[jeff]

Trying something new …

AUD - 79
BEC - 80
FAR - 76
REG - 92

Jeff Elliott, CPA (KS)
NINJA CPA | NINJA CMA | NINJA CPE | Another71

[Lisa_Jane]

Hi everyone. My retake Audit exam is in 4 weeks on November 29th. This time I am memorizing what Yeager told me to memorize (standard report, review report, and compilation report). They said I don't have to memorize GAAS word for word, but I am anyway.

My question is- for those who struggled to pass, and who did pass Audit- do I need to memorize the Attestation Standards- very similiar to GAAS?

Thank you, and good luck to everyone!

FAR Passed 5/28/14
AUD Passed 1/22/13
BEC Passed 7/12/13
REG Passed 5/9/14
Virginia CPA license issued July 2014

[Niki]

Hey guys,

I am studying for AUD and I have a really hard time to understand the question below. I don't even know how start answering it… I would appreciate your help with it…

An audit partner is developing an office-training program to familiarize his professional staff with statistical decision models applicable to the audit of dollar-value balances. He wishes to demonstrate the relationship of sample sizes to population size and variability and the auditor’s specifications as to precision and confidence level. The partner prepared the following table to show comparative population characteristics and audit specifications of two populations.

Audit specifications of

Characteristics of a sample from population 1

population 1 relative relative to a sample

to population 2 from population 2

Specified

Specified confidence

Size Variability precision level

Case 1 Equal Equal Equal Higher

Case 2 Equal Larger Tighter Equal

Case 3 Larger Equal Tighter Lower

Case 4 Smaller Smaller Equal Lower

Case 5 Larger Equal Equal Higher

Based on the information presented above, you are to indicate for the specified case from the table the required sample size to be selected from population 1 relative to the sample from population 2. In case 1,

a. the required sample from population 1 is larger than the required sample size from population 2.

b. the required sample from population 1 is equal to the required sample size from population 2.

c. the required sample from population 1 is smaller than the required sample size from population 2.

d. the sample from population 1 is indeterminate relative to the required sample size from population 2.

REG - Passed
FAR - Passed
AUD - Passed
BEC - 07/15/13

[hello_sol]

Hi guys,

I just joined this group because I feel very insecure going into my audit exam in 8 days. I'm only using Becker and so far I've finished all HW and simulations and also took notes on all lectures after viewing them. I have done about 15 progress tests and my scores are usually in the low 80s range but I'm scared that I'm just memorizing the answers.

I'm waiting to do the comprehensive tests a couple of days before the actual test, which worked out well for me for REG/BEC. Even though this is the same step I'm taking for AUD, I can't help but feel that this is the most difficult section for me. I've taken one audit class in school and I have zero experience working in audit.

Can anyone give me advice on what I should do from now that I have very limited time? I want to make sure I'm studying the right way.

REG: PASSED July
BEC: PASSED July
AUD: PASSED November
FAR: PASSED January
DONE DONE DONE DONE DONE!
Becker Only

[Anonymous]

hello_sol: I would recommend doing as many progress tests as possible. Someone told me prior to my exam that the process of creating new test questions is expensive — expect to see MANY multiple choice questions that are similar to (if not exactly) what you've seen in Becker. As I was going through the progress tests, I would read through the explanations for incorrect answers, as well as those for correct answers, so that I understood why certain options were wrong. This helped me to identify words/phrases/tricks the examiners use that render a seemingly good answer incorrect. Like you, I did the simulations once. That is enough. If you understand the concepts in the multiple choice questions and how to use the authoritative literature, you should be well equipped to handle most simulations you might see. I hope that helps. Good luck on the exam!

[Anonymous]

Hi All, using CPA excel for AUD and like REG, do not think that the reserach function is anything like the real exam (way too easy to find things). Is there a good, third party source you can use to practice on that will be more similar to the exam? I didn't use one in REG and regretted it as it took me FOREVER to find the answer on my research question.

[msmeyer]

@Niki

Can you more clearly arrange the question so that we know which of the characteristics is which? (i.e. first is population, then variability, then precision, etc.)? This is very similar to a question I saw last night while studying.

Just as an overall comment–if the auditor wants less Beta risk, they would choose a greater sample. The higher the precision, the bigger the sample should be. Population shouldn't affect your sample. Variability would affect your sample and would also affect the sampling methodology you use.

BEC - 86
FAR - 76
AUD - 73, 86
REG - 61, 73, 82

DONE!!

CPA, CIA, CRMA

[redox1100]

Guys I could really use some help….

This question is in regards to A-4 (Becker); Substantive Procedures for Inventory

My basic understanding is this,,,,

• Tracing from CPA test counts/Company pre-numbered inventory tags to Client physical inventory report (list) tests for COMPLETENESS

• Vouching from Client physical inventory report (list) to CPA Test Counts/Company pre-numbered inventory tags tests for EXISTENCE/OCCURRENCE

2 Questions:.

1. To gain assurance that all inventory items in a client's inventory schedule are valid, an auditor most likely would trace:

A. Inventory tags noted during the auditor's observation to items listen in the inventory-listing schedule

B. Inventory tags noted during the auditors observation to items listen in receiving reports and vendor invoices

C. Items listed in the inventory-listing schedule to inventory tags and the auditor's recorded count sheets

D. Items listed in receiving reports and vendor invoices to the inventory-listing schedule

Explanation from materials: “C” is the correct answer: Tracing from the inventory schedule to the inventory tags and the auditor's record count sheets verifies the validity (existence) of all items (This obviously confused me because tracing tests for completeness)

2. The purpose of tracing a sample of inventory tags to a client's computerized listing of inventory items is to determine whether the inventory items:

A. Represented by tags were included on the listing

B. Included on the listing were properly counted

C. Represented by tags were reduced to the lower of cost or market

D. Included in the listing were properly valued

Explanation from materials: “A” is the correct answer. the directional test of tracing is generally used to test the existence of an asset; in this case this would be noted by whether the inventory items represented by the tags were included on the listing. (This again confused me because tracing tests for completeness)

PLEASE HELP ME!

[LSNYC]

I just move my exam. I was supposed to take it 11/24 but the last 10 days have been hard up here in the north-east, so I have done minimal studying. I was already freaking out about not being ready so I pushed the exam to 12/6, which just happens to be my birthday, Happy birthday to me! I'm hopping the extra week and a half of study time will allow me to get back on track. Today I get back on my study plan!

Good luck everyone

A - 61, 91!!
B - 78!
F - 76!!!
R - 71, 73, 74, 69, 77!!!!

Finally done!

This is my 2nd attempt at the exam, I had two parts passed (failed many) and I stupidly quit, big mistake. Now I'm back and with a vengeance!

[msmeyer]

@redox1100

Someone else found the same issue and created a whole thread about it (see last link). Even Jeff replied. I had issues with this question too and just ignored it since I always see so many issues with Becker. The other thing is that it doesn't even show up on their updates (https://beckerkb.custhelp.com/app/answers/detail/a_id/843). It seems to me like the answers are correct but the explanations are wrong.

Here's the link to that thread:

https://www.another71.com/cpa-exam-forum/topic/inventory-existence-assertion

BEC - 86
FAR - 76
AUD - 73, 86
REG - 61, 73, 82

DONE!!

CPA, CIA, CRMA

[sannawong]

I am going to take AUD the third try this afternoon. I failed at 73 in April 2012. I was once to give up, but I think I am very close to pass.

REG-

BEC-

FAR-

not yet decide a date.

[Anonymous]

@sannawong – Good Luck!!!! You will be fine! Please let us know about your exam experience.

[I Want My Life Back 10.12]

Just passed Audit with an 89!!! A 19 point jump in score! SO excited!

Good luck to all! 3 down 1 to go!

REG - 72 (Oct 2011), 74 (May 2012), 80 (July 2012)
FAR - 77 (Feb 2012)
AUD - 70 (Aug 2012), 89! (Oct 2012)
BEC - 71 (Dec 2012), 75!(Feb 2013)

[sln1000]

Is it advisable to give exams in new York in jan 2013 considering the weather? Can someone help me?.

BEC: 77(Nov 2010), 81(Jul 2012).
FAR: 80(Jul 2012).
REG: 72(Jul 2012), 78(Oct 2012).
AUD: 71(Nov 2010),74(Jul 2012),74(Oct 2012),75(Jan 2013)- Thanks God, without you i couldnt have done this. I'M DONE !!!

[sln1000]

Is it advisable to give exams in new York in jan 2013 considering the weather? Can someone help me?.

BEC: 77(Nov 2010), 81(Jul 2012).
FAR: 80(Jul 2012).
REG: 72(Jul 2012), 78(Oct 2012).
AUD: 71(Nov 2010),74(Jul 2012),74(Oct 2012),75(Jan 2013)- Thanks God, without you i couldnt have done this. I'M DONE !!!

[mrwills12]

@sln1000, While i dont live in NY I live in MN and the weather here in MN sucks as well in Jan. I am thinking that it doesnt matter what the weather is like outside i still will take an exam. The chances of you not being able to make it to the testing center because of the weather on your test day are pretty small.

FAR - 88 (Jul 2012)
AUD - 85 (Oct 2012)
BEC - 82 (Nov 2012)
REG - 92 (Jan 2013) DONE!

Using Becker Self Study 2012

[Author]

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