[jeff]

AUD Resources:

Free AUD Notes & Audio – https://www.another71.com/cpa-exam-study-plan

AUD 10 Point Combo: https://www.another71.com/products-page/ten-point-combo

AUD Score Release: https://www.another71.com/cpa-exam-scores-results-release

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

[23K]

@ lsp2361

I think I have seen what you are talking about. I'm not really sure about that one either.

Would you happen to have example? I want to look into it also.

AUD--52,68,83, expired. Retake = 74 RETAKE - 7.24.26
FAR--73,70,68,75
BEC-- 79
REG-- 68,62,75

[23K]

@ lsp2361

I think I have seen what you are talking about. I'm not really sure about that one either.

Would you happen to have example? I want to look into it also.

AUD--52,68,83, expired. Retake = 74 RETAKE - 7.24.26
FAR--73,70,68,75
BEC-- 79
REG-- 68,62,75

[jeff]

2014 AUD Changes Video

https://www.another71.com/2014-cpa-exam-changes/

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

[jeff]

2014 AUD Changes Video

https://www.another71.com/2014-cpa-exam-changes/

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

[lsp2361]

@23k I don't have an example. I've tried googling it, but I can't find anything like it. Please let me know if you come across an example with explanations!

BEC 80
FAR 86
REG 80
AUD 73, 68, 72, 90!!

DONE!!!

[lsp2361]

@23k I don't have an example. I've tried googling it, but I can't find anything like it. Please let me know if you come across an example with explanations!

BEC 80
FAR 86
REG 80
AUD 73, 68, 72, 90!!

DONE!!!

[G3]

Thanks, Jeff. You covered a couple things I overlooked in my notes 🙂

BTW, you said not to study 2013 AUD material but would the MCQs and SIMs in the 2013 Wiley textbook be too outdated to study?

3XBEC:75 * 4XREG:82 * 4XFAR:76 * 7XAUD:77

“It is hard to fail, but it is worse never to have tried to succeed.” Theodore Roosevelt

[G3]

Thanks, Jeff. You covered a couple things I overlooked in my notes 🙂

BTW, you said not to study 2013 AUD material but would the MCQs and SIMs in the 2013 Wiley textbook be too outdated to study?

3XBEC:75 * 4XREG:82 * 4XFAR:76 * 7XAUD:77

“It is hard to fail, but it is worse never to have tried to succeed.” Theodore Roosevelt

[jeff]

I wouldn't – there's extant stuff in there and you'll waste time weeding through it.

A new book isn't that expensive I don't think…of course, it's your $$ not mine 🙂

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

[jeff]

I wouldn't – there's extant stuff in there and you'll waste time weeding through it.

A new book isn't that expensive I don't think…of course, it's your $$ not mine 🙂

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

[Misu243]

@lsp…I know exactly the question you're trying to ask. Here's what I think about what affects inherent risk. Events that are rapid changes in how an entity/company/org is doing business would affect the inherent risk. Of course you'd have to read any questions carefully and analyze what dates are involved with these events, what year the audit is for, and the exact situation to determine whether the inherent risk would decrease or increase. When there's a situation that requires additional testing or involvement of more personnel to do tests, you automatically know that they're talking specifically about the audit, therefore detection risk is the one that will change and nothing will happen to the inherent and control risk as they exist independent of the audit. My way of thinking about inherent risk changes is to focus on the Control Environment portion of Internal Control. Maybe studying through this might help you out in figuring out this puzzle.

BEC: 66, 74, 80* (Expired), 73, 76*
FAR: 66, 72, 67, TBA
REG: 68, 72, 74, 70, 79*
AUD: 43, 71, 77* (Expired), 71, TBA

[Misu243]

@lsp…I know exactly the question you're trying to ask. Here's what I think about what affects inherent risk. Events that are rapid changes in how an entity/company/org is doing business would affect the inherent risk. Of course you'd have to read any questions carefully and analyze what dates are involved with these events, what year the audit is for, and the exact situation to determine whether the inherent risk would decrease or increase. When there's a situation that requires additional testing or involvement of more personnel to do tests, you automatically know that they're talking specifically about the audit, therefore detection risk is the one that will change and nothing will happen to the inherent and control risk as they exist independent of the audit. My way of thinking about inherent risk changes is to focus on the Control Environment portion of Internal Control. Maybe studying through this might help you out in figuring out this puzzle.

BEC: 66, 74, 80* (Expired), 73, 76*
FAR: 66, 72, 67, TBA
REG: 68, 72, 74, 70, 79*
AUD: 43, 71, 77* (Expired), 71, TBA

[G3]

Jeff, I do not have the funds currently and my exam is in a fortnight 🙁

I purchased the WTB last September and did ALL of the AUD MCQs and SIMs available (going over them multiple times leads to memorization for me)

So, since WTB has not updated, I will rewrite the piles of AUD notes I have and review the SIMs solutions I printed out.

Any other study suggestions would be greatly appreciated 🙂

One more question: does the modified opinion replace both the adverse and disclaimer opinion?

According to p. 64

“Material Issues – Modified Opinion…Very Material Issues – Adverse Opinion”

However, according to p. 59 “MODIFIED OPINION (Adverse/Disclaimer)”

Has the report format which was separate for qualified, adverse, and disclaimer has all been rolled into an unmodified report format with different opinions (unmodified, adverse, disclaimer) based on materiality?

Thanks for clearing up the confusion 🙂

3XBEC:75 * 4XREG:82 * 4XFAR:76 * 7XAUD:77

“It is hard to fail, but it is worse never to have tried to succeed.” Theodore Roosevelt

[G3]

Jeff, I do not have the funds currently and my exam is in a fortnight 🙁

I purchased the WTB last September and did ALL of the AUD MCQs and SIMs available (going over them multiple times leads to memorization for me)

So, since WTB has not updated, I will rewrite the piles of AUD notes I have and review the SIMs solutions I printed out.

Any other study suggestions would be greatly appreciated 🙂

One more question: does the modified opinion replace both the adverse and disclaimer opinion?

According to p. 64

“Material Issues – Modified Opinion…Very Material Issues – Adverse Opinion”

However, according to p. 59 “MODIFIED OPINION (Adverse/Disclaimer)”

Has the report format which was separate for qualified, adverse, and disclaimer has all been rolled into an unmodified report format with different opinions (unmodified, adverse, disclaimer) based on materiality?

Thanks for clearing up the confusion 🙂

3XBEC:75 * 4XREG:82 * 4XFAR:76 * 7XAUD:77

“It is hard to fail, but it is worse never to have tried to succeed.” Theodore Roosevelt

[jeff]

Page 64 is misleading in retrospect – Adverse is a form of a Modified Opinion

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

[Author]

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