EXAMINER’S GENERAL COMMENT Even though the performance is below expectation, it is nonetheless one of the best performances in recent years. A good number of candidates scored between 60 and 85 percent. Some candidates also scored very low marks between 0 to 39%. The performance of most candidates continues to show a lack of solid foundation and skills needed for the paper. Meanwhile, the questions fell within the approved syllabus of the Institute and the marks distribution was fair and in line with the syllabus grid.

STANDARD OF THE PAPER The standard of questions was appropriate for the level being assessed. The syllabus coverage was good and provided candidates with enough flexibility to appropriately respond to technical and current developments in Financial Reporting.