news PQ
It’s compulsory – so get over it! ACCA APM exam sitters still seem to be caught out by the fact that section B of the exam is compulsory, says the September Examiner’s report. The examiner explained that there is a feeling among markers that PQs sitting this paper have not prepared to answer questions across the whole syllabus! The first step to passing APM is to have a good grasp of the basic knowledge, and for September many students struggled with value chain analysis (Q1) and risk and uncertainty (Q3). When it came to the AAA exams candidates were accused of merely listing points without applying their knowledge to the scenario. The examiner felt there is a lack of basic double entry skills, with candidates often confusing assets with liabilities, or assuming that if assets are overstated profit must be understated. • Check out our more detailed look at AA, PM and FM examiner reports on page 18.
Lying accountant convicted Chartered accountant Badal Arun Hindocha, who told his internet date that he was dying of stomach cancer so he could swindle £4,300 from her, has received a suspended prison sentence. Hindocha told Tina Mistry he needed the money because he had missed work to attend hospital appointments, messaging her: “If I don’t solve this problem, I’m dead.” After he received the money he tried to break contact with Mistry, but was caught when he went back
onto the same internet dating website where they first met. The defendant admitted fraud at Croydon Crown Court and was sentenced to nine months in prison, suspended for 18 months. Hindocha (pictured) was also ordered to pay Mistry £6,000 in compensation. In his defence, his lawyer Imran Khan told the court that the money had been used to install a downstairs toilet at his disabled parents’ home.
Audit ‘needs to attract brightest people’ The audit profession adds real value to society and needs to be a career that attracts the brightest and best, explained Sir Donald Brydon in his first public meeting since starting his review of the audit profession. He told a recent conference hosted by the ICAEW: “The whole trust in our corporate sector depends on people believing the information they are given and you [auditors] have a unique position to call out when that information is not in accordance with reality. What
Where are the auditors?
could be a higher purpose than the purpose that audit serves?” Sir Donald said he was worried that too much blame was being pinned on auditors for the recent high-profile corporate failures. He was troubled that in the current mood there is a “shotgun aimed at auditors every time there’s a corporate problem”. Sir Donald felt it is not auditors that cause companies to fail – it is the result of the actions of directors.
Make a difference Represent students in your area Join your local ICAEW student committee. Be the voice for students in your area and organise an annual programme of events. To find out more email Mauro.Lucrino@icaew.com
PQ Magazine December 2019
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