AUD Study Group – Q1 2018 - Page 7

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    Topic
  • December 11, 2017 at 10:59 am #1676695
    jeff
    Keymaster

    Welcome to the Q1 2018 CPA Exam Study Group for AUD. 🙂

    Introduce yourselves and let your fellow NINJAs know when you plan to take your exam.

    The Five Steps (NINJA Framework): https://www.another71.com/pass-the-cpa-exam/

Viewing 15 replies - 91 through 105 (of 317 total)
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  • January 2, 2018 at 10:23 am #1688690
    Harmony18
    Participant

    After receiving a 71 in Q4 I decided to do a review and retake the exam this Thursday.

    Jen J I did not know we could use the authoritative literature on the MC questions, thank you for the advice!

    January 2, 2018 at 10:34 am #1688693
    cpacpacpa33
    Participant

    where can we use authoritative lit on the MC? I know it's in the upper right during the sims, but I didn't think it was there for the mc too…

    January 2, 2018 at 10:55 am #1688707
    Jen-J
    Participant

    Shoot, the more I think about it, I had that wrong. I meant to say that you can use authoritative literature in the non-research SIMs. Oops. Will go back and edit. Yeah, that would be fantastic if we could use it in multiple choice, but we're not that lucky…

    Huh, it won't let me edit my previous post any more, it did let me edit this one though.

    January 2, 2018 at 1:40 pm #1688777
    cpacpacpa33
    Participant

    Any tips on heavily tested areas? I'm taking it tomorrow!

    January 2, 2018 at 4:28 pm #1688909
    Khushi
    Participant

    Pls give me tips for studying audit. I scored 65 earlier and then 74. I have cleared all other section

    January 2, 2018 at 7:05 pm #1688974
    jiji
    Participant

    @cpacpacpa33 Good luck tomorrow!

    January 2, 2018 at 8:44 pm #1689022
    Teal
    Participant

    Can anyone help with this? I am getting confused as to whether a review is an attest service or not. I see it listed under SSARs (Accounting & Review Services), but also SSAEs (Attestation Engagements). Is it somehow both?

    FAR (66,68) Aug 26
    REG (66) July 25
    AUD (66) December 1st
    BEC - October 3rd

    January 2, 2018 at 8:54 pm #1689028
    jiji
    Participant

    A review can be for both SSARs (Accounting & Review Services) and also SSAEs (Attestation Engagements) depending on whether it's for a public firm or private. If it's for a private sector it would be SSARs but if it's for public it would be SSAEs.

    January 3, 2018 at 9:47 am #1689155
    JMG
    Participant

    Did my AUD retake yesterday and I'm kind of left with mixed feelings on it. On the one hand I thought I did great on the MCQs, hit on everything I studied and nothing really caught me off guard. But the SIMS were a different story, some monsters in there. Not that they were overly complex/difficult but more like open to interpretation, not a clear cut black and white answer. I used the AL tab the entire time, hopefully it helped out in certain areas. My advice to anyone is focus all your efforts on nailing down the MCQs, the SIMS are just too unpredictable to study for properly.

    January 3, 2018 at 4:39 pm #1689329
    famh110
    Participant

    @Jen J…you were done in 2 hrs? wow! thats remarkable. any tips on how you achieved such level of efficiency?

    i am usually testing till the last minute so any advice would be appreciated!

    January 3, 2018 at 8:47 pm #1689434
    Operation_CPA
    Participant

    Best of luck to those re-taking! I am in the same spot and sit in 3 weeks or so. Gleim is definitely way more in depth than I anticipated. I have logged a total of almost 7 hours of studying and completed about 500 MCQ. Currently trending at 75%. Hoping to get this up as I continue to practice TBS and drill down into my weak areas.

    January 4, 2018 at 9:03 pm #1689896
    Just Do It
    Participant

    Hi Everyone, I'm new this journey! I'm Taking my first exam Auditing 1/29.
    I'm getting overwhelmed by the material to retain. I'm using Roger study materials. Any tips for taking this exam, will be much appreciated.

    What do I need to focus on the most? Thanks in advance.

    January 4, 2018 at 9:50 pm #1689904
    Teal
    Participant

    This might be a dumb question, but I can't seem to find a clear, straight answer. I know when an auditor does an nonissuer audit (AICPA rules), they do not issue a report on internal control. But when auditing a public company (PCAOB rules), I know they can do an integrated audit and issue a report on internal control. My question is: is the integrated audit with both internal control and f/s REQUIRED for PCAOB? Or can one choose to do only f/s audit and not internal control? Thanks for anyone who can help!!

    FAR (66,68) Aug 26
    REG (66) July 25
    AUD (66) December 1st
    BEC - October 3rd

    January 5, 2018 at 8:38 am #1689959
    itooshallpass
    Participant

    @Teal Here's what the textbook says: Under PCAOB an auditor of issuers is REQUIRED to report on management's assertion regarding the effectiveness of internal control as of a specified date.

    Seems like, by definition, “Audited in accordance with standards of the PCAOB” always includes an opinion on whether Mgmt maintained effective IC over financial reporting.

    January 5, 2018 at 3:44 pm #1690082
    Teal
    Participant

    @itooshallpass thank you!! I should have read the actual PCAOB instead of trying to find it in the book….

    FAR (66,68) Aug 26
    REG (66) July 25
    AUD (66) December 1st
    BEC - October 3rd

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