[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

[Anonymous]

I find that sometimes, while considering the answer choices, if three are kind of similar in meaning/context and the fourth is not, it's generally the answer! 🙂 This comes in handy when questions/answers are difficult to understand.

[Qlad]

another hard one for me..

An auditor who uses the work of the specialist may refer to it in the auditor's report if :

1. Auditor modifies report bcoz of the difference in the client's and specialists valuation of the asset.

2. Specialist ‘s findings support the related assertion in the financial stmnt.

3. auditor believes the specialists findings are reasonable in the circumstances.

4. Specialist's findings provide the auditor with greater assurance of reliability about mgmt's assertions.

pls explain ur answers so i will be able to apply that thought process to my questions when solving…i'm having a tough time …

FAR 72,71,81 🙂
AUD 64,71, 72, 75 🙂 I'm done !!!
REG 73, 74, 74, 84 🙂
BEC 76 🙂

[Anonymous]

It's A, the only reason to refer to a specialist, is if his or her findings are different than the clients.

[NYCaccountant]

You can only refer to the work of specialist if helps the readers of the financials understanding of why you chose to qualify the opinion, so the answer is A. Only refer to them if it facilitates and is important for the readers understanding of the financials.

@Ancel I think it's because the report is modified and not because there is a difference of opinion between the client and specialist. Whatever is being valuated may be actually immaterial, so a difference of opinion would not even matter. But because it's modified, referring to the work of specialist will assist the user with understanding why. The paragraph preceding the opinion normally describes the reason why you are qualify the opinion.

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

[iddyrashy]

I think the answer is A. If the audit modified the opinion due to the work performed by a specialist then you can mention the specialist on the report, but you have to get a permission from the specialist.

@NYCaccountant what are you doing now, Ninja MCQ? I am using your strategy of doing all new questions and am almost 50% of Ninja.

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

TEXAS 2016

[NYCaccountant]

I've finished Ninja. I just spend 1 hour and 30 minutes a day on MCQ from Wiley, Ninja and CPAreviewforfree. I just keep doing MCQ's over and over during that time frame from all three test banks. I do this during my free time at work. I spend 2 hours at night reviewing a particular chapter in the Wiley book, taking notes over again, going over weak areas. So I eat, have a drink, study from 8:00PM-10:00PM (almost) every night. I then relax, watch sports center, tv, etc – no studying past 10, that's my rule. This is my plan until the 19th of July, when I sit for the exam.

@iddyrashy What is your plan?

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

[iddyrashy]

@NYCaccountant that is solid plan. So I am anticipate to finish Ninja MCQ by tomorrow, this is the first time am doing only MCQ without review anything. I spent weekend on Government Audit, which was my shade area, I think am okay now. Like you am using my free time at work to do MCQ.

When I get home I always take 1hr nap. Start study 9:00pm to midnight. The only area that I haven't review is professional responsibilities. Other than that I have 12 days to go. Then I will switch back to WTB.

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

TEXAS 2016

[Gian]

hi all

anybody here knows the engagement requirement or its AL for government non profit organization? please..

thank you.

AUD - 69, 80
FAR - 71, rematch 01/19/2015
BEC - 01/12/15
REG - 02/23/15

If life knocks you down, try to land on your back, cause if you can look up, You can get up! No matter how bad it is or how bad it gets, I'M GOING TO MAKE IT.

[NYCaccountant]

@Iddy that drink was not a smart idea tonight lol. No studying got done.

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

[Gian]

hi all

anybody here knows the engagement requirement or its AL for government non profit organization? please..

thank you.

AUD – July 2014

AUD - 69, 80
FAR - 71, rematch 01/19/2015
BEC - 01/12/15
REG - 02/23/15

If life knocks you down, try to land on your back, cause if you can look up, You can get up! No matter how bad it is or how bad it gets, I'M GOING TO MAKE IT.

[iddyrashy]

@NYCaccountant take some rest. I just got up 10:40pm. I will spend an hour doing MCQ. Then went back to bed.

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

TEXAS 2016

[iddyrashy]

@Gian the engagement requirement for Gov Audit doesn't differ much with engagement requirement for non issuer, except few points such as management disclose to auditor all compliance law and regulations which are material to financial statement. But in general it's the same because you're incorporate GAAS and GAGAS, unless it's a single act.

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

TEXAS 2016

[AGI]

@Gian:

I am not sure if the AL include government non profit organization. I don't think you will ever get an AL question on that, most people will fail it?

For governmental requirement: You should Goggle the Yellow Book / GAO

For non-profit: Read the require guidelines from OMB (I think it's from OMB)?

Basically, governmental audit require independent, audit on internal control. Auditors are also require to finish something like 24 hours of CPE class that focus on governmental. Audit focus on program bases and law / regulations.

Non-Profit: Independent, focus on internal control, laws and regulation. Main purpose is to ensure fund granted program runs correctly and follow regulation?

---

What type of engagement requirement you are looking for?

New York - NYC
Passed CPA Exam (11/2014)
In search for a position in NYC that will fulfills the license requirement.

[iddyrashy]

Hi all,

I have a quick question, for those who attempted any part of CPA can you please advise if you find any correlation between the MCQ that we're practice and real exam? Did you find any questions like the one on either Becker or WTB?

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

TEXAS 2016

[Gian]

@yellowsugar and iddyrashy : Thank you for your response. I appreciate it. Previously, I encountered a research question asking the AL for engagement requirement of an accountant need to comply for a non profit organization. The question was in general in form.

AUD – July 2014

AUD - 69, 80
FAR - 71, rematch 01/19/2015
BEC - 01/12/15
REG - 02/23/15

If life knocks you down, try to land on your back, cause if you can look up, You can get up! No matter how bad it is or how bad it gets, I'M GOING TO MAKE IT.

[Author]

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