New style CR papers - learning points from November 2023
As you may be aware, ICAEW implemented a change at the November 2023 sitting which is important when considering how to pass the ACA Corporate Reporting exam.
From November 2023 onwards, the DAS question will now be Q2 (rather than Q1 as before).
In this blog post, we will look at the impact of this, based on the November 2023 past paper (which is, at the time of writing, the only example of the new approach that we have available).
Looking at Q1 of the November 2023 past paper, this was very much like an old-style Q2 in the sense that it is a very FR-heavy question. Looking at how the examiners tackled the question in their model answer, there is very little difference between this Q1 and an old-style Q2. The mark allocation of 30 marks is also similar.
In the same way, Q2 in the November 2023 past paper looks very much like an old-style Q1, with 42 marks on offer and a focus on Audit and Ethics content.
So, overall, the change appears to have had minimal impact as there seems to have been a straight swap between the questions, with Q1 now being like an old style Q2, and vice versa.
This is good news because it means that past paper Q2s remain valid preparation ... but only for what the new style Q1 is likely to be (and vice versa).
Given this minimal impact, we are not entirely sure why ICAEW have made this change and it is certainly a bit annoying to have to go through all our resources and courses and find any references to Q1 and Q2 and change these as required!
But from a student point of view, there is little significant impact and that is, as always, good news!
