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What not to do in an ACCA P7 exam

29 June 2017

Why are candidates re-writing the question in their answer paper, asks the P7 examiner in her March Examiner’s Report.

Another no-no for exam candidates is using vague phrases like “performance analytical procedures”, “check the relevant documentation”, and “in accordance with the relevant standard.” These cannot earn you marks in an exam at this level. You must develop the point to get those marks.

She is also concerned with the obvious lack of knowledge shown by some candidates. “An error cannot simultaneously overstate assets and understate profits.”

It appears that candidates are continuing to take a linear approach to their exams and are not linking auditing to other topics. She again urges candidates to re-learn the basics of auditing – ethics, independence, robust third party evidence, audit risks and understanding the proper use of audit opinions.

The next issue of PQ magazine will have a P7 report from the examiners’ workshop at the Global Learning Conference. We also have a feature on audit procedures. Remember you can sign up for your free magazine by clicking on the ‘free mag’ button.

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