@Progress, I hear if you get up at 4:15 or 4:30 am every day and stop doing activities at night you have like 2 or more hours a day to study plus studying on breaks and after eating meals. For me, I try to get up well before 7:15pm or 7:30 at night and go to bed at 7am. I hope that helps. I know I'm just some retail guy and do taxes “pro bono,” so I'm not likely to be taken seriously, but the guy that said 4:30 is “like death” and to get up and do this every day like a “diet” was in public accounting and did all 4 in 3 months. Hope, I can give you some decent ideas. I believe you can do it! With those 15-20 hours a week, I hear 6 weeks is ideal. Still some can do this is 4. That's how I did BEC, 4 weeks and it worked. I believe in having as much as possible in your short-term memory and to always be studying. Best wishes however you do it!
Is a disclaimer of opinion considered a modified opinion? Sorry, it's been a few months..
An auditor may refer to and identify an auditor’s external specialist in the auditor’s report if the
A Auditor expresses a disclaimer of an opinion as a result of the specialist’s findings.
B Auditor wishes to indicate a division of responsibility.
C Specialist lacks objectivity with regard to the client.
D Specialist’s work provides the auditor greater assurance of reliability.
My answer: D Specialist’s work provides the auditor greater assurance of reliability.
This answer is incorrect.
The reference is solely to clarify the reason for the modification of the repor
Correct Answer (Gleim adapted 2016): Auditor expresses a disclaimer of an opinion as a result of the specialist’s findings.
This answer is correct.
The auditor may refer to an auditor’s external specialist only if the opinion is modified. A modified opinion is a qualified opinion, adverse opinion, or a disclaimer of opinion. The reference is made because it is relevant to understanding the modification. An auditor’s report with such a reference should state that it does not reduce the auditor’s responsibility (AU-C 620).
AU-C 620.14-15
Reference to the Auditor’s Specialist in the Auditor’s Report
.14
The auditor should not refer to the work of an auditor's specialist in an
auditor's report containing an unmodified opinion.
.15
If the auditor makes reference to the work of an auditor's external
specialist in the auditor's report because such reference is relevant to an un-
derstanding of a modification to the auditor's opinion, the auditor should indi-
cate in the auditor's report that such reference does not reduce the auditor's
responsibility for that opinion. (Ref: par. .A44)
My apologies on being a little distant. Thank you for your support. For me life is happening (e.g., marriage, immigration, leading small group, pre-marital counseling, stocking Christmas toy freight in a retail store, Hanukkah road trip, EFIN application, business cards, networking, etc.). Happy holidays, everyone!
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