EXAMINER’S GENERAL COMMENT The performance of candidates was below average compared to the previous sitting. Few candidates exhibited a high sense of preparedness and a good mastery of the subject, scoring over 60%. The performance of most candidates, however, demonstrated lack of adequate preparation for the paper. Majority of candidates scored below 35%. 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 requirements of the questions were generally clear. Evaluation of the examination questions indicated that the syllabus coverage was good and provided candidates enough flexibility to appropriately respond to current issues in financial reporting. The difficulty level of the paper was standard and within expectation. Questions were evenly weighted; the paper followed the pattern of the previous sittings and is generally consistent in standard with the previous sitting’s paper. The mark allocations generally followed the weightings in the syllabus grid and commensurate with the amount of time and effort required to answer the questions. There were no questions deemed to be sub-standard by the moderators and examiners during the coordination and marking. Again, the type, relevance and quality of the questions provided in the examination were well-balanced. No typing errors were sighted in the questions.