FAE 2011 Where to begin

FAEStudent1

There was a lot of confusion over this SIM - be sure to submit it as a complaint through the feedback channels. The more they recieve - the more they are likely to attach lower weighting to these indicators

Hanley

shery wrote: »

No, this was the 3rd last column that said quantity per "Chevall's records at 31 dec 2010". This is different to the Quantity listed in the 4th column from start which per the question was provided by client. The second last column was minimun quantity requirement. I mistook the 3rd last column as quantity per our observation. It was in fact the record held by Chevhall of the inventory record held by Executive Motors.

Essentially, there was no column of our physical inspection inventory numbers. The only column audit junior had added was Existence (column 5) and Comments (Last column 8).

EXTREMELY conufsing!

As you were reviewing her work papers I would expect that was one of the things you were meant to comment in on your briefing note to the manager and was probably an indicator you were expected to pick up, and not an error by the ICAI.

maddogcollins

Originally Posted by shery
No, this was the 3rd last column that said quantity per "Chevall's records at 31 dec 2010". This is different to the Quantity listed in the 4th column from start which per the question was provided by client. The second last column was minimun quantity requirement. I mistook the 3rd last column as quantity per our observation. It was in fact the record held by Chevhall of the inventory record held by Executive Motors.

Essentially, there was no column of our physical inspection inventory numbers. The only column audit junior had added was Existence (column 5) and Comments (Last column 8).

EXTREMELY conufsing!

I took it that it was an error and should have been noted in my review. I asked had a stock take been attended, sample count been conducted etc.. I felt that it was one of the indicators rather than an error.

Distraught Betty

That's only one of the possible choices that I'm sure you need to discuss, Im not worried about it to be honest. Once you mentioned some review points Im hoping that the institute give you the credit.

fancyanosh

FAEStudent1 wrote: »

There was a lot of confusion over this SIM - be sure to submit it as a complaint through the feedback channels. The more they recieve - the more they are likely to attach lower weighting to these indicators

they would be (slightly) more likely to lower the benchmark with regard to what you needed to get competent but this will mainly be done based on what students wrote on these indicators not the amount of complaints they receive!

all indicators are worth the same

fancyanosh

SL10 wrote: »

Just checked and its examinable on the competency statement. That is extremely annoying that the book says it wasnt examinable

A lot of that book was taken from ICAEW and those comments would be based on whatever exams they have to sit

on the copyright page it thanks the ICAEW for being allowed to reproduce material

Stey_9

When is the CASSI FAE report due out?

Rickyroma

Stey_9 wrote: »

When is the CASSI FAE report due out?

Will be out tomorrow

Why????

Rickyroma wrote: »

Will be out tomorrow

someone please paste the link when they are aware it's out!! Thanks

FAEStudent1

fancyanosh wrote: »

A lot of that book was taken from ICAEW and those comments would be based on whatever exams they have to sit

on the copyright page it thanks the ICAEW for being allowed to reproduce material

They also have a Chartered Accountancy logo on every page of the Audit elective book - which made is pretty confusing for us.

KingEnda

I will be attempting the FAE in 2012. From reading through this it appears that the material we will get from the Institute could be lacking in some key areas. Is that a reasonable concern?

Is there any other material that is more reliable?

Hanley

Sooo.... that CASSI report. Hmmmm....

Hackysack

Kind of surprised by how little was said about Audit Elective Sim 3 but it's probably due to the amount of feedback people actually gave on it.

I'm quite happy with the increased emphasis on getting repeat exams set up though. Hopefully something will come of it but i can't see the institute doing anything about it.

eoferrall

where does one get this report to look at?

hooch-85

Here

http://www.boards.ie/vbulletin/showthread.php?t=2056388907

SL10

Does anyone know when the examiners report is out? I heard rumour that one had been released already!

fancyanosh

SL10 wrote: »

Does anyone know when the examiners report is out? I heard rumour that one had been released already!

Don't think they would release it before results day - would cause widespread panic. Think they put out draft solutions on the day the results come out.

hooch-85

5 weeks to go. Longest fcuking wait ever!

Nidot

hooch-85 wrote: »

5 weeks to go. Longest fcuking wait ever!

Keeps popping into my head for the last few weeks that I've got these coming soon. Just praying now that I get them.

Hanley

...feeling less and less confident.

Coldplayer

Never felt confident in the first place . . .

noveltea

They seem like a lifetime ago now

Colts

Wish I could just get them now, the first month after the exams were fine but now it's wrecking my head wanting to hear.

I've convinced myself that i've cocked up the elective and i'm praying I pass CORE!

pepp

3 weeks This Friday Agh I feel sick already!:eek::eek::eek:

daddydick

Getting there.....

Sofa King Great

1 week.......

GraceKav

Heard rumours that the % results are in line with last year. Apparently there was some results meeting in Belfast. Have no idea how accurate this is though.....

mydiscworld

grainnecal wrote: »

Heard rumours that the % results are in line with last year. Apparently there was some results meeting in Belfast. Have no idea how accurate this is though.....

Proabably at the "Interpreting FAE Results”- A briefing for those who will be dealing with student FAE result queries

I would expect the pass rate to be in line with last year.
The pass rate overall dropped from 76.3% in 2009 (and 76.3% in 2008) to 62% in 2010.

Are you telling me the standard of student dropped 14% in one year? Not likely.

Likely that they either didn't allow enough for poor teaching of the 1st year of the new FAE; or allow enough for it being a new course when marking it; or the loss of compensation has really effected the pass rate.

For the pass rate to sizeably differ in 2011 compared to 2010 would show how badly they got it wrong in 2010 imho.

Hackysack

I'd be extremely surprised if the pass rate this year is remotely close to last year's...

mydiscworld

Hackysack wrote: »

I'd be extremely surprised if the pass rate this year is remotely close to last year's...

Do you think it will be higher or lower, and why?