[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

[keaguek]

Thanks @mysticalguy.

And any follow up to JE questions, have not really seen anything involving je's from becker or am i wrong?

Also, can anyone clarify reporting on compliance any further?

Sometimes i mix up answers and feel like they contradict one another when I look at it but prob. because there are dif. types of compliance to report on.

Any Clarification would be very helpful?

Audit- 91 Feb 2014

FAR- 78 5/14

BEC- 82 7/14

REG- 2/15, 70
retest 4/15

[keaguek]

Thanks @mysticalguy.

And any follow up to JE questions, have not really seen anything involving je's from becker or am i wrong?

Also, can anyone clarify reporting on compliance any further?

Sometimes i mix up answers and feel like they contradict one another when I look at it but prob. because there are dif. types of compliance to report on.

Any Clarification would be very helpful?

Audit- 91 Feb 2014

FAR- 78 5/14

BEC- 82 7/14

REG- 2/15, 70
retest 4/15

[keaguek]

Also, in anyones past experience with the audit exam. Has anyone actually seen questions regarding the various financial ratios? For some reason i've kind of ignored them because I feel they wont be on the exam, not that it would be that hard to gover and still have over a week to review them, but has anyone seen actual questions on this in the exam?

Audit- 91 Feb 2014

FAR- 78 5/14

BEC- 82 7/14

REG- 2/15, 70
retest 4/15

[keaguek]

Also, in anyones past experience with the audit exam. Has anyone actually seen questions regarding the various financial ratios? For some reason i've kind of ignored them because I feel they wont be on the exam, not that it would be that hard to gover and still have over a week to review them, but has anyone seen actual questions on this in the exam?

Audit- 91 Feb 2014

FAR- 78 5/14

BEC- 82 7/14

REG- 2/15, 70
retest 4/15

[snuff_is_enough]

Hello,

with regard to becker audit sims, should I always look for a clarified AU-C before a regular AU? I keep getting questions wrong where I put a PERFECT AU paragraph as my answer, and the answer turns out to be a similar AU-C paragraph. I even did one where the wording was identical in an AU as an AU-C, but becker told me it should've been the AU-C.

Also, are there going to be multiple accepted answers on the actual exam? Thanks and sorry if my post doesn't follow standard procedure around here, I'm fuming over my performance on all of the research sims that I answer so confidently, and posted this before reading any FAQs.

[snuff_is_enough]

Hello,

with regard to becker audit sims, should I always look for a clarified AU-C before a regular AU? I keep getting questions wrong where I put a PERFECT AU paragraph as my answer, and the answer turns out to be a similar AU-C paragraph. I even did one where the wording was identical in an AU as an AU-C, but becker told me it should've been the AU-C.

Also, are there going to be multiple accepted answers on the actual exam? Thanks and sorry if my post doesn't follow standard procedure around here, I'm fuming over my performance on all of the research sims that I answer so confidently, and posted this before reading any FAQs.

[mystical guy]

@ snuff_is_enough, in the actual exam there won't be any confusion. They find questions that have one single solution. The trick is that, there almost always other solutions that come close, but they're not perfect. Anyhow, as a hypothetical, being careful not to disclose, you could get a SIM that asks you what an auditor should do if the client management were away from the client facilities by the time they are required to sign the management rep. letter. As funny as it sounds, yes, there are two solutions to this, but one is the most accurate one will have the wording from the question. The other “solution” won't cut it. I do always wonder if they give partial credit.

CPA - Since 2015
CISA - Smashed 2012
CIA - Passed 2015

[mystical guy]

@ snuff_is_enough, in the actual exam there won't be any confusion. They find questions that have one single solution. The trick is that, there almost always other solutions that come close, but they're not perfect. Anyhow, as a hypothetical, being careful not to disclose, you could get a SIM that asks you what an auditor should do if the client management were away from the client facilities by the time they are required to sign the management rep. letter. As funny as it sounds, yes, there are two solutions to this, but one is the most accurate one will have the wording from the question. The other “solution” won't cut it. I do always wonder if they give partial credit.

CPA - Since 2015
CISA - Smashed 2012
CIA - Passed 2015

[jackaroe]

Risk Assessment Question:

What does it mean that management has taken an “agressive attitude” towards reporting? Wiley writes “The risk of material misstatement INCREASES as it appears that management has taken an aggressive attitude toward the reporting this transaction”. In the particular question – a company guarantees that it would repay its debts in a prompt manner. I can understand the promise to pay back would increase the risk – but what does an ‘aggressive attitude' towards reporting contribute in itself as bringing anything that would increase the risk?

[jackaroe]

Risk Assessment Question:

What does it mean that management has taken an “agressive attitude” towards reporting? Wiley writes “The risk of material misstatement INCREASES as it appears that management has taken an aggressive attitude toward the reporting this transaction”. In the particular question – a company guarantees that it would repay its debts in a prompt manner. I can understand the promise to pay back would increase the risk – but what does an ‘aggressive attitude' towards reporting contribute in itself as bringing anything that would increase the risk?

[mystical guy]

@jackaroe, If you consider the “fraud triangle”, anything that puts management under pressure to create earnings is what would fall under the “pressures” within the fraud triangle. In other words, anything that puts management under the pressure to create value might cause them to skirt accounting rules which would thus increase the risk of material misstatement.

CPA - Since 2015
CISA - Smashed 2012
CIA - Passed 2015

[mystical guy]

@jackaroe, If you consider the “fraud triangle”, anything that puts management under pressure to create earnings is what would fall under the “pressures” within the fraud triangle. In other words, anything that puts management under the pressure to create value might cause them to skirt accounting rules which would thus increase the risk of material misstatement.

CPA - Since 2015
CISA - Smashed 2012
CIA - Passed 2015

[studylongUstudywrong]

Having a hard time staying off social media? Deactivate

Licensed Texas CPA

[studylongUstudywrong]

Having a hard time staying off social media? Deactivate

Licensed Texas CPA

[mystical guy]

@studylongUstudywrong in my journey I got rid of internet and TV all together. I don't know if I needed to but it helped.

CPA - Since 2015
CISA - Smashed 2012
CIA - Passed 2015

[Author]

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