[jeff]

Post by Another71.

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

[rachel525]

@jstay: you need it both – separate and combined when reporting on internal control for nonissuers and issuers

[rachel525]

@martin: I feel like ninja is a mash-up of both Becker and Wiley. I like Wiley because the questions are categorized into subtopics, easier when you're studying for the transaction cycles and everything else in general

[Mystro]

The need for inherent limitation paragraph is in Integrated audits

[octobergirlie]

Hi everyone – I am using Becker and plan to take AUD on Feb 2 🙂

Question: How important is it for us to know the PCAOB Standards – Guidance for Issuers? In the Becker Audit Review, every section will provide detail for a audit topic, and then provide the PCAOB Standards for that topic.

FAR - 63, 66, 59, 76
BEC - 76
REG - 77
AUD - 63, 66, 82

DONE 🙂

[octobergirlie]

@rachel525 Not sure if this is the answer you are looking for, but I will give it a try 🙂 From the examples in Becker AUD CH 1, it looks like you would update the last sentence in the Auditor's Responsibility paragraph.

For an unmodified opinion, the last sentence would read: “We believe the audit evidence is sufficient and appropriate to provide a basis for our audit opinion.”

For a qualified opinion, the last sentence would read: “We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.”

FAR - 63, 66, 59, 76
BEC - 76
REG - 77
AUD - 63, 66, 82

DONE 🙂

[Anonymous]

Going through notes and this topic seems to cause me some confusion so hoping someone sees the light and can help me understand this…

Incorrect acceptance = efficient but not effective.

Incorrect rejection = effective but not efficient.

How/why would an incorrect rejection be effective?

My thoughts are; an incorrect rejection would lead to more through testing as you are falsely assessing the risk too high thus making your end result more effective and lowering the audits efficiency. Alternatively, incorrect acceptance leads to a lower assessment of risk thus decreasing the amount of work performed increasing the efficiency of the audit but decreasing the effectiveness of the work.

So, incorrect rejection is not effective itself, but impacts the effectiveness of the audit?

Am I looking at this correctly?

[Martin]

Im averaging low 80s on WTB and low 70s on Ninja,so I also conquer with you guys that Ninja is harder.

Through God all things can happen!

“You never fail until you stop trying.”
― Albert Einstein
When I was young, I used to admire intelligent people;as I grow older, I admire kind people.
“Just keep swimming, just keep swimming.”

FAR= 72-84
Audit= 73-82
BEC= 74-75
Reg=77

[Martin]

How can someone feel ready to take Audit when is so tricky. I wonder what will be the ideal average score on ninja to feel that you might have a chance of passing. I noticed that most people with an average of 70 on the ninja vs actual thread actually passed the exam. Bare in mind, I said average and not trending. A trending score of 70 might not do the trick

Through God all things can happen!

“You never fail until you stop trying.”
― Albert Einstein
When I was young, I used to admire intelligent people;as I grow older, I admire kind people.
“Just keep swimming, just keep swimming.”

FAR= 72-84
Audit= 73-82
BEC= 74-75
Reg=77

[SullivanNJD]

@ARCPA2B

The way I wrap my head around that is in terms of the sample.

Incorrect Acceptance: Our sample indicates there are no material misstatements when in fact the full population does have material misstatements. (we say the area under question is OK when it really is NOT) Clearly not effective.

Incorrect Rejection: Our sample indicates there are material misstatements when in fact the full population does not have material misstatements. This Risk is less worrisome as an auditor because of the fact no material misstatement actual exists. However it is not efficient because we put more work into an area we though had material misstatements.

FAR- 87
REG- 81
AUD- 88
BEC-

Who's Better Than Us? nobody

[jstay]

Martin, whats your trending if you dont mind sharing? i averaged 79% and trending 80%

[WANNABE_CPA]

hey everyone, i started Audit preparation about 4 weeks back and taking test on 28th this month, postponed from 7th to 28th. I had to take 1 week off for family visiting from overseas and had a good family union. Now i feel energized to get on it with full force 🙂 , starting today i have 14 days, planning to get through with each Topic starting with least comfortable first, going through leftout Becker homework, simulations, flashcards and then Ninja mcqs. Leaving about 4 days for a review with nonstop Ninja mcqs.

I havent been participating much for this test, hope we can have good quiz sessions.

FAR : 68, 74, 83 Thank you God 🙂
BEC : 78 (8/27) 🙂
REG : 72 ,80 (2/25) 🙂
AUD : 69,67, 07/23

[ruggercpa2b]

I had a trending score of 81 the last time I took Audit and scored 73. However, before that I think I was in the 70s and came out with a 66. I have seen people trending in the 70s and pulled a passing score. I did not get to go through all the questions in the testbank which I am going to do at least 3 times before my next retake.

Audit is very tricky and the only way I got through was by actually knowing the material. I also saw some questions that were word for word from the testbank.

AUD - 73, 72 retake 7/2/2016
BEC - 8/20/2016
REG - TBD
FAR - TBD

I am so ready for this nightmare to be over. Been at this way too long.

[jstay]

// that will probably be the reason i fail tomorrow. ive done 5,000+ questions but i thinks its just because i have gotten good at picking the right answer. im reading my book and i feel so losr

[jstay]

@ruggercpa, what did you use on your other attempts?

[Martin]

jstay, im trending in the 70s as well. Im doing WTB first and then Ninja (weekend). I hate Audit.

Through God all things can happen!

“You never fail until you stop trying.”
― Albert Einstein
When I was young, I used to admire intelligent people;as I grow older, I admire kind people.
“Just keep swimming, just keep swimming.”

FAR= 72-84
Audit= 73-82
BEC= 74-75
Reg=77

[Author]

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