[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

[ganudorm]

@scestone – that wouldn't be a modification to the report because that statement is STANDARD to the unmodified report. You always state that internal control was considered but not for purposes of expressing opinion on effectiveness. It is an explicit statement but wouldn't be considered a modification in my opinion if the statement is standard.

[JRyan154]

When expressing an qualified or adverse opinion due to consistency issues, GAAP – non-GAAP change is always mentioned. Is it ever not acceptable to change from one GAAP principle to another GAAP principle? If it's not in some cases, would you ever issue a qualified or adverse opinion?

AUD: 78
BEC: 81
FAR: 72 (TBD)
REG: TBD (2/14/14) <3

[JRyan154]

When expressing an qualified or adverse opinion due to consistency issues, GAAP – non-GAAP change is always mentioned. Is it ever not acceptable to change from one GAAP principle to another GAAP principle? If it's not in some cases, would you ever issue a qualified or adverse opinion?

AUD: 78
BEC: 81
FAR: 72 (TBD)
REG: TBD (2/14/14) <3

[scestone]

@amordiva Thanks a lot! I've always loved financial accounting. I think that question is kind of out there, I wouldn't worry about it. Just remember that individual case if anything.

Took audit today I would say that Becker thoroughly prepared me for the MC. A lot of similar questions almost verbatim. But still a few curve balls of course. I think the hardest part was the Sims for sure. Let the wait begin!

REG - 95
FAR - 96
BEC - 92
AUD - 99

[scestone]

@amordiva Thanks a lot! I've always loved financial accounting. I think that question is kind of out there, I wouldn't worry about it. Just remember that individual case if anything.

Took audit today I would say that Becker thoroughly prepared me for the MC. A lot of similar questions almost verbatim. But still a few curve balls of course. I think the hardest part was the Sims for sure. Let the wait begin!

REG - 95
FAR - 96
BEC - 92
AUD - 99

[Ikile]

My study material asks this question but then answers a different one (apparently they updated Qs but not the answers or vice versa). Anyways, I need help with figuring this out:

What is the impact and on which component of audit risk if a company in yr 2 centralizes authority for changes in acct software programs by placing sole responsibility for such changes with the programmer who makes the changes, thus replacing a system in which an individual other than the programmer reviews such changes.

[Ikile]

My study material asks this question but then answers a different one (apparently they updated Qs but not the answers or vice versa). Anyways, I need help with figuring this out:

What is the impact and on which component of audit risk if a company in yr 2 centralizes authority for changes in acct software programs by placing sole responsibility for such changes with the programmer who makes the changes, thus replacing a system in which an individual other than the programmer reviews such changes.

[Kenada]

Hello Ikile,

I didn't quite understand your question.

Are you asking which Component of Audit Risk is affect if persons other than the programmer is able to make changes to the Accounting software ?

If that is so, then you have to consider this would be a control Risk. Generally for Internal Control to be effective you need to have segregation of Duties between who has Custody of the asset, who Records information, who does the comparisons and who has Authorizations.

The programmer should have the ability of the accounting software changes but should not be able to do Data Entry.

The operators should have the ability to do data entry (recording) but should have no access to make any changes to the accounting software.

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

[Kenada]

Hello Ikile,

I didn't quite understand your question.

Are you asking which Component of Audit Risk is affect if persons other than the programmer is able to make changes to the Accounting software ?

If that is so, then you have to consider this would be a control Risk. Generally for Internal Control to be effective you need to have segregation of Duties between who has Custody of the asset, who Records information, who does the comparisons and who has Authorizations.

The programmer should have the ability of the accounting software changes but should not be able to do Data Entry.

The operators should have the ability to do data entry (recording) but should have no access to make any changes to the accounting software.

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

[Ikile]

Hi insiyah24,

I think you are right; I think control risk increases since no one is going behind this guy to check what he did

[Ikile]

Hi insiyah24,

I think you are right; I think control risk increases since no one is going behind this guy to check what he did

[Ikile]

Insiyah24,

when are you taking your exam?

[Ikile]

Insiyah24,

when are you taking your exam?

[Kenada]

I am taking it July 15th 🙂 I am working on as many questions and praying really hard!

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

[Kenada]

I am taking it July 15th 🙂 I am working on as many questions and praying really hard!

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

[Author]

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