts and the marker would be none the wiser.
I don’t know what procedures ACCA have in place to detect any such errors!? I know they must have tested the system thoroughly before implementing it but it seems harsh that some candidates could fail a paper on a technicaality like this, with no available avenue of appeal/ re-marking.
The transparency of the marking and appeals procedure needs to be addressed but I guess this could question their credibility and wouldn’t be feasible for so many candidates!
August 25, 2010 at 6:03 pm #66935AnonymousInactive- Topics: 0
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hi there
i’m shocked with my result. i got 39. i was expecting a 52/53. this was my third sitting. last time i got 48. i felt that in this session i did better. I do not know where what I did wrong.
August 26, 2010 at 3:39 am #66937got 67. 🙁 i knew id get a low score coz i thought the paper was easy. Whenever i think a paper is hard, i end up with great scores. Strange. There goes my average.
As for the secret to passing…aim for more than 50. If u aim for 50, ur gonna end up with 30. All i did was study the FTC book and go through the revision kit briefly, paying particular attention to the clarity project summary. Know your ISAs well. Rest is common sense. I only wrote one booklet, had about 10mins to spare after i finished writing the answers. I have absolutely zero auditing practical experience and i dont work in accounting nor consider myself an accountant. So everything i got was straight from the textbooks/revision kits.
Oh and of course, u need to be spot on with IFRS/IAS.August 26, 2010 at 5:34 am #66938AnonymousInactive- Topics: 0
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@leo2010 said:
unfortunately I failed for the 2nd time (47%)
the first sitting I got (48%)I am devastated!!
For all those passed would you kindly please advise of some tips to pass this paper? an inout is much appreciated. I think my technical knowledge is good but maybe I am not writing enough points?
Which college do you reccomend taking into consideration that I am in full time employment. I have already been with BPP.
I will also be sitting my P3 paper (Business analysis), for those who sat it, is it a tough paper. From what I read it appears to be less technical than P7?
Look forward to your comments
Im self study and full employment also.i sit 4th time to pass the audit with 50 and together P3 1st time and pass with 62 for this session.i recommend you to study the technic to answer,sometime you not write what they are required,for example the question asking you about comment,you should not just write a short point but not elaborate the point to more detail and if give some example will give you additional point.well this is what im feel make me pass.hope can help you.
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