Reading the previous paper for F8 seems to indicate that the paper was set at a more doable basis compared to the Dec 2009 paper. The examiner has also included in the examiner answer, reference to IAS, which was not something unexpected.
The new style of examining of audit, which includes an emphasis on the accounting standard is consistent with P7 paper, where Lisa Weaver/Kim Smith has already examined the P2 standards in the P7 paper.
The transition from Alan to Pam, should be one that moves the paper to be more dreaded paper, to one which is of similar standards to F7 and F9 paper. This I believe is in the best interest of the students, since it would allow for a more balance approach when studying for ACCA examinations.
That said and done, Malaysian students will always find written papers harder compared to computation papers.
I did enjoy reading the previous paper for F8, it seems more direct compared to previous testing - where the knowledge required is clearly stated. There was a sufficient balance of procedure based questions that required understanding as well as knowledge based questions.
The questions that was asked in the previous F8 paper are summarised below:
Planning 4
Risk 10
Substantive procedures 6
Controls 10
Regulatory 5
Materiality 5
Procedures 14
Controls 6
Acceptance procedures 5
Ethics 15
Going concern 10
Procedures 6
Reporting 4
The paper had a total of 31 marks allocated for procedures based questions
The balance was well spread to cover the overall syllabus, with sufficient coverage of controls and ethical matters.
Overall a reasonable paper
Good luck on the results
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