[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

[LT-P]

@TinyBear great advice. I mistakenly flew through the lectures just to get all the highlighting done. Now I'm going to have to re-watch/write crazy notes before I do my 2nd round of MCQ's. Hoping 4 days is enough time to do that ..

Good luck!

- passed all 4 exams on my first try using Becker!

Ethics: TBD

[LT-P]

@TinyBear great advice. I mistakenly flew through the lectures just to get all the highlighting done. Now I'm going to have to re-watch/write crazy notes before I do my 2nd round of MCQ's. Hoping 4 days is enough time to do that ..

Good luck!

- passed all 4 exams on my first try using Becker!

Ethics: TBD

[Anonymous]

FYI–If you are using Ninja Audio for AUD–it states that Auditors want evidence that is sufficient, which speaks to the quality of the evidence. That is incorrect. It speaks to the QUANTITY of the evidence. The Ninja notes are correct.

[Anonymous]

FYI–If you are using Ninja Audio for AUD–it states that Auditors want evidence that is sufficient, which speaks to the quality of the evidence. That is incorrect. It speaks to the QUANTITY of the evidence. The Ninja notes are correct.

[barelystayingsane]

@CPAMommyof3 yes and no…While sufficiency certainly deals with quantity, it is also influenced by two things: the risk of material misstatement and the quality of the evidence. As the quality of the evidence increases, you may not have to collect as much of it.

Edit: Never mind…I think you could say sufficiency speaks to the quantity of evidence but is influenced by the quality of evidence.

[barelystayingsane]

@CPAMommyof3 yes and no…While sufficiency certainly deals with quantity, it is also influenced by two things: the risk of material misstatement and the quality of the evidence. As the quality of the evidence increases, you may not have to collect as much of it.

Edit: Never mind…I think you could say sufficiency speaks to the quantity of evidence but is influenced by the quality of evidence.

[Anonymous]

@barelystyingsane. I agree. The two are quite interrelated, but I was just looking at it in terms of Sufficient: Have you gathered enough evidence? and Appropriateness: Does the evidence you have gathered have the quality needed to be relevant and reliable?

[Anonymous]

@barelystyingsane. I agree. The two are quite interrelated, but I was just looking at it in terms of Sufficient: Have you gathered enough evidence? and Appropriateness: Does the evidence you have gathered have the quality needed to be relevant and reliable?

[Jsingh23]

@barelystayingsane thanks for your explanation…it really helped me out big time…finally makes sense.

I was working on some simulations for Audit B Chapter 5 (Sampling Risk)…The actual sim I am working on is #7 on PPS sampling. I am pretty sure I am doing everything correct…but for some reason on a couple of the questions I am off on the projected misstatement by ONE dollar. I check the solution and my tainting percentage is correct so I do not see where I am getting thrown off.

Ex. Need to Round to 2 decimals

Recorded Amount- $32,850

Audited Amount- $31,900

Difference is $950

Tainting percentage – 2.89% (950/32,850 = .02891)

Sampling Interval- $40,000

MY Projected Misstatement- $1156 ($40,000 x 2.89%)

Solution says: $1157

* Any advice? has anyone has this problem before? Im off by a dollar on a couple of them because….but for the rest of the problems I was correct.

AUDIT-89
BEC-83
REG-78
FAR- April 19

[Jsingh23]

@barelystayingsane thanks for your explanation…it really helped me out big time…finally makes sense.

I was working on some simulations for Audit B Chapter 5 (Sampling Risk)…The actual sim I am working on is #7 on PPS sampling. I am pretty sure I am doing everything correct…but for some reason on a couple of the questions I am off on the projected misstatement by ONE dollar. I check the solution and my tainting percentage is correct so I do not see where I am getting thrown off.

Ex. Need to Round to 2 decimals

Recorded Amount- $32,850

Audited Amount- $31,900

Difference is $950

Tainting percentage – 2.89% (950/32,850 = .02891)

Sampling Interval- $40,000

MY Projected Misstatement- $1156 ($40,000 x 2.89%)

Solution says: $1157

* Any advice? has anyone has this problem before? Im off by a dollar on a couple of them because….but for the rest of the problems I was correct.

AUDIT-89
BEC-83
REG-78
FAR- April 19

[LT-P]

would a “fixed-asset register” be a source document or part of the records?

whoa. can't believe I made it through the transaction cycle MCQ's. anything is possible lol.

- passed all 4 exams on my first try using Becker!

Ethics: TBD

[LT-P]

would a “fixed-asset register” be a source document or part of the records?

whoa. can't believe I made it through the transaction cycle MCQ's. anything is possible lol.

- passed all 4 exams on my first try using Becker!

Ethics: TBD

[manimau]

Hey guys,

I have one question from wiley test bank. I eel the correct answer is different from what is given as a correct answer.

the question is:

Under International Auditing Standards (ISA), the time horizon for a going concern consideration is

the answer choices are:

• Not longer than twelve months from the date of the financial statements.

• At least twelve months from the date of the financial statements.

• Not longer than twelve months from the date of the audit report.

• At least twelve months from the date of the audit report.

According to them number 4 is the right answer. But I think number 2 is the right option. Am I right or wrong?

[manimau]

Hey guys,

I have one question from wiley test bank. I eel the correct answer is different from what is given as a correct answer.

the question is:

Under International Auditing Standards (ISA), the time horizon for a going concern consideration is

the answer choices are:

• Not longer than twelve months from the date of the financial statements.

• At least twelve months from the date of the financial statements.

• Not longer than twelve months from the date of the audit report.

• At least twelve months from the date of the audit report.

According to them number 4 is the right answer. But I think number 2 is the right option. Am I right or wrong?

[barelystayingsane]

Becker is saying number 2 is correct.

[Author]

Replies