[jeff]

Welcome to the Q1 2017 CPA Exam Study Group for AUD. 🙂

[mperez102204]

Hello everyone,

I have just hit the review phrase in Ninja MCQ. I am about to begin the Wiley questions this week, but i wanted to see if anyone can guide me to simulations that require journal entries. when I took the test in December, I believe I failed because I had 3 journal entry questions, which I was naive and did not expect. Well, not this time.

I have Ninja Simulations and Wiley test bank, is there any questions directly related to adjusting journal entries to beginning balances or even just problems that may help me put the pieces of the puzzle together?

Thanks!

[Forem004]

@sulamain..c?

@mperez…there's a list that details all the simulations somewhere on the ninja forum. I can't remember which page it's on. But it's titled just that

[sulaiman]

Correct

[Forem004]

@perez I printed it but can't find it. If I can find it at home tonight I'll try to get it in here but I don't think I can load a pic. If you can't find it and I do maybe i can bring it to work and scan for you tomorrow. Just give me an email

[mperez102204]

@Forem

[Forem004]

6-4

Under the ethical standards of the profession in the US, which of the following circumstances would impair independence in the audit of an issu or but would not impair inedependence in tHe audit of a nonissuer?

A. Firm performing audit also designed and implented the clients financial info system

B. Audit firm provided a loan to the client during the prior year.

C. Lead audit partner has worked on the engagement for ten years

D. Audit firm has an immaterial direct financial interest in the client.

[sulaiman]

—

[Forem004]

One of the incorrect answers to a question in my Becker book says litigation not related to an audit engagement for an immaterial amount does not impair independence.

So what if in the same situation, it is material?

[Forem004]

6-5

Audit documentation should:

A. Not be permitted to serve as a reference source for the client

B. Not contain critical comments concerning mgmt

C. Show that accounting records agree it reconcile with the financials

D. Be considered the primary support for the financials being audited

[mperez102204]

Would it be D? – what program are you using?

[Forem004]

6-4 is correct

Mperez, which question are you referring to?

I'm using Ninja and a prior year Becker book. Those questions are from the Becker book

[mperez102204]

I was referring to the question that I answered. I have Ninja as well and I have not seen that one yet.

Thank you for the questions 🙂

[jeff]

Test Your Might.

To keep the answers all in one place, please post in the FB thread to enter.

[Forem004]

6-4 or 6-5 perez?

[Forem004]

And the last two questions are from my Becker book

[Author]

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