[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

[amandafaith15]

Hey Ninjas!

I'm in the process of working my way through the Ninja notes and Wiley CPA Excel videos before I start practicing MCQs. I got a 73 on my first attempt and am retaking Jan. 6th.

I see a lot of posts on this forum about retaking AUD and how to study and the general answers all seem to include “know the audit process”. I feel like none of the material I study is presents audit as a process, it more focuses on planning, evidence, sampling, reports, etc…

My question: what would you say the “audit process” is?

Thanks!

REG -73 (8/2015) 81 (10/2015)
AUD - 73 (11/2015) 84 (1/2016)
BEC - 84 (2/2016)
FAR - 77 (6/2016)

[FAR_WARS]

@Amanda:

An a-ha moment I had that the review materials do not seem to touch on is that the 10 GAAS standards are essentially all of the steps.

The general standards are like a pre-req:
-training and proficiency
-independence
-prof care

The fieldwork standards are the first steps:
-Planning and Supervision
-Internal Controls (obtain an understanding of IC and assess RMM)
-Evidence (obtain audit evidence by performing tests of controls/substantive tests)

Reporting standard are the final steps (actually issuing the audit report)
-Consistency
-Disclosures
-Opinion
-GAAP

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

[monikernc]

nice spot on the steps FARWARS!!! and don't forget that ninja mcq is setup in that same basic order so if you start at the beginning with the questions they will walk you through it for the most part.

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

[amandafaith15]

Thanks @FAR_WARS!

That makes sense!

REG -73 (8/2015) 81 (10/2015)
AUD - 73 (11/2015) 84 (1/2016)
BEC - 84 (2/2016)
FAR - 77 (6/2016)

[Pete]

@Dan where is this question from ? what course ?

[danner]

@peter – It's from the Ninja MCQ. I somehow screwed up and read the wrong solution though. “A” makes sense to me now.

FAR - 74 (7/20/15), 81 (10/12/15)
AUD - 72 (11/30/15), 81 (1/18/16)
BEC - 87 (6/6/16)
REG - 8/8/16

[Pete]

is the compilation assurance engagement? I know The compilation is Attest Engagement but I think is not Assurance engagement, right?

[FAR_WARS]

from: https://www.aicpa.org/advocacy/state/downloadabledocuments/attest-services-chart-color-nonfillable.pdf

A compilation is not an assurance engagement.

In some states a compilation is an attest engagement (only a CPA can provide). In other states a compilation is a non-attest engagement (anyone can provide).

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

[cdn]

I got an email that new CPA changes are starting 07/01/2016?

[for425]

@capri1032

https://www.another71.com/cpa-exam-forum/topic/is-it-true-2017-changes-coming-in-2016

FAR - 72, 81
BEC - 76
REG - 78
AUD - 61 (1/24), Retake (6/6)

Materials: Becker
FAR Retake: + Wiley TB
REG & AUD: + Ninja MCQ

[cdn]

Thanks for425

[EuroAddict]

Hope everyone's studying is going good. I will complete the beckers video for chapter 2 tonight (holy crap is that a LONG chapter!).

Keep on keepin' on.

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

[CPAlife04]

How are folks doing with their NINJA MCQs? I am aiming for 100 each day. I am behind a bad, but hope to catchup this weekend.

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!"

[Pete]

I am reading standards and at the same time doing mcqs from wiley and ninja mcqs
hope to pass the audit

[for425]

For those who are already though Becker A3:

Could someone help explain the mnemonic “IM A CPA,” I am completely lost.

What is the goal of it? When do you decide on what the inherent and control risks are going to be?

FAR - 72, 81
BEC - 76
REG - 78
AUD - 61 (1/24), Retake (6/6)

Materials: Becker
FAR Retake: + Wiley TB
REG & AUD: + Ninja MCQ

[Author]

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