[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

[riceperson]

@NYC I just tried 20 difficult questions. Got a 15/20… really shoulda gotten a 16, but I'll take it. Gonna go try the mediums now.

FAR 69, 83
AUD 85
BEC 80
REG 82
FINISHED

[riceperson]

@NYC I just did 10 regular questions… 9/10 in 9 minutes. I'm praying for something that easy, but I'm not gonna rest my laurels on that. If those 30 I did was a testlet…. 24/30? not bad, but could be better.

FAR 69, 83
AUD 85
BEC 80
REG 82
FINISHED

[Gian]

hey riceperson,

where can i access the 2014 released questions for aud?

cheers,

Gian

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.

[Anonymous]

@BEACPA,

thank you for your input!

Qualified opinion is not an option, so probably it's disclaimer.

I thought that qualified opinion is given more often when auditor is not able to obtain an evidence. When there is a scope limitation b/c of the management , disclaimer of opinion is given. That is why I was not sure about that question. What about reassess the risk, can it be an option?

[Anonymous]

started AUD today after taking FAR on Wednesday. I just took my auditing class in school this past spring semester. it's kind of a double edged sword. I remember a lot of stuff, which yeah, that's great. at the same time, I really don't want to study less intensively because of that fact. there's too much stuff I probably forgot, or just didn't learn at all (my professor did mention our audit course covered only about 60% of the AUD material). but it is just so, so tempting to skip through half of these lessons…I want to be efficient, but I am way too afraid of missing things.

[Hunnsterr]

Hey guys! I'm appearing for my 3rd AUD retake. I scored 64 on both my previous attempts 🙁

I'm really nervous about my exam and don't want to screw up again.

I've been procrastinating my MCQ's n SIM: hence the backlog and i'm all over my AUD plan chart.

My exam is in 2.5 weeks!! How many MCQ's do you target for each day?

Thought of re-focusing by joining the forum. Gotta get back on track.

@CPA_NY & @BEACPA:

I wouldn't' jump on “Disclaimer of opinion” immediately. Just to be sure, I hope you're not confusing asking for documentation and inquiring with predecessor auditor. There is a difference between a successor auditor INQUIRING with the predecessor auditor, and a successor auditor ASKING for DOCUMENTATION of a predecessor auditor.

AU C-210 states that the successor auditor SHOULD get permission to INQUIRE specific matters (4 of them) with the predecessor. If the predecessor refuses to respond to the inquiries, then the successor should consider the implications and refuse to accept the engagement

Meanwhile, prof ethics states that a CPA is not allowed to pass on client documentation to a successor auditor, unless the client gives specific consent. Permission to INQUIRE with a predecessor is NOT a specific consent for documentation. Even if the client does give specific consent, extent of access to predecessor's documentation is provided per predecessor's judgement. Predecessor auditor is not responsible if the documentation given to successor is not sufficient or appropriate.

Hence, my answer would be something along the lines of “perform other audit procedures”, I'm unsure about choosing “reassess the risk” but the answer would definitely not be “disclaimer of opinion” since the matter isn't pervasive enough.

I may be wrong here, so please let me know of any counter-arguments

BEC - 88
REG - 72, 78
FAR - 75
AUD - 64, 64, 3rd attempt!!!

"A day of worry is more exhausting than a day of work" - John Lubbock

[Anonymous]

@Hunnsterr

“AU C-210 states that the successor auditor SHOULD get permission to INQUIRE specific matters (4 of them) with the predecessor. If the predecessor refuses to respond to the inquiries, then the successor should consider the implications and refuse to accept the engagement”

This sounds right to me:)) Problem does not say that about the permission of inquiry, so I assumed that permission was given by management, but predecessor refused providing/refused to respond documentation.

Anyway, I think this is a good question:)

Thank you for your input!

[Hunnsterr]

@CPA_NY: glad to be of help 🙂

BEC - 88
REG - 72, 78
FAR - 75
AUD - 64, 64, 3rd attempt!!!

"A day of worry is more exhausting than a day of work" - John Lubbock

[thelonewolf527]

Yeah can someone please link to the 2014 questions? I've looked and can't find them anywhere, assuming they're publicly released

AUD - 08/04/14 - 83
FAR - 11/29/14 - 80
REG - 02/26/15 - 89
BEC - 05/30/15 - 86

DONE!

[lvr21]

I haven't been as much help as in the past, but I found this quote… I LOVE it!

NEVER QUIT. If you stumble GET back up. What happened yesterday NO longer matters. Today’s another day SO get back on track move closer to YOUR dreams and goals.. YOU CAN DO IT!!

{R: PASSED!! (I passed one!)}
{B: PASSED!! (Halfway there!)}
{F: PASSED!! (1 left!!!)}
{A: PASSED(I am done!!)}

[Anonymous]

Just took AUD today. I don't know what difficulty my MCQ testlets were, but I felt like the 1st one was harder than the other two. I had one sim that could have been from FAR and the rest were audit material.

I'm not going to think about this anymore. I'm just going to pretend I didn't take the test until score release.

Good luck, everyone!

[funtiks]

Im confused with IT stuff:

1. Test Data = we use our own data for which we know the results, run it on clients system (offline) and compare results.

2. Integrated test facility = we use our own data for which we know results and run it on clients system while its (online)? and compare to results??? CONFUSED HERE!!

3. Parallell simulation = Process clients data on our system and compare results

4. Generalized auditing software uses parallel simulation??

FAR - 76*, 73, 85
BEC - 69, 72, 78*, 80
AUD - 72, 71, 90
REG - 71, 74, 85

AFTER 3 YEARS I'M DONE!!!

[NYCaccountant]

The difference between integrated and test data approach is the Auditor is processing fake and real transactions together. So you are processing fake transactions during live processing during integrated test facility.

Parallel simulation is using generalized audit software to process real client transactions and compare the results to the clients output.

Test data, integrated test facility = Use client program to test controls

Controlled reprocessing and parallel simulation = Parallel simulation uses generalized audit software and controlled reprocessing uses a duplicate copy of the clients program.

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

[Anonymous]

As a result of tests of controls, an auditor assessed control risk too low and decreased substantive testing. This assessment occurred because the true deviation rate in the population was:

Answer: More than the deviation rate in the auditor's sample.

BUT what's wrong with this answer: More than the risk of assessing control risk too low, based on the auditor's sample.

Explanation why it's wrong: No comparison should be made between the true deviation rate and the risk of assessing control risk too low.

Why can't you compare?

[NYCaccountant]

The risk of assessing the control risk too low has nothing to do with the actual deviation rate in the sample. It comes in to play when determining sample size, then you figure out the deviation rate, add a cushion for sample risk and compare this to the tolerable rate to see if reliance can be placed on controls or not. So say the deviation rate in the sample is 10%, but the actual deviation in the population is 20%, we placed too much reliance on the controls and as a result assess control risk too low.

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

[Author]

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