[jeff]

Recommended prep time for AUD is 4 weeks @ 20 hours a week.

Study Notes: https://www.another71.com/cpa-review-store/

Study Videos: https://www.another71.com/cpa-exam/cpa-exam-review-video/

[Ineedonly75]

sleeplessinWI – thank you very much. Your explaination is very clear. I found AUD particularly difficult since I do only TAX at work. I appreciate for anyone's tips and help in this forum.

Reg - Passed
FAR - Passed
BEC - Passed
Audit - 11/28

[phillyrocks87]

so what happened to AUD scores this wave? Isn't AUD usually 2nd on the releasing? I see BEC, FAR, and REG but no AUD 🙁

B: 11/09 55; 01/10 68; 8/10 54; 4/11 68; 8/11 PASSED
A: 07/10 74; 10/10 73; 5/11 65; 7/18 PASSED
R: 11/10 PASSED
F: 10/09 64; 05/10 73; 8/10 73; 1/11 PASSED

[jenbee9]

Sleepless in WI needs to get more sleep because it is exactly the opposite.

If IR and CR are high you have to work to get detection risk low. The equation is IR*CR*DR = Audit Risk. If the risk of material mistatement is high (IR*CR) you need to limit detection risk to control the total acceptable risk level. If IR and CR are assessed at the maximum (high), they can't be relied on, as a result you must do more substantive testing to bring total audit risk lower.

[Anonymous]

@jenbee9

i was reading that thinking, wait a minute, it's backwards

If IR and CR are high, detection risk is low and you need to do more work (because the odds of you detecting the problem right off are LOW).

3 days to goo…..

[jkiddisgarb]

nasba released aud today, via twitter

[Anonymous]

Hi everyone, I am kinda of new here. I just did my Audit exam on Nov 20th, 2010. I am not sure if I could actually pass it, since I only studied it for about 2 weeks.

I came from a University with Accounting degree background, but I did BEC twice already and both ended up with a 74, which really discouraged my feelings at the moment.

On my 2nd testlets of Auditing, there was a Audit IT question asking me something like this “What is the disadvantages for working around the computer and not using the client's computer”. Then again in my 3rd testlets, I got the same questions again, which asked me for the Advantages for the exact same question. So can I actually assume that my 3rd testlet is the same difficulty level as the 2nd one? Since they asked me the same level of questions on 2nd and 3rd testlets.

Many thx!~

[Anonymous]

Can someone please help me understand this?

” When the periods presented in comparative FS are either all compiled or all reviewed, a continuing accountant should UPDATE the report on the prior period and issue it as part of the current report.” from Becker book A2 pg 32

I don't get why should an auditor UPDATE prior period's report. I thought updating report has to do with a different opinion, but why updating when presenting comparative FS?

Thanks!

[AICPA – Monopoly]

When FS are shown comparatively, you're reporting on each year individually (which includes the prior year statements). You can actually give different opinions on the different years (an unqualified opinion on the current year and a qualified, adverse, etc. opinion on the prior year). Since you're reporting on the prior year statements, you need to update the opinion in order to make sure that it is still appropriate in the current year (there were no discoveries of errors during the current year's engagement, etc. that would change the prior year's opinion). Updating the prior year's opinion doesn't necessarily mean that the opinion will be changed. It is basically just making sure you do your due diligence.

FAR-97 AUD-98 BEC-95 REG-99
(IL-416)- I'm done!!!

[Anonymous]

Thank you Monopoly! That was very helpful!

[AICPA – Monopoly]

No problem- I'd much rather do this than study IT in BEC!

FAR-97 AUD-98 BEC-95 REG-99
(IL-416)- I'm done!!!

[Anonymous]

Attention everyone!

What is better: to practice many multiple choice questions or study from my notes?

thank you!

[Anonymous]

@cev

I found that doing as many mcq's as I could worked best for me. I use Becker and work all the required mcq's along with the supplemental mcq's they had for each chapter. In addition, I printed out the questions released by the AICPA for the AUD section and did those. I definitely saw some mcq's on the exam that were almost identical to the ones I saw in the Becker review. Hope that helps and good luck!

[jf4cpa]

I took audit in California on 10/18 and my score isn't released yet. I've taken the exam several times, and my scores have always posted the day after AICPA releases scores (I check the NASBA twitter page, then always see my score in my California CBA account the next morning). However, this is the first time when the score has not popped up. AICPA released 8,000 audit scores Monday, and my score still hasn't popped up, for which I now imagine my score will be released in Wave 2. Anyone else have a similar story? Anything to offer, Jeff?

[GreenCPA]

@Abe Thanks for the advice. I was also trying to decide how to devote my next few days of studying Auditing. I'm using Becker as well so it's nice to know I might come across some identical ones. Did you use Becker final review at all?

@Cev Good luck with your Auditing exam on Sunday. I'm taking my exam on Monday.

@jf4cpa Sorry I have nothing to offer. I'm from WI and we have to wait until all the scores are released before we see anything and usually it's a week after that. I took my FAR exam on 10/11 and when I called NASBA they said I should receive something be the end of December. 🙁

[CajunCPA]

I'm starting to realize that I should have gave myself more time to study for audit… I only gave my self 2 & 1/2 weeks. My test is Monday and needless to say, I'm starting to freak out. 🙁

REG - 78 Expired 11/24/11 - Oct/Nov 2013
FAR - Retake for the 5th time - Jan/Feb 2013
BEC - Retake for the 4th time - April/May 2013
AUD - Retake for the 3rd time - July/Aug 2013

[Author]

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