[jeff]

Free Study Planner, Notes, Audio, Flashcards: https://www.another71.com/cpa-exam-study-plan/

Free CPA Exam Survival Guide: https://www.another71.com/cpa-exam-survival-guide/

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

[Pumpkins]

Ok guys,

I've made a spreadsheet of the numbers of multiple choice and simulations I've done from my different sources.(Loser is officially stamped on my forehead)

All in all- 1678 MCQs and 192 Simulations (a few of each were probably repeats)

Two weeks out, so I'm mainly focusing now on getting those numbers up in my weak areas.

I skipped the chapter on Sampling- like the mean per unit and all that- I wonder if this will be tested much on the exam?

AUD- 93
BEC- 81
FAR- 1/26/2015
REG- TBD

CIA Exams Passed in March, 2014

[NYCaccountant]

Sampling is a pretty light chapter. Might as well study it. I'm using Wiley, and I'm going to focus on memorizing concepts for sampling and IT. Definitely. I got about 4 full weeks to finish this up.

FAR - 93
REG - 87
BEC - 84!!!!
AUD - 99!!!!!! CPA exam complete.

[Anonymous]

@NYCaccountant and @Pumpkins. Thank you! I also do believe the inherent risk will increase. Now this is the part that gets me every time – Because inherent risk will increase, will detection risk decrease?

Also, I would say no impact to control risk in this situation.

[Pumpkins]

Sounds like you'll be in good shape!

I'll probably read the sampling chapter one day this week… I'd kick myself if I got a few questions on the exam and didn't study it lol

AUD- 93
BEC- 81
FAR- 1/26/2015
REG- TBD

CIA Exams Passed in March, 2014

[Pumpkins]

@Arushi

The increase in Inherent risk alone will not effect the detection risk. Detection risk is controlled by auditor based on the extent of testing the auditor chooses to do, and inherent risk is independent of audit procedures.

The auditor may choose to decrease the detection risk by doing more testing if they realize the inherent risk has increased- to offset the effect on the overall audit risk.

Refer back to the formulas:

RMM= CR X IR

AR= RMM X DR

AUD- 93
BEC- 81
FAR- 1/26/2015
REG- TBD

CIA Exams Passed in March, 2014

[Anonymous]

@Pumpkins. Thank you for your explanation.

I guess you really have to read the question and figure out if they are asking you (an auditor) to increase/decrease the detection risk OR asking whether a certain situation has an direct impact on the detection risk (thereby causing it to increase/decrease).

Don't mean to over analyze, but I feel like those two things are different and that's what confuses me each time.

In the above situation the direct impact was that the inherent risk increased. But like you said, that does not mean that detection risk automatically decreases. You, as an auditor, have to decide based on your NET whether to increase/decrease the detection risk. I think your explanation helped out there.

[NYCaccountant]

An increase in inherent risk would have to mean a decrease in detection risk to maintain the same level of audit risk. That is unless the inherent risk is decreased by great controls, which would decrease control risk and maintain the same level of audit risk. Say control risk does not change, inherent risk increases, my acceptable detection risk has to be lower because the controls I can't depend on the controls to catch the error, so I need to catch it. This means more substantive testing by me to lower the risk I won't catch the error.

FAR - 93
REG - 87
BEC - 84!!!!
AUD - 99!!!!!! CPA exam complete.

[iddyrashy]

Sampling Audit is one of the focal point of Audit, my advise is read for the first time do some questions then go back and read it again, Understand the relationships, Plus know the difference between attribute and variable sampling.

AUD 89 (07/06/14)
REG 83 (08/27/2015)
FAR 78 (04/27/2015)
BEC 75 (11/13/2015)

TEXAS 2016

[iddyrashy]

@ Pumpkins don't skip sampling. This is a easy chapter if you understand the concept. I was under the same impression, and I figured it's no effective to avoid it. I took one day and I study, watch video (which i do only if I struggle to understand the material) then I did over 100 questions. That was ending of the weakness.

AUD 89 (07/06/14)
REG 83 (08/27/2015)
FAR 78 (04/27/2015)
BEC 75 (11/13/2015)

TEXAS 2016

[Anonymous]

Does anyone have any advice on simulation research? Sometimes I find it difficult to use the AL when I am trying to research the answer. Any advice would be great, thanks.

[jess3]

what do yall think of just using ninja MCQ and notes only?? I have becker too, but i failed by just doing becker. I had a hard time with becker MCQ's because it was ridiculously boring and so in depth. I've been trying ninja MCQ's and it seems like it's not as unnecessarily in depth as becker and getting to the point. What are your thoughts on it?

[zieba]

JESS,

I did not find Becker's MCQ for audit to be lengthy. Sometimes the expression of an idea is overly wordy, but the concept tested is relatively simple. I encountered plenty of excessively wordy MCQ's on my audit exam. I also saw a fair share of “one liners”. This is not to dissuade you from one or the other, just pointing out that the exam is full of boring and long questions.

If you've used the Becker test bank chances are you may have memorized some answers, it's a subconscious thing. I would definitely use a different test bank in the retake, but don't exclude Becker's MCQ, no? Eventually, as you understand the concepts, you won't need the questions to draw from the text you just read word for word – as is the case with doing MCQ after a lecture – and instead, you'll understand the concepts.

CMON,

The only advice I can give you is to use the advanced search function to “search within” and to search for words appearing next to other words.

AUD - 75*, 88 done 5/14! (*exp)
BEC - 74 , 77
REG - 65 , 76 (10 point combooo!!)
FAR - 69 , 75

Dr: perseverance
Dr: intelligence
Dr: luck
. Cr: . advisory score

[NYCaccountant]

IS Becker considered harder than Ninja? I'm using Wiley, Ninja, and CPAareviewforfree. 3 test banks should get the job done I guess. Becker is too expensive, and I've managed to pass my first 3 without paying all that money.

I'm going to try and do 100 MCQ's a day from here on out until exam day. Probably won't happen, but it's worth a shot.

FAR - 93
REG - 87
BEC - 84!!!!
AUD - 99!!!!!! CPA exam complete.

[iddyrashy]

NYCaccountant@ my opinion base on my studying and understand Becker is straight forward questions. I am using Becker, CPAexcel, Wiley and Ninja. I average 90 on Becker, likewise CPAexcel, Ninja I am at 80%. To my opinion Ninja is more harder, the questions for instance on professional responsibilities (PCAOB) most of the question he wan't you to know the article number and verbiage, other like Becker test only your general understand.

With all that, am still worrying about this exam than anything. More than once I doubt my intelligent and if this is for me. However, am still matching along. 12 days to Exam.

AUD 89 (07/06/14)
REG 83 (08/27/2015)
FAR 78 (04/27/2015)
BEC 75 (11/13/2015)

TEXAS 2016

[NYCaccountant]

@iddyrashy You just have those first test jitters. I'm pretty sure you'll be fine. Did you schedule REG, yet?

FAR - 93
REG - 87
BEC - 84!!!!
AUD - 99!!!!!! CPA exam complete.

[Author]

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