[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

[lvr21]

@Ssbknyc

I think trying to stay positive is half the battle! Don't give up! Keep on keeping on! I usually just go over and over the answers to make sure they stick and that I actually UNDERSTAND the reasoning behind the correct answers. You will get different answers regarding how to study for SIMS. Some people never work a SIM until test day. Some work every single SIM they can get their hands on. I just think you need to know the material and you should be able to conquer the SIMS.

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

[242126]

Can anyone help me understand this question?

As a result of tests of controls, an auditor assesses control risk too high. This incorrect assessment most likely occurred because

A. Control risk based on the auditor's sample is less than the true operating effectiveness of the client's control activity.

B. The auditor believes that the control activity relates to the client's assetsion when, in fact, it does not.

C. The auditor believes that the control activity will reduce the extent of substantive testing when, in fact, it will not.

D. Control risk based on the auditor’s sample is greater than the true operating effectiveness of the client’s control activity.

I though the answer would be A; however, it is D. I thought since control risk is high (meaning less reliance on???) that the auditor's sample was less than the true operating effectiveness.

[greg422]

The auditor is incorrectly assessing RMM too high based on his sample (so underrelying on CR). This leads to an inefficient audit. So their sample is telling them the controls are bad, while in fact they may not be.

REG - 82
AUD - 97
BEC - 81
FAR - 84
DONE!

[Anonymous]

When is everyone taking the test? I can't wait for the 28th to be here. I just finished up A4 today (I started studying last monday, this is the fastest I've ever gone through the material). I plan to get through A5 and A6 this week and have a week and a half of solid review to do all of the Ninja MCQs

[Anonymous]

I am taking it on the 23rd.. hate A4!

[Anonymous]

Is it possible to make it through sections 3-6 in 4 full days? If I study all day for the next 4 days, I was hoping I could finish a section per day and be able to start reviewing Saturday morning. Is this doable or crazy? I really do not want to reschedule for October but I have gotten behind.

[thelonewolf527]

Cstogner are you using Becker? If so, Chapter 4 will probably take more than 1 day. Chapter 3 may as well. Chapter 5 is actually pretty short and Chapter 6 isn't bad either. So if you studied for like 6-7 hours a day, then I'd say you may be able to do 5 and 6 in a day each, but 3 and 4 may take longer

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

DONE!

[Anonymous]

I'm busting my @$$ to get through the material and each section is taking 3 days. I dont think one day per section, especially for chapter 4 is realistic.

[Anonymous]

thelonewolf yes, I am using Becker. I think I will leave my test scheduled for the 25th and make my decision about rescheduling based on how far I am by Saturday. Thank you for your input!

[Anonymous]

Amanda_88 do you watch the lectures?

[JamesBJames]

I wouldn't kill yourself doing four sections in four days. AUD's pretty short… and if you're doing 2/3rds of the book that fast, anyway, I don't think you'd need a week and a half to review. If you're still committed to doing it fast, I'd say complete chapters 3 and 4 in two to three days and do chapters 5 and 6 in one to two days.

FAR: May 1st, 2014 - 91
AUD: May 29th, 2014 - 97!
BEC: July 16th, 2014 - 91
REG: August 29th, 2014 - 88

Licensed December 2015

Feel free to add me on LinkedIn by clicking my username!

[willpassby2014]

Which of the following factors is most likely to affect the extent of the documentation of the auditor's understanding of a client's system of internal controls?

Incorrect

The industry and the business and regulatory environments in which the client operates

The degree to which information technology is used in the accounting function

The relationship between management, the board of directors, and external stakeholders

The degree to which the auditor intends to use internal audit personnel to perform substantive tests

BEC Passed
FAR Passed
AUD Passed
REG Passed

[Anonymous]

@cstogner- yes I do.

@will I'm going with The industry and the business and regulatory environments in which the client operates

[MC Guesser]

@willpassby I would say the degree to which technology is used

FAR: 7/1/14 (85)
REG: 7/28/14 (88)
AUD: 8/22/14 (84)
BEC: 8/28/14 (83)

CPAExcel, WileyTB, Ninja Notes and Blitz

[Anonymous]

Looks like this is a 2010 released question and the correct answer is B. The more complex the IT system, the more extensive the documentation and vice versa.

[Author]

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