Hi Anushka, i'm taking f8 next march, and yes i believe it's a subject you can study by yourself. There are some previous exams posted in acca web, you can start your study from there. I usually try to answer the previous exam and assess my score based on the answers provided. Then i start my study from kaplan/bpp/emile materials (i prefer studying at coffee shop than at home since i could concentrate more, but it depends on your preference). Then about a week before exam, i do the previous exams and assess my score. I compare my score now and the previous one i did before studying, usually the score is better after studying.
The multiple choice in my opinion tests our understanding about audit of some basic financial accounting, hence you should consider some knowledge in basic financial accounting.
Essay 1 usually tests our knowledge in isa (theory). Next essay is about ethic threaths. Plan your study in this topic as i believe there are some threaths such as self review, advocacy, self interest, intimidation etc. Next essay is usually about study case in auditing specific business process e.g. payroll process or revenue process. You can plan your study by focusing on how to assess the risks in this process, what test of controls or substantive test to address the assertion.
Hope this help.
absolutely I just passed it. It is a relatively straightforward subject. There are some give away marks too. Focus on the 5 major parts of audit, they always come out:
audit risk, procedures (including ethics), evidence, report and test of controls.
Much easier than any of the other skills exams from F5-F9.
Make sure you practice questions from the exam kit. There wasn't one question that was bemusing to me when I took the exam and I self taught. Best of luck!
Anyone interested in studying together please? thanks
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