[jeff]

Welcome to the Q1 2016 CPA Exam Study Group for AUD.

Some BLITZ videos to help your exams: https://www.another71.com/ninja-blitz

[cdn]

Hi, I am also the one that failed AUD.
I have Becker and Ninja MCQ.
I was wondering if I should buy Ninja book just to have a fresh look at everything or I should just stick with Becker? Any advice appreciated.

[swim4life107]

Thanks @FAR_WARS . In Chapter 1, Becker states “Note that compliance with GAAS is mandatory on ALL audit engagements.”

Poorly worded sentence, but the next paragraph (sort of) clarifies it is only for non-issuers.

BEC: 77 (08/20/15)
REG: 85 (10/10/15)
AUD: 59, 78 (01/06/16) NINJA MCQ IS A LIFESAVER!!!!
FAR: 77 (6/8/16)

ALL DONE!!! I AM PROOF THAT ANYONE CAN DO IT.

[rakibhkamal]

I took AUD 3 times, and these were my scores. 73, 73, 70. I really knew my stuff the 3rd time but got a lower score. I keep getting low scores on my SIMS and get high scores on my MCs. I used CPAexcel and the Wiley Test Banks. Now I am thinking about getting Roger CPA. Is anybody else using Roger CPA? And if so how is Roger CPA?

[ruggercpa2b]

I am currently using Roger. Based on your scores you seem to know the material but just missing something. I am planning on my retake and am going to just pound out the questions. I have the Ninja MCQs. My other plan was to get the Gleim Sim Wizard, however, they do not sell it as a standalone anymore which is a bummer. I too need to practice the sims because that has been my downfall the last 2 times.

I would look into the Roger Cram if you really need lectures otherwise I would get another 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.

[rakibhkamal]

@ruggercpa2b – I see. So would you recommend the Interactive Questions for Roger? And if so, do they use the same questions as Wiley? Because I don't want to get it if use the same questions.

[lwether]

Has everyone that is retaking from the December 9th score release received their score report? I have not received mine.

[If I can, u can too!]

@lwether just give them a day or two. i don't think that report is that helpful nor that accurate. just start studying unless you want a break. i'm starting this weekend.

LET'S DO THIS FOLKS!

Licensed CPA since Apr 16
Order in sequence of passing
FAR-71,71,79
BEC-80
REG-72,77
AUD-56,72,72,72,80! Thank you, thank you, thank you Lord!
FAR/BEC/AUD: Becker & Yaeger lectures (Wiley & Ninja MCQs). REG: Becker lectures (Ninja MCQs).

[monikernc]

hokinizeu – are you going to reset your ninja mcq's? copy your detailed progress report into excel before you do. and if you're asking-i think a reset is in order. start fresh after going to see the new star wars movie or some other fantastic distraction.

FAR 7/25/15 76!
AUD 10/30/15 93
BEC 2/27/16 82
REG 5/23/16 88!
Ninja Book and MCQ and the forum - all the way!!!
and a little thing i like to call, time and effort!
if you want things to change, you have to do something different

[SaveBandit]

Do these questions sort of contradict each other? Aren't agreed-upon procedures a type of attest engagement? Why are there restrictions on one but not the other?

A CPA's report on agreed-upon procedures related to management's assertion about an entity's compliance with specified requirements should contain:

A. An acknowledgement of responsibility for the sufficiency of the procedures.
B. A statement of limitations on the use of the report
C. Negative Assurance that the control risk has not been assessed.
D. An opinion about whether management's assertion is fairly stated.

Answer B. The practitioner's report on agreed-upon procedures related to management's assertion about the entity's compliance with specified requirements is intended solely for the use of specified parties.

In an attest engagement, use of the accountant's report should be restricted to specified parties in all of the following situations except:

A. When the criteria used to evaluate the subject matter are appropriate for only a limited number of parties
B. When reporting on an assertion about the subject matter instead of reporting directly on the subject matter.
C. When reporting directly on the subject matter and a written assertion has not been provided.
D. When reporting on an agreed-upon procedures engagement.

Answer B. There is no requirement that the accountant's report be restricted to specified parties when reporting on an assertion about the subject matter instead of reporting directly on the subject matter.

4 for 4

FAR 85
AUD 94
BEC 86
REG 90

[CPAlife04]

@hokinizeu I am also starting my studying this weekend.

I plan to reset my NINJA MCQs and work new questions until I get to the review phase. Once I receive my score report I will read the chapters that I scored weakest.

I am getting excited! I am determined this will happen for me in 2016! I only need to add 3 points …… Just 3 points!

Audit: 11/28/15 (72) April 2016
Regulation: 2016
Financial: 2016
Business: 2016
NINJA

"The CPA exam is not a test of my ability, it is a test of my will. I have the will!"

[FAR_WARS]

@SaveBandit:

Yes. Agreed upon procedures are an attest engagement. Use of an agreed upon procedures report is always restricted. Therefore answer D is incorrect in the second question that you posted. Does that help?

FAR- 80
BEC- 75
AUD- 78
REG- ?

[payaza2000]

Hi guys just confirming that my line of thinking is correct?

If there are inadequate disclosures regarding Going Concern than you would issue an Adverse Opinion?

IF there is adequate disclosures regrading Going Concern you would include an Emphasis of Matter Paragraph (which goes after Opinion?

IF there is significant Going Concern Uncertainty than you would issue a Disclaimer of Opinion?

Questions are: What would be the disclosures you would include to avoid getting an Adverse Opinion with regard to Going Concern? Is there a threshold that if you crossed that you would Disclaim your opinion versus's having an Unqualified Opinion with Emphasis of Matter paragraph? or is this up to the Auditors discretion?

FAR 5/6/2015- 84
REG 8/3/2015 - 87
AUD 10/25/2015- 69 1/20/2016 -75
BEC 2/26/2016- 80

Thank you God

[FAR_WARS]

@payaza:

When a Going Concern doubt exists and is adequately disclosed:
unmodified w/ emphasis-of-matter paragraph that uses the words “substantial doubt” and
“going concern”

When a Going Concern doubt exists and is NOT adequately disclosed:
GAAP issue>>>>Qualified/Adverse

When there is a “significant going concern Uncertainty”
GAAS issue>>>>disclaimer

FAR- 80
BEC- 75
AUD- 78
REG- ?

[SaveBandit]

@farwars

I still don't get it. Unless I'm misunderstanding something.

The first question is saying
A CPA's report on agreed-upon procedures related to management's assertion about an entity's compliance with specified requirements should be restricted.

The second question is saying:
A CPA's report in an attest engagement related to management's assertion should NOT be restricted.

4 for 4

FAR 85
AUD 94
BEC 86
REG 90

[fuyuki]

@ FAR_WARS

Based on my understanding, no disclosure regarding going concern = qualified / adverse (only if it is pervasive)

uncertainties = unmodified opinion while multiple uncertainties = disclaimer

[Author]

Replies