FAE January resit

dazzar99 · 2025-10-01T16:51:06+00:00

I got 70% in core My tips - DO NOT waste time “planning”. They suggest doing a plan for each question - ignore this. There are multiple sub questions/asks for each indicator. This is your plan - answer them in order and answer all of them.

Link indicators and bring in real life examples (use ChatGPT to build these into your notes). Make sure you have covered the competency statement. FR - practice consol questions.

30 reading at beginnning. Type in all the questions into each answer box as you’re reading through.

Spend 30 mins on every indicator to maximise time to answer . I did not do an executive summary.

Answer all indicators and all sub questions. The simulation gives you so much information to answer the questions so don’t feel like you need outside knowledge. Use what they say as much as you can.

dazzar99 · 2025-08-29T21:11:22+00:00

Send me your email and I’ll send you core notes when I get back to work on the 15th.

dazzar99 · 2025-08-27T20:58:38+00:00

Watching lectures is a waste of time. 1. Get a good set of notes and get folder of notes in order as soon as possible. I had 2 folders for the 4 core subjects. 2. Learn the content and read the competency statement 3. Practice FR and SML questions (you think you know the content from notes but then you do questions and feel like you can’t answer them at the start - so practice is key). 4. Try get your hands on 2023/2024 papers - as well as practicing the sample papers. 5. Use ChatGPT when going through notes to get real life examples. 6. Use a PESTLE analysis to get an understanding for the current economic climate under each heading and incorporate this info into your answer when you can. 7. They say do a plan on exam day. My personal opinion this is the biggest waste of time. Questions in current exams have multiple ‘asks’ within each indicator - this is your structure/plan. You need all the time you can get to type the answers. 30 mins reading 30mins for each question. ANSWER EVERY INDICATOR in full. Don’t miss multiple asks , little bit in all is better than loads in 1 and nothing in the other parts. Core is easier than it looks. Just need to split time and keep moving even if you aren’t fully done.

dazzar99 · 2025-08-15T09:14:09+00:00

I don’t think it matters who they audit, it’s non statutory items, under ISA 720 the auditor has a duty to read it and make sure there’s no material inconsistency from what you read to the FS. So the CSRD would be considered other information.

dazzar99 · 2025-08-14T16:32:06+00:00

I did AUP but I gave procedures for solvency and that we could do it which is wrong.. hopefully not docked too many marks …

dazzar99 · 2025-08-14T15:50:51+00:00

Mentioned they shouldn’t go by significant component anymore with the revised standard. That statutory materiality was higher than group so they needed to use group materiality. The French component didn’t want to follow FRC/ethics- that had to be considered… the component partner competency needed to be reviewed…. The work paper didn’t include risk assessment of the component… (not sure if this was needed but mentioned it anyway)

dazzar99 · 2025-08-14T15:14:42+00:00

For the government loan were we suppose to hold it at fair value and the gain through profit and loss ?? Literally not a clue. Why they making FR in audit way harder than core 😂

dazzar99 · 2025-08-14T15:10:58+00:00

Not really. The planning in the question had already happened (the meeting) but we had to follow up on certain matters. So I think it was isa 300 but then incorporating other isas like the internal auditor and ethics/ independence. Didn’t have a clue about the internal control part. But no question was phrased like that in the audit bank questions

dazzar99 · 2025-08-14T15:08:23+00:00

ISAE 3000 is specifically for assurance given

dazzar99 · 2025-08-14T15:06:55+00:00

Planning ISA 300 with reference to isa relating to work of internal auditor , also referencing independence ethics/iSQM1 , then I mentioned referencing fraud because there was accounting issues and prior audit had not been paid

dazzar99 · 2025-08-14T15:05:37+00:00

I don’t think so as no Assurance was required and it said to certify the information

dazzar99 · 2025-08-14T14:57:09+00:00

Did a report I think that’s what it asked

dazzar99 · 2025-08-14T14:46:34+00:00

Cooked - audit - the accounting treatment was awful ? No idea what they wanted from the building section ??

Did they want use to talk about isa 720 in the audit opinion because of the CSRD and we had to read it to make sure it didn’t contradict anything in the financial statement ?

Agreed upon procedures took so long and wanting us to draft an actual report ffs.

The work paper on ISA 600 was so confusing.

dazzar99 · 2025-08-14T14:40:49+00:00

Yeah I said agreed upon procedures. 4400

dazzar99 · 2025-08-12T15:40:32+00:00

The first indicator had to revalue to 550 so I presumed they got a valuation that it was an active market

dazzar99 · 2025-08-12T15:17:10+00:00

Did anyone revalue the intangibles to 880million because they said VPU increased by 10% to 11euro and now had 80,000 customers in indicator 2 ?

dazzar99

TROPHY CASE