[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]

Please explain:

An internal auditor's work would most likely affect the nature, timing, and extent of an independent CPA's auditing procedures when the internal auditor's work relates to assertions about the:

A. existence of contingencies.

B. valuation of intangible assets.

C. existence of fixed asset additions.

D. valuation of related party transactions.

[monikernc]

The answer is C because verifying the addition of fixed assets is something that the internal auditors can do that the external auditor can rely on. Being able to do so will reduce the amount of work to be done in the audit. Unlike the other choices it requires little judgment or an assessment of the action of others. The external auditor would audit the other choices themselves and not rely on the internal auditors to do so.

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

[cdn]

@monikernc – Thanks, I think I just wasn't understanding what the question was asking. Your answer makes it clear. 😉

[norseman88]

The countdown is real!!!!

[marqzho]

Thanks Claudia408. It helps !

Anyone know if I can still use 2013 material for AUD? any big change in recent year?

REG 90
FAR 95
AUD 98
BEC 84

[If I can, u can too!]

@marqzho mmm, i was using 2014 material; 2013 should still be ok but do try to read as much pronouncements as possible when you're solving problems and also explanations at the bottom of your questions. it's a great way to learn.

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]

Holy sh*! Passed AUD and now DONE with CPA exams!

Hope the rest of the 1st Q crew made out just as good.

-----------------------------
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.

[monikernc]

hokinizeu, what's up with you?

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

[If I can, u can too!]

moniker! congrats, you passed BEC! i passed audit as well. thank God i'm done!!!!!!!!!!!!!

i really appreciate all your support and guidance on Audit moniker! i read every single answer explanation as you've said and they helped!

EuroAddict congrats man!

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]

Yahooooooo!!!! Hokinizeu!!!! Take your wonderful and patient wife out for dinner. Take a vacation!!! You did it!!! So happy for you and glad you are done!!

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

[Conquer]

I woke up this morning at 3:30 to use the bathroom and stupid me checked the score. A 74….it hurts, especially this being my last section. Needless to say, I didn't go back to sleep. I immediately applied for another NTS and prepared a study schedule. I'm like a zombie at work today.

[If I can, u can too!]

moniker, thank you! You too. You even did it on the first try!

Conquer, so sorry to hear that. that's a horrible, horrible feeling to get a 74. i can't imagine how it'd feel… i had rec'd 72 3 times (3 times!) in the past so i sort of know how you feel. take a deep breath, and pound them again. i commend your relentlessness.

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]

Congratulations to those who passed.
I am with the rest who failed and keep on studying …..

[kearym]

@cpari1032 I feel your pain!

[rminrx8]

So i took my exam on 2/22. I had mixed feelings about the SIMS, and I believe that this section is where I came up short.

Any advice on how to tackle on the SIMS?

On exam day I felt good about the MQs but my SIMS were very difficult , tried using the AL but I just could not get the response/help to help me on the 2 sims that I had problems with.

It is busy season for me but I would definitely look to put 20 hours a week until the end of April because my REG expires on 4/30. Possible exam date 4/25

Extremely upset because I am terrified of the fact that my credit will expire and I can take 2 steps back in a blink of an eye.

[Author]

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