8/17/2019 December 2013 Exam Tips F8

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December 2013 ACCA Exam Tips

 ACCA F8

The F8 exam consists of 5 compulsory questions. Question 1 is a 30 markscenario based question which will test a wide range of topics such as internalcontrols and audit evidence and audit procedures (both substantive and testsof control).

The second question focuses on testing knowledge and is worth 10 marks.This question is often broken down in to 3 or 4 separate requirements and canrequire you to define some of the key terms within audit and assurance.

Questions 3, 4 and 5 are worth 20 marks each and the requirements willlargely be based upon the given scenario. Typical areas which are tested in

these questions are corporate governance, ethics, planning, audit risk, internalcontrols, audit procedures and audit reports.

 Audit procedures, internal controls, audit risk and audit reports are almostalways examined so make sure that you can generate both tests of controland substantive procedures for key cycles and balances as well as being ableto identify internal control deficiencies. You should also ensure that you candraw out audit risks from a scenario as well as determining the effect auditissues may have on the audit report.