[jeff]

Post by Another71.

Free Study Planner, Notes, Audio, Flashcards: https://www.another71.com/cpa-exam-study-plan/

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[hudnetj]

my exam just got cancelled for tomorrow. Rescheduled it to Wednesday but realllly wanted to get this thing over with.

BEC - 76
REG - 76
FAR - 77
AUD - 63, 89

DONE!!

CPA 3/15

[Martin]

I just want to make sure if the below is correct. The auditor and the attorney must reach an understanding as to the limits of materiality right? I read somewhere here that it was client and the auditor.

A lawyer's response to an auditor's inquiry concerning litigation, claims, and assessments may be limited to matters that are considered individually or collectively material to the client's financial statements. Which parties should reach an understanding on the limits of materiality for this purpose?

A.

The board and the client's management

B.

The client's audit committee and the lawyer

C.

The client's management and the lawyer

Correct D.

The lawyer and the auditor

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

[Anonymous]

It is correct that the lawyer and the auditor should agree on the materiality.

[Anonymous]

Anyone else getting completely burned out on AUD MCQ's? I can't stand looking at these things any more. So ready to put this one behind me. All this conceptual crap and mind games with the wording of questions is getting really old. I'm ready for some numbers again. Really hope I don't ever have to study this material ever again after this Friday.

[Martin]

Although FAR has almost 2.5 times more info than Audit, I felt pretty sure about my answers. My Audit exam is on the 27th and I have been studying for 3 months, but Im still debating between two possible answers on each MC. The funny thing is that the AICPA released questions they allow us to practice with are so straight forward that is kind of hard to score less than an 85%,

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

[swilk]

I am also feeling quite quite burnt out on these Audit MCQs. I come across far too many MCQs where I debate between 2 answers. I also don't have great comfort in some of the TBSs I've practiced, but I need to just keep hammering through them and try to really nail down the concepts.

I've been studying for about 4 – 5 weeks using the Roger CPA Review Program. The lectures were great, kept me very focused. However, at this point, I'm consistently scoring in the 72% – 78% range on practice tests/quizzes. I was hoping to be doing far better, being that my exam is on 2/26!

It is the first part I am sitting for, and I don't know what to expect. I can't really gauge if I've done enough studying becuase I've never experienced the exam before. I feel the practice tests are even starting to be slightly ineffective imo, due to repeat questions, etc.

Any advice/input for the final stretch leading to the exam would be very appreciated! Best of luck to you all!!

AUD - 90 (2.26.2015)
BEC - 76 (5.4.2015)
REG - 79 (8.31.2015)
FAR - 76 (2.22.2016)

Roger and Ninja MCQ FTW.

[Martin]

swilkinson, Im using Roger as well and based on my experience, he teaches you Audit in a way that you can understand it,but skips a lot of details. When you try another test bank, you come to the realization that there are so many little details he has skipped that you end up scoring in the low 70s. Becker on the other hand, do not help you understand Audit,but they force you to memorize every single detail.

Which other test bank are you using besides Rogers?

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

[swilk]

Barcelona, thanks for the reply.

I definitely feel Roger helps understand the entire process/concept and ties everything together nicely, but he does skip details. I am mainly using Roger's questions and the program's on-line practice quizzes. I have also begun doing some Wiley CPA Exam Review questions from the 2013 edition, which I borrowed from a co-worker. Sometimes I feel good about the material, but lately, after taking some practice quizzes, I don't feel so confident. I can't afford to postpone the exam, so I'm going to just go for it. I just wish I was scoring better.

AUD - 90 (2.26.2015)
BEC - 76 (5.4.2015)
REG - 79 (8.31.2015)
FAR - 76 (2.22.2016)

Roger and Ninja MCQ FTW.

[Martin]

Im taking the exam on the 27th,and Im just pounding MC questions from Ninja and Wiley. The best tip I can give is to do as many MC questions from Wiley as you can, I think they are harder than Roger's test bank. They also go into details that Roger did not cover.

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

[willpassby2014]

lot of guys here giving it on 2/27. i am also giving my audit on 2/27. last 2 attempts i got 74…ughhhhh. hoping to get through this time. i can write a audit book by now but still some mcq's are challenging. last 2 attempts i am strong in sim but weak in mcq. so pounding on mcq

BEC Passed
FAR Passed
AUD Passed
REG Passed

[Martin]

willpassby2014, I also keep hearing that the simulations from Audit are easier than the MC questions, so I guess you are living proof of that. Dont be surprised if you get a 90 this time around. i have seen many people doing that jump after two fails. Good Luck to us all, I need a life soon.

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

[willpassby2014]

Thank you. I wish you good luck too. Hopefully it does not snow on Friday in NJ.

BEC Passed
FAR Passed
AUD Passed
REG Passed

[swilk]

Is it worth getting the Ninja MCQ given my exam is in 3 days?

note: I also work full time at a CPA firm in NY. So, I don't have 3 full days of studying/cramming to do. Just nights…. late, late nights hahaha.

AUD - 90 (2.26.2015)
BEC - 76 (5.4.2015)
REG - 79 (8.31.2015)
FAR - 76 (2.22.2016)

Roger and Ninja MCQ FTW.

[jackaroe]

40 HOURS till exam…

Q. If inherent risk is increased, then audit risk is automatically increased (provided nothing happens to CR and DR)?

AR = IR x CR x DR

A. I guess that AR would automatically go up to balance the equation.

[swilk]

@jackaroe you are correct in your equation and basic assumption that AR would increase.

Just keep in mind that IR cannot be affected by the actions of the auditor or client. IR deals with the susceptibility of various accounts being misstated. For example, cash is more prone to theft than PP&E, so its IR is naturally higher. I find that generally speaking, IR is what it is (depending on industry and nature of account). However, CR can be controlled by the client and can fluctuate depending upon the internal controls designed, implemented and maintained. Finally, DR can be controlled by the auditor. For example, the auditor can perform more tests of details and increase the nature, timing and extent of testing to increase DR, and achieve the desired level of AR, which is the ultimate goal.

AUD - 90 (2.26.2015)
BEC - 76 (5.4.2015)
REG - 79 (8.31.2015)
FAR - 76 (2.22.2016)

Roger and Ninja MCQ FTW.

[Author]

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