AUD Study Group – Q1 2018 - Page 14

@kim

Objective basically means you won't be biased in making your audit. I like to imagine that I am the independent auditor auditing a company and if you were also the CFO of that company being audited, there's no way that you would be completely “objective”.

Thanks Liiyum.

Kim

Sampling:
My book says sampling is used in both the Test of Controls AND Substantive testing phase of the audits. In the internal control phase the auditor will perform tests of controls on a sample basis to determine the operating effectiveness of the controls they plan to rely on.

But, I'm pretty sure I read in a MCQ that you cannot use sampling in TofC because you need to understand every control in the IC structure. What am I missing?

How did everyone do on their exams today? Time to rest up and re-energize for the next one!

Just got out of my exam and thinking this might be close. First testlet of MCQ weren't too bad, had a decent understanding on most of them. The second testlet got really hard, some of the questions were so out there and I had little to no clue how to do them. SIMS weren't too bad in my opinion other than one of them, which I'm hoping was the pretest one…

Overall it felt better than the last two times that I took it (69, 68) really hoping I can get this pass! Best of luck to anyone who are currently studying!

@jiji

Thanks! I really hope so too. I actually used a combination of Surgent CPA, Becker and Ninja MCQ/notes. I used Becker (back in Q3/Q4) to gain an initial understanding of the material but seeing my 2 fails, I knew that alone wasn't helping me get a pass for AUD (worked great for the other 3 though). I ended up getting Ninja MCQ/notes/book and Surgent CPA. I noticed these 2 software overlapped in almost every single MCQ (along with explanations), so I would recommend only getting one or the other. In my opinion these 2 software were probably the most similar to what you would see in the exam in terms of difficulty and structure (I used trials for other CPA programs). For SIMS, I highly recommend Surgent CPA as Becker and Ninja didn't have too many Document Review Simulations (although Becker does have the best “research” search).

Hi guys,

Had my exam on 19th, feeling relaxed that I am 50% done for AUD section.

1st testlest was definitely easy, and I felt like, is this really AUD CPA exam, or am I missing anything(any trap). I was done with 40 min, the 2nd testlet was definitely hard and wordy it took 50 min. Then 3rd was moderate and I left for the break exactly at 2 hours left for my 4th, 5th testlet. Then came the horrible part. So long and so wordy TBS, so many tabs to read. Last TBS I has no idea what to do, question was out of the blue. But I did educated guess at the last one.

My suggestion to you all: do as many Sims questions as available with the timer on, also MCQs as many as possible. Of course, no matter how many sims practice you do, there is, IMO, no review which would prepare you well for the difficulty level you face in the exam TBS. But, this doesn't mean you completely ignore SIMS practice.

I studied with Becker (1st try), Roger and NINJA MCQs (Retake). I could not do becker SIMS because it expired. I did Roger almost all sims & MCQs and at least 50 SIMS & 700 MCQs of NINJA.

Fingers crossed for Feb 6th.

GOOD LUCK, rest of you.

No Sure! Don't want to be overconfident. I was so confident that I would get in 80s in December on my first try, but lost it badly.

Now I just want to focus on FAR. Any tips? I took FAR in June-2016 and got 74!

I will be using Roger as my primary source and then I think I would supplement it with Gleim. Everyone says it's HARD and good amount of difficulty level like exam.