AUD – Exam Prep - Page 115

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  • August 26, 2012 at 6:43 pm #374632
    Anonymous
    Inactive

    I've noticed several people on here reference to watching videos? Which ones are you talking about? Becker, etc.?

    Where can I find these?

    I'm using NINJA Audio, NINJA Notes, and Wiley Test Bank.

    August 26, 2012 at 6:54 pm #374633
    TripleNetAcct
    Member

    Poor Internal Controls = Inc CR = Dec DR = More Subs Testing

    Strong Internal Controls = Dec CR = Inc DR = Less Subs Testing

    IR increase = CR no change = DR decrease

    IR no change = CR Increase = DR Decrease

    AR Increase = IR no change = CR no change = DR Increase

    AR Decrease = IR no change = CR no change = DR Decrease

    AUD 73 (Aug 12) 77
    BEC 66 71 (Nov 12) 80
    REG 54 81 (May 13) 81
    FAR 63 (Dec 13) 75 TEXAS

    August 26, 2012 at 8:54 pm #374634
    Anonymous
    Inactive

    @TripleNetAcct:

    I really appreciate your help. I just failed first Auditing exam because of this concept. I had 4 simulations on the same concept and i messed up all four. Thank you so much. One more thing can you please explain How to assess control risk and audit risk. What factors could affect this two risks?

    August 28, 2012 at 2:18 pm #374635
    TripleNetAcct
    Member

    I had the same issues the first time around. The only way I know how to answer those types of questions is to conceptually understand which risk the question is asking about.

    Would the situation affect a risk that the auditor will not detect a misstatement?

    Would the situation affect a risk that Internal Controls will not detect a misstatement?

    Would the situation affect an inherent risk that exists regardless of how strong internal controls are or what procedures the auditor performs?

    That is how I worked through these problems…I do not know if this generalized approach is appropriate but it is how I was able to rationalize it to myself. I would strongly suggest spending $10 for CPAreviewforfree.com's AUD simulation package. It is $10 and it does a really great job of testing your knowledge of the vital topics. Work through them without using Authoritative Literature and see how well you know the material.

    Good Luck!!!

    AUD 73 (Aug 12) 77
    BEC 66 71 (Nov 12) 80
    REG 54 81 (May 13) 81
    FAR 63 (Dec 13) 75 TEXAS

    August 28, 2012 at 4:40 pm #374636
    Anonymous
    Inactive

    @ TripleNetAcct did you find that the sims on cpareviewforfree were similar to the ones on the test?

    August 28, 2012 at 5:05 pm #374637
    TripleNetAcct
    Member

    Similar conceptually but the actual exam sims tests your knowledge by applying the concepts to more difficult situations to see how well you rationalize the material. The sims in CPAreviewforfree.com are relatively simple and straight forward but give you a great base for answering sims on the actual exam.

    AUD 73 (Aug 12) 77
    BEC 66 71 (Nov 12) 80
    REG 54 81 (May 13) 81
    FAR 63 (Dec 13) 75 TEXAS

    August 29, 2012 at 1:38 am #374638
    Anonymous
    Inactive

    @TripleNetAcct: Thank you so much for the explanation. And how was u r experience 2nd time. The sims were similar to the last time or the whole different thing?

    Aud- 60 (Simulations were brutal), October-2012

    Regulation- November 2012

    Financial- January 2013

    BEC- February 2013

    September 1, 2012 at 10:46 pm #374639
    Whatdidyou
    Member

    Hey everyone,

    About to start studying for AUD tomorrow. I've already finished with the other 3 and am wondering how this one compared.

    How did this one compare to the other ones for you all?

    Should I study this one with the same fervor I tackled FAR & REG, or can I slack off just a little bit (like i did with BEC)?

    I've heard that AUD can be tricky as hell. Any tips/advice?

    Thanks!

    REG - Passed!!
    BEC - Passed
    FAR - Passed
    AUD - Passed

    Study Materials: Becker basic course

    September 5, 2012 at 4:57 pm #374640
    Shay
    Member

    How to Study for AUD? I liked REG, because it involved numbers etc..But AUD is BORING. I just started reading A1 with Becker 2012 ed.

    which chapters should I focus on most?

    September 5, 2012 at 6:45 pm #374641
    Anonymous
    Inactive

    @Whatdidyoudo & Shay: i took auditing around a month ago..Try to focus on Ch-3 & Ch-4 in Becker and understand the concept. They asked me 4 simulations on the same topic and i messed up all because i didn't understand the concept. Also, try to understand when each of risk(example:audit risk,inherent risk,etc.) affects, that means try to create some situation and ask yourself question when this risk increase, decrease? From my point of view, that is the most important topic. Good Luck.

    Aud- 60 (Simulations were brutal), October-2012

    Regulation- November 2012

    Financial- January 2013

    BEC- February 2013

    September 6, 2012 at 2:47 am #374642
    Shay
    Member

    @dhruv999 thanks. Sorry to hear you have repeat 🙁

    September 7, 2012 at 2:15 pm #374643
    redox1100
    Participant

    Question for Becker Students: Right now I’m learning the IAMCPA acronym (steps of assessing risk of material misstatement {end of chapter 3}). I feel as though Becker is doing a horrible job establishing a chronological order to the Audit. So my question to Becker students is, will I grasp the order in later chapters or am I totally missing the boat? This reason I am nervous is because I keep getting questions that preface “In the planning stage….” and Becker isn’t really establishing when the planning stage begins and ends and THIS STAGE in my learning process. Input would be greatly appreciated

    September 10, 2012 at 7:29 pm #374644
    Tom
    Member

    Question for anyone that has passed but still looks at this forum.

    I have taken audit twice now. The first time I received a 60 but I was completely beaten after the first testlet and a half, just re-took it and received a 72. I used Yaeger both times and I have the CRAM but i never had a chance to use it.

    My question is what would you advise sticking with yaeger for another round and use the CRAM too, or use a different course? Also if you suggest to use a different course, which one would you recommend.

    FAR - 79
    BEC - 78
    REG - 80
    AUD - 60,72,74,70

    September 10, 2012 at 7:33 pm #374645
    Anonymous
    Inactive

    Does anybody have any suggestions on how to study for AUD the second time around? I took it for the first time 8/30/12 using Becker self-study, studied for 4.5 weeks, and got a 69. I studied the same way as I did for FAR and REG which I passed. Since I just took it I feel like I shouldn't spend my time watching the lectures again and that I should focus on learning what I am doing wrong on the homework questions and SIMs and probably read through the lectures. Any suggestions?

    September 10, 2012 at 9:59 pm #374646
    M
    Member

    Same question as above. how do i tackle AUD again. i'm schedualing it on Fri Oct 5th.

    i'm using Becker. should i do all the video's again? or focus on MC's and SIMS. i also have wiley test bank which i never got around to the 1st time around.

    i dont know where to start. 🙁

    “If you dont have time to do it right, when will you have time to do it over?"
    FAR - 64, 81... exp 11/30/13
    AUD - 54, 67 Retake Jan
    BEC - Feb 28th
    REG - TBD

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