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@accaglobal_bot For Uzbek students https://t.me/accauzbekistana f5 https://t.me/f5performancemanagament f7 https://t.me/FRfinancialreporting f8 https://t.me/f8auditandassurance f9 https://t.me/F9FinancialManagment
Good day everyone
06.03.2024 Audit and assurance exam
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Section B
8 audit risk for 16 marks
3 control deficiencies with recommendations for 6 marks
Procedures for NCA additions for 4 marks
4 mark was for matters that considering significance control deficiences
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Procedures for payrol expenses 5 marks
Procedures for legal claims 5 marks
Going concern indicators 5 marks
Audit responsibility over financial statements 5 marks
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Audit opinion for 5 marks
5 Control deficiencies with recommendations with test of conrol in payrol and NCA valuation. 15 marks
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Overall I obtained sufficient appropriate evidence to conclude this exam was not too difficult😂👍
Company had incurred advertising expenditure amounting 2mln$ and recognized it as intangible asset amortizing it 2years
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Please guys
if you remember your exam questions share in the group
June exam will start tomorrow
Good luck all my dears
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ACCA AA_AAA substantive procedures by Alan Biju Palak ACCA.pdf
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Want to know how you can master the exam mindset? Hear from ACCA tutor and mindset coach Andrew Mower, as he shares tips and techniques that can help you feel positive and more confident as you enter your exam
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#YouAskIAnswer
Part 1;
If I don't take Prinsip Perakaunan during SPM, can I pursue ACCA? I'm an accounting graduate from kolej matrikulasi with final cgpa of 3.96. Hence, my question still stands, should I pursue ACCA?
My opinion;
By all means, please pursue ACCA. ACCA is for hardworking people like you, who can study diligently using the right methods, consistent, focus, which can easily give you a pass in your papers. It's cliche to say this, but nothing beats hardwork. If you continue your passion in learning, you can be successful, either in your studies or at work.
Even if you're a slow learner, that's not an issue. I admit that I'm one too because I'm not the type of student who can memorise. However, once I get myself to a deep understanding of a certain topic, I can easily answer the questions no matter how complicated they are.
With the right amount of consistency, you can easily pass all papers. I have a lot of ACCA batchmates who performed incredibly well in accounting, despite not taking Prinsip Perakaunan during SPM. But they were able to become straight passers during CAT and ACCA. If you're contemplating whether you should pursue ACCA, this is for you.
Btw, to those who are taking December exams next week, good luck! Remember to take short breaks in between, when you're studying. You may read my March 6 post for some quick tips. Bye!
-Azid-
https://drive.google.com/drive/folders/1fg6jVvYErAvwYZjgBNqpjVLV4liTVUgo
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Who audits banks in Uzbekistan?
💰 Banking is an interesting activity all over the world, at least for me, and plays a very important role in the economy and finance in general. Just think about what it would be like if only one day the banks did not earn money, and how interesting it would be to look at the report of these banks themselves, and also who audits them in Uzbekistan?
📝 This article provides a list of banks and who audits them. In the article, banks are grouped into 2 groups: state-owned (with a state share) and private. Also a brief summary of the number of banks audited by audit organizations. All other information is in the pictures.
➡️ In 2023, two banks were deprived of their licenses from the Central Bank - Hi-Tech and Turkiston. It should also be noted that some banks from state-owned banks were privatized at this time, IpotekaBank - now part of the OTP Group, O`zagroeksportBank - completely changed its name, and now it has become AVO Bank. Also, at the time of publication, RavnaqBank rebranded and became Octobank, and QQB is now BRB. In addition, new banks opened in 2023, which will also serve to increase the audit market.
🔊All data is collected from open sources. Stay tuned.
🚀@akierkinov
Dr. Islamov Bakhtiyor, Doctor of Economic Sciences, Ambassador Extraordinary and Plenipotentiary of the Republic of Uzbekistan
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We are 10 000🤩
Thanks for all of you my dears😊
🥳🥳🥳🥳🥳🥳🥳🥳
Substantive procedures for capitalized refurbishment costs( additions) in PPE
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Morning session for AAA
Q1
-business risk
-audit risk
-inventory why is ROMM and procedure for assertion valuation
-professional issue and ethical for sustainabilit report
Q2
-matter to consider accepting new group audit client
Q3
-professional issue and ethical
-evaluate appropriate and sufficient work done on projected cash flow
-audit opinion regarding to the going concern
Detailed notes for SBR
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AJE
Adjusting journal Entries
Join @accaifrs group for More free materials
Centre-based exam timetables
June 2024 - ACCA exams (3-7 June)
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Here is the Google drive. U can find the f9 study text here
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🔖 Who can audit banks in Uzbekistan?
🔴 To audit banks in Uzbekistan, it is not enough to have an auditor certificate from the Ministry of Finance (or organizations that issue this certificate). Auditing organizations are required to have at least 2 auditors on staff with certification from the Central Bank, and to obtain this certificate there are certain requirements from the applicant: availability of an audit certificate, experience in international audit organizations or in a bank in certain positions.
🟢 Based on data from the Ministry of Finance and Economy as of November 1, 2023 - at that moment the number of such auditors is 23 - 10 of them work in the Big 4️⃣. Grant Thornton has the most such auditors - 5, it is also worth noting that this company has audited the most banks based on the results of 2022. It is also worth noting that UHY Tashkent has joined the list of auditing organizations that can audit banks - both of their auditors received this certificate in October last year, but one should also not expect that banks will appear in their portfolio - because the same situation exists with IBAC, at the end of 2022, they did not audit any banks in Uzbekistan - at least there is no such information in open sources.
🚀@akierkinov
🪙 Who made how much money in the audit of Uzbekistan?
🔠ack in May of this year, the results of the ranking of audit organizations in Uzbekistan were published. Here will be some data from this ranking.
🔠o, here are the 🔝top 20 audit organizations in Uzbekistan by revenue for 2022 (some organizations did not participate in the ranking for various reasons).
🔠he first places are not surprisingly occupied by companies from the Big 4, the first place is occupied by KPMG with annual revenue of 66 billion soums (about 5.9 million US dollars), and the second place belongs to Deloitte - 64 billion soums (5.8 million US dollars), and PWC is in third place. You may notice that EY is not among them since the organization did not provide data when compiling the ranking. What else you can notice is the gap between PWC and Grant Thornton. Uzbekistan is no exception for the audit market, as companies from the Big 4 are many times ahead of others all over the world.
❗️ It is also worth noting that out of the top 20 companies, only 2 ended the year with a loss - KPMG (very surprising) and Mazars Advisory. The average profit-to-revenue ratio among the top 20 companies was 33%; the highest indicator in this category is Kreston Tashkent (as much as 64%).
➖ In terms of net profit, Deloitte was in first place with 16 billion soums, followed by HLB Tashkent with 9 billion soums and Grant Thornton with 6 billion soums. The total income of audit organizations in Uzbekistan in 2022 amounted to 437.7 billion soums.
🔜 Expect even more analytics next.
P/S: Everything written is purely personal and has nothing to do with where I work and what I do. All data was collected from open sources.
🔗@akierkinov