@mardybum13 public company audits – basically, the only non attest service you can perform are tax returns provided governance approves of the service. rules are more relaxed for non issuer audits. you can perform non attest services so long as you dont provide any management/decision making functions or process/authorize transactions for the client.
Thanks for the reply. So for non issuers, all of those would be okay. How about part g) ? My Beckerbook says collateralized automobile loan from a financial istit is fine.
@kenneth kang – so how have you approached the fact that the SIMS are way harder on the exam? I am in the same boat as you – AUD 74 – felt like I knew it – SIMS I was like Whaattt??!
It's a crapshoot really. I really don't know what you can do to prepare for the SIMS. I've had Roger, Becker, and Ninja McQ and all of them did great in helping me with McQs but failed in preparing me for the TBS. I don't even think the DRS are that bad, just time consuming. The ones that are hard are the ones that attack you with a particular topic a mile deep that these test preps barely gloss over so you don't think it's going to be a big deal, where I'm confident even an audit manager would have trouble with. I was literally able to find it in the AL and still couldn't answer what they were asking. Another one that is terrible are the ratio analysis ones with conflicting information that I have no idea how to answer and none of the test preps have in their TBS banks. I'm great at learning from my mistakes but I don't have the slightest clue on how to answer these. Like I said, it's really a crapshoot and all you can really do is hope that the one you're struggling with is the test TBS that doesn't count against your score.
@jivexturk3y – totally agree, I have Wiley and Roger – for this time around the only thing I can think to do more – is complete all TBS in those prep courses I do have ….
Hopefully someone can shed some light for me. I've taken Audit 4 times and have gotten a 73,74,74,73 :(. I was using Becker but my subscription just expired. I signed up to take it again at the end of May and want to give Ninja a try because I don't really want pay that much for Becker again. Does anyone have any suggestions on what to purchase? Should I get the 10 point combo? Just the MCQ? Any type of advice is greatly appreciated.
Also I live in Chicago if anyone wants to get a study group together.
^^ totally agreed. The best way to ensure you pass is to just keep studying. You'll never know the material completely, but the more you study, the better you will do!
FAR (66,68) Aug 26
REG (66) July 25
AUD (66) December 1st
BEC - October 3rd
also R_Court – the NINJAvideos have really helped me out! I would suggest the 10 point combo. Of course none of us really know with the new test, but it is pretty good, it helped me pass FAR after i struggled for a year with it, and then helped me with REG – I still got a 74, but much, much closer!!
FAR (66,68) Aug 26
REG (66) July 25
AUD (66) December 1st
BEC - October 3rd
@j4jque i got a 73. this time around i went and did ALL of the sims. made sure i got every one in wiley and ninja correct. made flash cards of the sims i had trouble on. hopefully this is sufficient.
Is anyone else having trouble with Ninja MCQ? Mine will not load and hasn't for several hours now. Getting very nervous about the problem as I am testing on Monday and took this week off work to do a crazy amount of MCQ….
Hey all!
Started this week for an exam May 30. I'm about halfway through A1 right now and feeling pretty good. Anyone that's taken the exam before – with regards to auditor's reports – which of the following is important:
1. Knowing the wording of the whole report
2. Being able to recognize the parts of the report based on rap em rap em and Mr Dim reports crime
3. Just knowing what's included and what's not based on opinion
Hi! I just took the exam yesterday. I would definitely say to know the required wording for the reportS. Like you don't need to know it Word for Word. And I don't think the rap em rap em or Mr.Dim stuff was helpful at all. Like for example. you want to know stuff like the required wording regarding going concern is “going concern ” not “going concern for one year” there are lots of questions like this in Becker. The only other thing I would say is know where stuff goes in the report. Like what is included in each paragraph. Like if you were going to report going concern, know what paragraph that should go in. Now that I've been through the whole thing, I wasted a lot of time in the beginning on the reports. If I were to do it again, I would spend limited time in chapter 1 going over the reports and just spend a day of my review going over them because after you get through everything it is much easier to understand. And there is a lot of information in chapters 2 through six that relates to the report so you really don't even cover it all in chapter 1. I'd suggest just get a basic understanding and move on. Then go back at the end.
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