[jeff]

NINJA Study Notes, Flashcards, and Audio: https://www.another71.com/products-page/

Wiley Software: https://www.another71.com/wiley-cpa-software/

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[yankeeaccountant]

@RedRage,canson16, and firsttime

Thanks so much guys!!! I am hoping and praying all the planets were in line today—I need a passing score baby!! Scratch that….we ALL need passing scores. I sure hope we can all be celebrating on the forum in early February.

@hopeful_cpa

ok, I seem to be stalking you from thread to thread. LOL!! Go get it tomorrow, you got this 🙂

[Anonymous]

hey yankee I hope you passed, from your tone , it sounds like you did good.

I have a feeling you gonna get it this time.

[yankeeaccountant]

@bkkguru,

You are so sweet. Thanks. I hope I get good news. I wish I felt “good” about the sims. When are you sitting? My brain is fried….can't remember anything!!

[hopeful_cpa]

yankee, we are forum stalkers lol… i hope you did well today, god willing we will get through this!!

BEC: Done
REG: Done
AUD: Done
FAR: Done

I'M DONE!!!!!! AAAAAAAAAAAAAAAAAAAAAAHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[Anonymous]

@Yankee, thanks! ya making me blush lol

but , I just registered online now today and waiting for my nts, and I will most likely sit for it as soon as I get my nts.

I just want to get it out of the way already

[yankeeaccountant]

@bkkguru

Get in there while the iron is hot–totally agree. I hope the process is quick. GL!

[IamBlessed]

I will began studying for AUD on Monday any advice from those currently studying?

[Peanut]

@IamBlessed– My advice relates to how I personally study. I will say, I am having much much better luck understanding the concepts by reading the book and going through flash cards–than taking notes. I took notes the first time studying for AUD, did minimal reading and it seemed to back fire. Although, the note taking approach was key studying for REG.

AUD 81 (X4) Previous scores 59, 72, 72
REG 80 (X3) Previous scores 59, 60
FAR 75 (X2) Previous score 67
BEC 79 (X2) Previous score 58

[Anonymous]

@yankee, I got my nts today and scheduled it for this monday .

I read some comments about the sims being stupid again, and now its making me a bit anxious again.

But I think I'm gonna do good this time! lets do it.

[yankeeaccountant]

@bkkguru

Awesome…..that is great that you could get in so quickly. Don't get nervy about the sims. Everybody's experience is so subjective to how they studied, what they are comfortable with, their feelings on how hard/how easy a sim is. For me, I have alot of experience doing compilations and analyzing financial statements, so FAR and BEC seem to speak to me, Audit and Tax are so far from what I have done, it is like Swahili.I would much rather get a sim on journal entries……so a sim on inherent/control risk for example, would be harder for me to apply even though I studied. I hope I made sense…and I hope I didn't make the situation worse :p

All you need to do is go in there Monday and kick some Audit @ss!!! I agree with you, this time is the PASS!!!! I am pulling for you!!

[hopeful_cpa]

Inherent/control/detection risk sims make no sense to me!!!!

BEC: Done
REG: Done
AUD: Done
FAR: Done

I'M DONE!!!!!! AAAAAAAAAAAAAAAAAAAAAAHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[Anonymous]

sweet!! thx Yankee for the encouraging words , that means alot.

best of luck to you as well and e1 else.

[IamBlessed]

@ Peanut — so you dont watch any lectures? i dont have flashcards so i guess i'll be trying to order some from Ebay … thanks

[Peanut]

@IamBlessed, yes I do watch the lectures. I watch the lectures, then read the chapter and do the corresponding MCQ. I just didn't take notes during the lectures like I did with FAR & REG. Now that I'm finished with the lectures I'm sticking to reading the chapters over and doing tons of MCQ

AUD 81 (X4) Previous scores 59, 72, 72
REG 80 (X3) Previous scores 59, 60
FAR 75 (X2) Previous score 67
BEC 79 (X2) Previous score 58

[seva]

<Posted this as a separate thread but maybe I will get faster answers as this is such an active thread! TIA>

Hey Everyone!

I've been a regular lurker of this website since last April and finally got around to creating an account. I am preparing for the Audit exam the third time now and have finally decided to put my heart into this a 100%. I absolutely hated audit, but I think I am finally starting to grasp it. I have a few questions and I would really appreciate your help in answering them. This is such a supportive community. Thank you in advance!

1. So apparently, independence of an Auditor is considered to be impaired if the auditor is a “distributor” of the client's products. [Audit- Wiley 2011- Pg 58- Interpretation 101-12 (1)]. My question is would a <b>recommendation<b> of a client's product to a third party, and that third party subsequently purchases it (1) from the auditor (2) directly from the client also impair independence?

2. Apparently Non-Audit services (Review, Compilation, Examination) of a private entity is governed by the SSARS. My question is what standards govern the <b>non-audit<b> services of a public entity? I understand that the audit services of a public entity are governed by SAS, PCAOB standards, but I did not come across Review, Compilation standards for public entity anywhere…

3. The Code of Professional Conduct applies to all AICPA members, whether they are in public practice or private. But I was wondering if there are any “rules” for Non-AICPA members? I know its possible to practice without being a member, but just wondering how they are regulated…

4. Also, according to Wiley Pg 55, first bullet point (c), a covered member cannot provide more than 10 hours of non-attest services. This implies that providing 10 hours of non-attest services are okay right? Does that mean it would be okay to provide consulting services or actuarial services of 9.5 hours? My main concern here is wouldn't the work that you provided, even just for 9.5, be under threat of self-review? Is that concern minor/ not practical in the real world?

Some of these may be silly questions, but I was stumped and kept wondering about it. Thank you!

[Author]

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