[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

[Kenada]

Oh for the Wiley HW book, since i work full time I aim to get it done in 5 evenings and perhaps a full day – Sat. The rest of the time i will do the test banks until i sit the exam.

FAR 05/27/14; 786/110 - Done !

[Anonymous]

Anyone know whether the Reporting on Internal Control changed for the Clarified Project?

Or just the Reporting on F/S changed?

[Anonymous]

This is one of the Becker sims:

While preparing the auditor's report, the audit assistant believes that the auditor's report can never reference the findings of a specialist. The audit manager disagrees. Which citation in the professional standards supports the audit manager's position?

The correct answer is AU-C 620.14

Does anyone know why it isn't AU-C 620.15? AU-C 620.14 only says do not refer to the specialist in an unmodified opinion. It mentions nothing about the possibility of mentioning a specialist

[DeniseFutureCPA]

@ insiyah, it's not “sad,” it's “Dedicated and ready to kick @ss!” 🙂

@ Dark, I just compeleted the Internal Control chapter yesterday, I did not see the Clarity updates affecting I/C to my knowledge……

@ biorenb….Hmm, I too get stumped by these AL q's sometimes…. I'm going to see what I can find out.

Have a great day everyone!!! Let's beat this!!!

"Do not give up when you still have something to give... Nothing is really over until the moment you stop trying."

Why I am studying for the CPA exam: First it was business...now it's personal!!!!! 🙂

[10keyLeah]

@ljrpr – Going through the MCQ in the book may be helpful if you feel you've already memorized the online MCQ's. I go through online MCQ twice, some I remember and some I do not. It's good review for me, but you may learn differently than others.

@insiyah24 – thanks for posting those Roger videos. I've found I can usually find helpful info through youtube videos especially if I have trouble with a particular topic.

AUD and then BEC at the end of August means I won't have much of a summer ugh!

Ninja Combo, Yaeger, Wiley -- Licensed CPA, May 2015

[Anonymous]

@denise: thanks, I looked at some materials from AICPA and it doenst have any change in I/C 😀

[Kenada]

Hello Dark

So far the clarity project has changed the Auditors report on FS. Not seen any changes on Internal control.

Hello 10key

Love the positive thinking. Not going have a summer either. Lol.

Hello Biorenb

At times those research questions are demented. I sort of feel as long as I get most of it right at least i can get part marks

By the way has anyone seen Wiley update the SIM authoritative literature. I still don't see mine updated with new clarity standards.

FAR 05/27/14; 786/110 - Done !

[Kenada]

Hello Dark

So far the clarity project has changed the Auditors report on FS. Not seen any changes on Internal control.

Hello 10key

Love the positive thinking. Not going have a summer either. Lol.

Hello Biorenb

At times those research questions are demented. I sort of feel as long as I get most of it right at least i can get part marks

By the way has anyone seen Wiley update the SIM authoritative literature. I still don't see mine updated with new clarity standards.

FAR 05/27/14; 786/110 - Done !

[VanessCA]

I got the 10 point combo. In advance I apologize for the silly question I am about to ask, but how do I view the ninja flashcards? I got the link in an email. When I go to the link, the flashcards are not in a zipped file. So I do not have to unzip. Help please

[VanessCA]

I think I figured it out.

[tffarkbocaj]

Shot out to those joining me in another late night studying for AUD. I'm planning to go through all the material and leave myself a week to review and do review questions 'til my eyes bleed. Sound good?

"No human being is beyond redemption"

FAR - 66, 79
AUD - 82
REG - 81
BEC - Scheduled 4/14

[Kenada]

For Sure tffarkbocaj 🙂

FAR 05/27/14; 786/110 - Done !

[Kenada]

Hiya,

Has anyone from the California received notification from the Board to select exam sections??

Its taking really long for me to hear back from them. Keep checking the website but no change. Getting to be a bit annoying now since I really am not sure where I will get to sit AUD with so limited appointments available with Pro-metric in the Bay area 🙁

FAR 05/27/14; 786/110 - Done !

[Ntw6817]

Can someone explain to me the difference between analytical procedures and substanitive procedures?

[Kenada]

Hello NTW6817,

Analytical procedures are required for the planning phase and the final review of the audit. These procedures are more broad to help the Auditor look for irregularities in the Financial Statement. So basically here you are doing things like Ratios between Prior Year and Current Year, Inventory turnover ratio or Return on Investment ratios. They just give you a “general” feel for the financial statements.

Substantive testing is the detail testing of transactions that is done during the work of the audit Fieldwork – This involves involves sampling to gather evidence for the auditor's opinion – based upon the assertions.

NOTE

Analytical procedures can also compliment this phase; however, it's not required. IE It also can be used during Test of Controls. I remember from Rogers the Mnemonic aid I_CORRII_A is where you test your ARCC

Inquiry

Confirmation

Observation

Recalculation

Reperformance

Inspection of Assets

Inspection of Documents

Analytical Procedures

FAR 05/27/14; 786/110 - Done !

[Author]

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