[jeff]

AUD Resources:

Free AUD Notes & Audio – https://www.another71.com/cpa-exam-study-plan

AUD 10 Point Combo: https://www.another71.com/products-page/ten-point-combo

AUD Score Release: https://www.another71.com/cpa-exam-scores-results-release

[JTS254]

@Solo- You can absolutely fit those two in the same window. I'm on the same timeline as Sarita and took BEC and FAR in the July August window. I've got Audit scheduled for the first week of October and REG at the end of November.

FAR - 84
BEC - 89
AUD - 93
REG - 87

[JTS254]

@Solo- You can absolutely fit those two in the same window. I'm on the same timeline as Sarita and took BEC and FAR in the July August window. I've got Audit scheduled for the first week of October and REG at the end of November.

FAR - 84
BEC - 89
AUD - 93
REG - 87

[MrsBing]

I got the following Becker question in A1. After reading A1, I could've sworn that I read that you can't issue different opinions on different statements, you can only issue one opinion on all statements as a whole, but I can't remember what page I read this on. Does this sound familiar to anyone? I know with the pre-clarity GAAS, you can issue different opinions on different statements, but the question doesn't specify pre or post clarity.

An auditor who is unable to form an opinion on a new client's opening inventory balances may issue an unmodified opinion on the current year's:

a.Statement of cash flows only.

b.Statement of shareholders' equity only.

c.Balance sheet only.

d.Income statement only.

Choice “c” is correct. If the auditor is unable to form an opinion on a new client's opening inventory balances, the auditor will issue an opinion on the closing balance sheet only and will issue a disclaimer of opinion on the statements of income, retained earnings and cash flows.

Choices “d”, “a”, and “b” are incorrect. The auditor should issue a disclaimer of opinion on these financial statements if the auditor is unable to form an opinion regarding opening inventory balances.

Becker, Wiley Test Bank, and Ninja 10 Point Combo!

FAR: 89
REG: 87
AUD: 92
BEC: 75
Ethics: 90

Licensed Arizona CPA

[MrsBing]

I got the following Becker question in A1. After reading A1, I could've sworn that I read that you can't issue different opinions on different statements, you can only issue one opinion on all statements as a whole, but I can't remember what page I read this on. Does this sound familiar to anyone? I know with the pre-clarity GAAS, you can issue different opinions on different statements, but the question doesn't specify pre or post clarity.

An auditor who is unable to form an opinion on a new client's opening inventory balances may issue an unmodified opinion on the current year's:

a.Statement of cash flows only.

b.Statement of shareholders' equity only.

c.Balance sheet only.

d.Income statement only.

Choice “c” is correct. If the auditor is unable to form an opinion on a new client's opening inventory balances, the auditor will issue an opinion on the closing balance sheet only and will issue a disclaimer of opinion on the statements of income, retained earnings and cash flows.

Choices “d”, “a”, and “b” are incorrect. The auditor should issue a disclaimer of opinion on these financial statements if the auditor is unable to form an opinion regarding opening inventory balances.

Becker, Wiley Test Bank, and Ninja 10 Point Combo!

FAR: 89
REG: 87
AUD: 92
BEC: 75
Ethics: 90

Licensed Arizona CPA

[Anonymous]

@Mrsbing

I just assumed it was clarified. What I am doing and I thought I also heard this somewhere was just assume clarified and on the exam it will be VERY clear if it is the old standards (it will tell you).

[Anonymous]

@Mrsbing

I just assumed it was clarified. What I am doing and I thought I also heard this somewhere was just assume clarified and on the exam it will be VERY clear if it is the old standards (it will tell you).

[MrsBing]

If it's clarified, can the auditor express different opinions on different finanical statements?

Becker, Wiley Test Bank, and Ninja 10 Point Combo!

FAR: 89
REG: 87
AUD: 92
BEC: 75
Ethics: 90

Licensed Arizona CPA

[MrsBing]

If it's clarified, can the auditor express different opinions on different finanical statements?

Becker, Wiley Test Bank, and Ninja 10 Point Combo!

FAR: 89
REG: 87
AUD: 92
BEC: 75
Ethics: 90

Licensed Arizona CPA

[Anonymous]

Generally, I don't think so. No piecemeal reporting under clarified.

Someone please correct me if that's wrong. I remember this but I can't find it in the becker book for the life of me right now!

[Anonymous]

Generally, I don't think so. No piecemeal reporting under clarified.

Someone please correct me if that's wrong. I remember this but I can't find it in the becker book for the life of me right now!

[Anonymous]

@Mrsbing – check this out, it's an explanation from a question in A2 and I believe this is the theory of our issue with the new clarified standards.

Piecemeal opinions (opinions on parts of the financial statements, when those parts constitute a major portion of the financial statements) are not appropriate if the auditor has disclaimed an opinion or issued an adverse opinion, because they may overshadow the auditor's opinion on the financial statements taken as a whole.

If they are NOT a major element, lets say an opinion on a single account, then it is okay to issue different opinions.

[Anonymous]

@Mrsbing – check this out, it's an explanation from a question in A2 and I believe this is the theory of our issue with the new clarified standards.

Piecemeal opinions (opinions on parts of the financial statements, when those parts constitute a major portion of the financial statements) are not appropriate if the auditor has disclaimed an opinion or issued an adverse opinion, because they may overshadow the auditor's opinion on the financial statements taken as a whole.

If they are NOT a major element, lets say an opinion on a single account, then it is okay to issue different opinions.

[Anonymous]

Can a CPA perform duties authorized by client?

Are there any limitations?

[Anonymous]

Can a CPA perform duties authorized by client?

Are there any limitations?

[ItsStudyTime]

Solodolo – I'm taking BEC and AUD both this testing period. I've scheduled BEC for October 1 and AUD for October 21. If you put in some focused study time, you can definitely do it.

BEC - 10/01/2013 - 80 - Wiley books and test bank
AUD - 10/21/2013 - 78 - Wiley books and test bank
REG - 11/27/2013 - 78 - Wiley books and test bank
FAR - 01/13/2014 - 79 - Wiley books and test bank, Ninja Blitz

License Issued 03/17/2014

[Author]

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