2012年6月ACCAP7高级审计与认证业务题目示例P7AdvancedAuditandAssuranceJune2012GeneralCommentsCandidates’performanceintheJune2012P7paperwasunsatisfactory.Thepaperwasthefirsttobesetinanewstyle(explainedinExaminer’sarticlesinJanuary2012).Candidatesdidnotappeartofindthenewstyleproblematical.However,candidates’lackofabilitytoapplytheirknowledgetothescenariosprovidedcontinuestocontributetothelowsuccessrateforthispaper.Andunfortunatelymanycandidatessimplyfailedtoanswerthespecificquestionthathadbeenset.TheexaminationcomprisedtwocompulsoryquestionsinSectionA,andthreequestionsinSectionBofwhichtwoshouldbeattempted.BothSectionAquestionswerebasedondetailedscenarios,andcontainedseveralrequirementscoveringdifferentsyllabusareas.Eachoptional18markquestioninSectionBincludedashortscenario,andseveralrequirements.OfthesectionBquestions,question3wasthemostpopular,andquestion5theleastpopular.Similarfactorsasdetailedinpreviousexaminer’sreportscontinuetocontributetotheunsatisfactorypassrate:•Failingtoanswerthespecificquestionrequirements•Notapplyingknowledgetoquestionscenarios•Notexplainingordevelopingpointsinenoughdetail•Lackofknowledgeoncertainsyllabusareas•Illegiblehandwriting.Therestofthisreportcontainsadiscussionofeachquestion,highlightingtherequirementsthatwereansweredwell,andtheareasthatneedimprovement.SpecificCommentsQuestionOneThisquestionwasfor37marksandinvolvedapropertydevelopmentcompanywhichwasalong-standingauditclient.Thecandidatewasplacedintheroleofanewlyassignedauditmanager,whosefirsttaskinrequirement(ai)wastoexplainthemattersthatneededtobeconsidered,andthefinancialstatementrisksrelatingtotwoissues.Theplannedauditproceduresinresponsetotherisksidentifiedwerealsorequired.Thisrequirementwasfor16marks.Candidatesrespondedwelltothenewstyleofquestionrequirement,wherebythespecificrequirementwasprovidedinanemailfromtheauditpartner.Thewordingoftherequirementshouldhavebeenfamiliarashasbeenusedinmanypastquestions.Mostcandidatesrecognisedtheloss-makingnatureofthecontractdescribedinthe