[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

[ljrpr]

@ ganudorm Like you i take audit on July 12th. Right now im reading notes and hammering out mcqs on the wiley test bank using the seen fewer than and answered incorrectly feature.

AUD-83
FAR-4/12/14
REG-5/30/14
BEC-TBA

[Mia]

@ganudorm make sure you keep memorizing stuff till test date. My failed AUD score was because I gave up reviewing a couple days before my test. Keep all the info fresh in your mind just for that one day.

BEC 82 Nov 2012 | REG 80 Feb 2013 | FAR 76!!! Apr 2013 | AUD 69 May 2013 | AUD 83!!! Aug 2013

Done!! Thanks Jeff & A71 friends!

Ad maiorem Dei gloriam - For the greater glory of God!

[Mia]

@10key good luck on you score and I hope I never see you here again (in a good way!).

Does anyone have any note-taking tips for AUD? It seems like it took me a long time to finish one chapter (about a week) taking detailed notes because, typically, my notes are like this:

Inherent limitations of an audit:

– Nature of reporting (judgment involved)

– Nature of audit procedures (management may not provide complete info, fraud concealed)

– Timeliness of reporting

– Cost/benefit balance

Unlike the other sections, AUD is soooo wordy.

BEC 82 Nov 2012 | REG 80 Feb 2013 | FAR 76!!! Apr 2013 | AUD 69 May 2013 | AUD 83!!! Aug 2013

Done!! Thanks Jeff & A71 friends!

Ad maiorem Dei gloriam - For the greater glory of God!

[Mia]

@ganudorm that would be great, but how? 🙂

Here's a game to play if you're bored: https://www.sporcle.com/games/fhollis/mr-dim-repports—clarity-audit-reports

BEC 82 Nov 2012 | REG 80 Feb 2013 | FAR 76!!! Apr 2013 | AUD 69 May 2013 | AUD 83!!! Aug 2013

Done!! Thanks Jeff & A71 friends!

Ad maiorem Dei gloriam - For the greater glory of God!

[jess3]

i've finally finished writing notes for becker..took me WAYYY too long. I def. need help focusing.. I read for 5 min and my mind goes somewhere else..

my target date is july 20, but I'm not sure if i'll EVER be ready to take the exam. I also have the wiley review book for extra MCQ practices but i just can't seem to get more than half right. it's really hard to get motivated to keep studying because of frustration and stress from taking summer classes (6 credit hours)!

sigh. i know a lot of people study while working/studying/taking care of family..etc. ANY help/tip on focusing, studying tips, and/or things to just keep me from having constant break downs?!

i hope everyone who took the exam did well!!!!

[smfrentz]

Here I am for the 3rd try. I decided to try a new study program with Wiley. My first time I was so close, but I wasn't sure when I left. The second time was miserable for me. I left the test SURE that I knocked it out of the park, only to find my score went DOWN over 10 points.

Devastation.

I read a post earlier today that said “F**k Calm, Get Angry” I am ANGRY. Failing this exam again will mean my bonus is cut in half, and it will put me at risk for losing my FAR credit that I doubt I could pass again. I am not sure I could handle that. I WILL NOT take that!

FAR - 83 (expires January 31, 2014)
BEC - 73, 80
AUD - 74, 62, 84
REG - 72, 73, 74 One more chance.

[Kenada]

Hello Jess,

I totally know how you feel. It is very hard to motivate your self and i too look at a question and stare at it for what seems like hours.

What I do is say okay, I have X amount of days for the exam, How many MCQs should i do per day and keep that as a target. So every one has different limits.. some can do 250 a day whilst me personally i manage like 90 a day and maybe weekend i get to 150 to 200.

My Goal is to do at least 2000 before exam day and also really practice on the SIM's since that is where i royally S$&% up. LOL why I don't know but my brain is like Oh My God its a SIM and it shuts down.

For motivation I look at this forum and see how everyone is doing when i take a break. It helps to know you are not alone and also if you are ok this question or area of topic is bothering me let me ask others. Maybe someone has a good forumla on how to make it stick.

I time the break to 5 -10 min limits where i shut my eyes and just go blank.

So hang in there. You are not alone. Only you can push your self to pass. keep Practicing and don't get disheartened. Its better to get them wrong now than on exam day. Learn why you are wrong so its enforced in your head 🙂

I am studying late today.. on my 3rd Coffee…. Zombie tomorrow 🙂

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

[jess3]

@insiyah24 thanks for the advice! i just feel like i'm not understanding/grasping the concept as quickly as others just because i keep dozing off/wondering off into space.. etc. lol wasting my time, to be exact. Hopefully setting up numbers of questions per day will help. :] good luck studying!

[Kenada]

Welcome Jesse.

Hello Ninja's

I am super crappy at this supplementary information section. Can't ever get this right and I need some help here.

This is what I think it should be but I may be confused.

1. Required Supplement info

You do not need to express an opinion on it.

If the RSI is not consistent with FS audited you still give unmodified Opinion but have an other matter pgh ?

1. Supplementary information as a whole.

You so express an opinion on it in the audit report.

You qualify audit report if the supplement info is not consistent with FS.

Have I got this right?

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

[Zaq]

Yes, to the first one. Required supplementary information being omitted falls under the Modified Unqualified Opinion reports.

What do you mean by “Supplementary Info as a whole”? As in, a special report that only gives an opinion on supplementary info? I don't think I'm very familiar with that phrase.

FAR: 50, 76!
REG: 74... (ouch baby, very ouch), 76!
AUD: 65, 91!?
BEC: 80! Aaaand doneskies!

May 2012 to August 2013. Can't believe it's over.

[Mia]

From what I understand, reporting on RSI is optional. But if any of these apply:

1 – auditor applied audit procedures to them

2 – auditor encounters problems with RSI (missing, omitted, departs from GAAP, etc…)

then an Other-matter paragraph is required to state any of those applicable conditions.

—-

Now if an auditor is ENGAGED to audit the RSI, it is permitted. This is a whole new engagement from what I read, to be called “Reporting on Supplementary Information in Relation to the Financial Statements as a Whole.”

Anyone care to confirm our understanding? I'm still a bit confused too

BEC 82 Nov 2012 | REG 80 Feb 2013 | FAR 76!!! Apr 2013 | AUD 69 May 2013 | AUD 83!!! Aug 2013

Done!! Thanks Jeff & A71 friends!

Ad maiorem Dei gloriam - For the greater glory of God!

[Mia]

I think Insiyah means Supplementary info in relation to the financial statements as a whole?

BEC 82 Nov 2012 | REG 80 Feb 2013 | FAR 76!!! Apr 2013 | AUD 69 May 2013 | AUD 83!!! Aug 2013

Done!! Thanks Jeff & A71 friends!

Ad maiorem Dei gloriam - For the greater glory of God!

[10keyLeah]

@insiyah24 – That is my understanding for RSI as well – you do not express an opinion, but for non issuers you add an explanatory paragraph that says RSI is included, omitted, partially there, etc.

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

[Kenada]

Oh Okay so lets see if now i get this right… was burning the mid night oil so i think my brains where Cuckoo Cuckoo

1. RSI – Required Supplementary Information

a, If it is consistent with FS then its a Standard Unmodified Report

b, If the information is not consistent then It is an Unmodified report with an Other matter paragraph after the Opinion.

2. SI – Supplementary Information

a, If it is consistent with FS then its a Standard Unmodified Report

b, If the information is not consistent then It is an Unmodified report with an Other matter paragraph after the Opinion.

3. SI put together by the Auditor OR Engaged to Audit the SI too.

a, This is where the Audit report will base the opinion on both FS and the SI. If consistent then unmodified standard report.

b, If not consistent then Auditor would qualify the opinion and the basis for opinion comes before the Opinion Pgh.

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

[Mia]

@insiyah I think that's right, thanks for the summary.

Question on Compilations and Reviews:

the text says that “the accountant may prepare the financial statements baed on information that is the representation of management.”

Does anyone know if that just applies to compilations and reviews? never for other engagements? Still, I think it's odd that they say that independence is a requirement for reviews (not needed for compilations) but then how, if the accountant is allowed to prepare the financial statements?

BEC 82 Nov 2012 | REG 80 Feb 2013 | FAR 76!!! Apr 2013 | AUD 69 May 2013 | AUD 83!!! Aug 2013

Done!! Thanks Jeff & A71 friends!

Ad maiorem Dei gloriam - For the greater glory of God!

[Author]

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