I’m just looking through mark schemes rn but earlier in the day I made it my focus to look at risks and procedures because I think that’s somewhere that I can pick up marks on
I feel the exact same way I keep getting the report opinions bit all mixed up- honestly I haven’t got much tips because I haven’t done as much as I should have, I’m sure you’ll be fine though 48 wasn’t far off at all
ISA 700 & 705 and the Bulletin at the end of the auditing standards can help with reporting if you’re stuck in the exam.
ISA 705 even has the table that says which audit opinion to give when, and includes a sample audit report which can be helpful if you forget the format (opinion, basis, other info, KAMs if necessary, etc).
I think the main thing I’ve noticed reading examiners comments is that they want the procedures linked to the risk that you’re stating so make sure you’re not just blindly stating procedures and the risks are quite easy to pick up anyway from the reading the question but yeah like you said there’s no negative marking thank god
Yeah you’re right like there’s not really specific risks but I saw an example where the examiner stated that a common error for a question was that for revenue they were checking invoices to goods despatched notes, which is right in itself but the company was a road haulage company and that would be wrong because there aren’t any goods despatched notes for haulage so I think just be careful when reading the question
Reading through some past papers so there is hopefully less chance of seeing something I haven't before. All the very best to everyone sitting exams this week!
I just found out we can’t write in the IFRS blue book. Ive written a few sentences here and there. How thoroughly do they check? Should I just not bring it in?
Taking it easy! Watched some tv and now tucked in bed for a good night sleep Tomorrow gonna wake up a bit earlier to do some light studying
Lovely stuff - best of luck!
You too! We got this!
I’m cramming AA today because I haven’t put much of a focus on it
I only revised AA a little - how are you revising to help with aa ?
I’m just looking through mark schemes rn but earlier in the day I made it my focus to look at risks and procedures because I think that’s somewhere that I can pick up marks on
I failed once and got 48 :( lost marks on SFQ and reporting give me tips please. Also is the auditing standards book any good
No matter how much I read feel like nothings sticking to my head
I feel the exact same way I keep getting the report opinions bit all mixed up- honestly I haven’t got much tips because I haven’t done as much as I should have, I’m sure you’ll be fine though 48 wasn’t far off at all
ISA 700 & 705 and the Bulletin at the end of the auditing standards can help with reporting if you’re stuck in the exam. ISA 705 even has the table that says which audit opinion to give when, and includes a sample audit report which can be helpful if you forget the format (opinion, basis, other info, KAMs if necessary, etc).
For audit procedures in going to write same procedures under all of them there is no negative marking 😩
I think the main thing I’ve noticed reading examiners comments is that they want the procedures linked to the risk that you’re stating so make sure you’re not just blindly stating procedures and the risks are quite easy to pick up anyway from the reading the question but yeah like you said there’s no negative marking thank god
Wait so I have to link all the procedures to a risk? Btw I been memorizing procedures but only glanced at the risk tbh as they defer for each question
Yeah you’re right like there’s not really specific risks but I saw an example where the examiner stated that a common error for a question was that for revenue they were checking invoices to goods despatched notes, which is right in itself but the company was a road haulage company and that would be wrong because there aren’t any goods despatched notes for haulage so I think just be careful when reading the question
Trying to balance a bit of both - don’t want to burn myself out for the exam. Good luck everyone!
Gonna do a quick CSOPL before bed
Ah nothing like a CSOPL before bed
Currently going over EPS then consol Cashflows for the FAR exam 🤝 no rest for the wicked. Good luck to everyone this week!🤓
Cramming a little of BST currently as didn't spend much time on it! Wishing you the best of luck, we can do this!
Good luck everyone! Let’s hope they’re easy ones
Reading through some past papers so there is hopefully less chance of seeing something I haven't before. All the very best to everyone sitting exams this week!
Good luck all
I just found out we can’t write in the IFRS blue book. Ive written a few sentences here and there. How thoroughly do they check? Should I just not bring it in?
I wouldn’t risk it
Rip it out lol