[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

[mjp44]

Thanks onmyway, that makes sense. So would it be fair to say that examination of evidence is = to test of details?

FAR- PASSED (11/13)
REG- PASSED (2/14)
BEC- PASSED (5/14)
AUD- PASSED (8/14)

If it's important to you, you will find a way. If it isn't, you will find an excuse.

[Hunnsterr]

@mjp44:

Onmyway732 explained it perfectly. The crux for the answer is that examination of evidence concentrates on evidence the auditor obtained himself. While all the other options are examples of evidence obtained from management or internal information. Hence attestation risk is best reduced by examination of evidence by the auditor himself.

I have another reporting question.

“Omission of a statement of cash flows when an entity issues f/s that present financial position and result of operation, results in a qualified opinion with basis for qualified opinion para”

Why is it a qualified opinion. Isn't the auditor allowed to report only on one of the F/S??

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

[Hunnsterr]

A few more REPORTING qs:

1- Just to make sure, are we allowed an “emphasis of matter” para or “other matter para” while giving a Qualified opinion?

2- Does the PCAOB report have headings like “Auditor's responsibility, Opinion, etc”. Or is it only Non-issuer's reports under GAAS which have headings?

Thanks

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

[iddyrashy]

@Gian yes i am current studying REG, I started with Becker and I said Nope it's too much notes now am using CPAexcel. Honest REG is a foreign language.

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

TEXAS 2016

[funtiks]

To me REG is so much easier than AUD crap. Granted I only did one chapter so far. With REG I can relate some concepts to real life scenarios which makes it easy to understand

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

AFTER 3 YEARS I'M DONE!!!

[NYCaccountant]

@hunnster you can have a qualified opinion with other matter paragraph. I'm pretty sure PCAOB has no headings. @iddy I know what mean't by Internal control questions by the way lol.

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

[Hunnsterr]

@NYCaccountant:

Thanks a lot!

ANd I wish you the best for your results. Don't worry too much and enjoy the break. I'm sure you did well

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

[mjp44]

@hunnster.. if an entity omit's one of its financial statements, this is a qualified opinion because its a departure from GAAP. Companies are required to present all f/s to public. An auditor may be only required to audit the balance sheet and maybe a different auditor is auditing the other financial statements. Furthermore, the client should provide access of all the financial statements to the auditor.

FAR- PASSED (11/13)
REG- PASSED (2/14)
BEC- PASSED (5/14)
AUD- PASSED (8/14)

If it's important to you, you will find a way. If it isn't, you will find an excuse.

[jasbeerch]

Hi Everyone,

Which journal entries from FAR are important for AUD exam?

Thanks in advance

[jackaroe]

@funtiks and @nyc accountants re:simluations. It irks me when I read that people found all of the answers to their sims word for word in the AL. My past two attempts at this, there was NO way that I could have found word for word answers for most of the sims that I received. I have gone back through every AU-C. In some ways, the clarity standards have made things worse (see old AU 332 which has morphed into at least parts of five other AU-Cs). Wiley/Gleim/Roger haven't been much help at all with simulation practice – MCs – no problem. May the AICPA gods provide each of us with exams next time – that contain at least half of the simulations that can actually be found word for word in the AL or a 75.

[funtiks]

my friend got two simulation where he had to fill in the blanks in a certain report….

the reports can be found in the AL within 1 minute…

In addition, 2 research SIMS which are easy to find if you know the topics well.

That only leaves 3 SIMS ….

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

AFTER 3 YEARS I'M DONE!!!

[NYCaccountant]

@Funtiks Lucky. I did not have those kind of SIMs. I had more conceptual, but weirdly structured SIMs. I guessed a lot!

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

[thechapman]

Anyone know where you can find info on the auditor's report in the AL? I've poked around on the Becker SIM AL and when I see sections that I think would contain info on it, it doesn't provide much. I've heard people say that the reports can be found in the AL verbatim, or close to it. Any insight on this?

Passed - 2014

[funtiks]

Becker doesn't have full AL

its relatively easy in actual AL. Say you need Attestation compliance report, you just look for general topic and then scroll around

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

AFTER 3 YEARS I'M DONE!!!

[Hunnsterr]

@mjp44: Thanks 🙂

@thechapman:

You can get the entire Authoritative Literate on the AICPA website. There was a certain link to the page on one of the Ninja Forums. And yes you can find reports verbatim on the AL.

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

[Author]

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