[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

[If I can, u can too!]

@capri1032 oh wow, i have never see a question on independence with % associated. u just need to know direct or material indirect interest will impair your independence.

with regard to your 2nd question, your book should have reference to each topic. i'd say read those over at least once. i read each type of test at least once for each cycle (revenue, ar, expenditure, pp&e) and it helped me a lot. write them if things don't stick to you. i feel nasba isn't passing me b/c i don't have a firm grasp on i/c and substantive procedures.

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).

[cdn]

@hokinizeu – direct and indirect, I understand it – but this “%” believe me I also need to know – if you know what I mean by that 😉

[EuroAddict]

@TRYING

Audit of a public co. is always an integrated audit. Audit of non-issuer can be integrated or separate. GAS you have to give a written report on your scope of I.C.

-----------------------------
BEC - 77, 03/2015 (first try)
FAR - 79, 05/2015 (second try)
REG - 83, 12/2015 (first try)
AUD - 84, 03/2015 (first try)

I got 99 problems but the CPA ain't one.

[The.Underdog]

omg so sick of cpa MCQ. ugg

FAR - 86
AUD - 93
REG - 8/31/16
BEC -84

[rsg149]

Okay guys,

I just took my first exam (AUD) on monday the 22nd. I only used becker to study, i listened to lectures and did tons on MCQ's. I scored anywhere from 50%-90% on different parts of the final practice exams on becker.

The actual exam I felt really decent on the MC questions, i breezed through them in less than an hour and a half. The second and third teslets were most definitly more difficult than the first, but I had done SO many MC's on becker, none really bothered me that much. The sims were a bit more dificult (only had 1 research), I felt decent on 3-4 and not as well on the remaining ones.

I AM FREAKING OUT. the scores arent supposed to post untill march 9 if im correct. I know it can be a craps shoot sometimes with AUD from what ive read, but if anyone has anything that might calm my nerves, it would be much appreciated.

[Nessie]

Good luck rsg. It sounds like you did well. Key is that the 2nd and 3rd were more difficult. I remember writing REG using Becker. I felt the MCQ got extremely hard at the end. I guessed a few of them and check back at home and got them right. I felt I only got about 1/2, or less of the sims correct, maybe even less than that and bombed the research, and still ended up with 88.

If I had to put $$ on it, I think you passed 🙂

REG Aug 20/15: 88
AUD: Feb 29/16: 80
FAR: Jun 10/16: 80
BEC?

Becker self-study, Becker Final Review & NINJA MCQS

[AccountantPinkHair]

What is the difference between an integrated test facility and a parallel system? I'm constantly getting questions involving these wrong and I can't get them straight.

AUD - 72, 81
FAR - 71, 78
REG - 60, 78
BEC - 60, 71, 71

IF I FALL, I WILL GET BACK UP. IF I AM BEATEN, I WILL RETURN.

[EuroAddict]

Parallel – when auditor reprocesses clients LIVE data using auditors own software and compares results

Integrated – client doesn't know it's happening. Processing TEST data to DUMMY data.

-----------------------------
BEC - 77, 03/2015 (first try)
FAR - 79, 05/2015 (second try)
REG - 83, 12/2015 (first try)
AUD - 84, 03/2015 (first try)

I got 99 problems but the CPA ain't one.

[AccountantPinkHair]

Thanks EuroAddict!

AUD - 72, 81
FAR - 71, 78
REG - 60, 78
BEC - 60, 71, 71

IF I FALL, I WILL GET BACK UP. IF I AM BEATEN, I WILL RETURN.

[The.Underdog]

I also believe integrated test facility is like a dummy subsidary in the clients IT. That way to isolate test data.

FAR - 86
AUD - 93
REG - 8/31/16
BEC -84

[If I can, u can too!]

Issuer audit question. SIM #71

The auditor's prior-year report on internal control included an adverse opinion. The client has since modified internal controls. No material weaknesses were found in the current year. Which is the correct response?

A. Express an unmodified opinion on the internal controls.
B. Express an unmodified opinion on the internal controls and add a paragraph on whether a previously reported material weakness in internal control continues to exist.

Answer is A. Express an unmodified opinion on the internal controls.

why isn't it B per PCAOB No. 4 Appendix A?

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).

[EuroAddict]

@HOK – Hm, good Q.

I think b/c they were asked to audit mgt assertion on the prev I.C. So to me there wouldn't need to be an additional paragraph since the report is for that assertion.

So why have to add an extra paragraph stating such if that's what your report is doing in the first place?

-----------------------------
BEC - 77, 03/2015 (first try)
FAR - 79, 05/2015 (second try)
REG - 83, 12/2015 (first try)
AUD - 84, 03/2015 (first try)

I got 99 problems but the CPA ain't one.

[If I can, u can too!]

guess your approach would work on the above question, still don't get it but no time to research. arrrgh!

getting nervous here, i feel ninja questions don't really prepare me well b/c i'm getting high scores (trending 96%) but when i solve questions on my wiley book, i get hammered! i hope i'm on the right track. don't let the ninja trending score fool you, keep plugging and solving and solving until you can't solve no more. cpa journey is a test of will.

GL everyone taking the exam tomorrow!

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).

[EuroAddict]

Well the reason people say to crush the MCQ is that the SIMS are really just extensions to them. Just really a longer, more detailed version of a MCQ.

-----------------------------
BEC - 77, 03/2015 (first try)
FAR - 79, 05/2015 (second try)
REG - 83, 12/2015 (first try)
AUD - 84, 03/2015 (first try)

I got 99 problems but the CPA ain't one.

[If I can, u can too!]

@EuroAddict well of course!

question: what is the threshold for Single Audit Act? i'm seeing $750K or above in Ninjas but $500K or above from 2014 lectures i have. did it increase in 2015? does anyone know?

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).

[Author]

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