[jeff]

Welcome to the Q2 2015 CPA Exam Study Group for AUD.

World Premier: “Unmodified” (Audit Reports Rap Video) 🙂

Posted by Another71 on Thursday, November 13, 2014

Free NINJA: https://www.another71.com/cpa-exam-study-plan/

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[trish_1234]

@ martin yes D

Look at the explanation … it says this is stated in the intro paragraph of the report but gleim book says its another matter paragraph 🙁 can you make sense of this!

AUD 69, 92 7/15 Gleim and Ninja test bank
FAR sometime in 10/15 Gleim
BEC not taken
REG not taken

[Martin]

According to Roger CPA, and wiley, this is supposed to be another matter paragraph and not at the introductory paragraph. As far as I know, the introductory paragraph is only changed in a qualify opinion when a statement of cash flows is not included. Since the intro mentions all the statements, when you dont include a cash flow, the intro will be altered (qualify).

Through God all things can happen!

“You never fail until you stop trying.”
― Albert Einstein
When I was young, I used to admire intelligent people;as I grow older, I admire kind people.
“Just keep swimming, just keep swimming.”

FAR= 72-84
Audit= 73-82
BEC= 74-75
Reg=77

[trish_1234]

So Ninja is wrong.

AUD 69, 92 7/15 Gleim and Ninja test bank
FAR sometime in 10/15 Gleim
BEC not taken
REG not taken

[Martin]

was it C or D?

Through God all things can happen!

“You never fail until you stop trying.”
― Albert Einstein
When I was young, I used to admire intelligent people;as I grow older, I admire kind people.
“Just keep swimming, just keep swimming.”

FAR= 72-84
Audit= 73-82
BEC= 74-75
Reg=77

[trish_1234]

it was c

but in the explanation this is what was said

c

If the prior-period financials have been audited by a predecessor auditor whose report is not presented, the successor auditor should indicate that fact in the INTRODUCTORY PARAGRAPH of the audit report, along with the date and type (qualified, unmodified, etc.) of the predecessor auditor's report.

Any financial statements presented with the audit report must be mentioned in the audit report for the comparative statements. The auditor does not have the option to ignore the prior year's financials, even if they were audited by someone else. Any amount of assurance (even limited assurance) expressed by the current auditor regarding the prior year's statements would require that audit procedures be performed in order to support that opinion. The current auditor is not required to obtain any representations from the predecessor auditor concerning the prior year's statements.

Terms

AUD 69, 92 7/15 Gleim and Ninja test bank
FAR sometime in 10/15 Gleim
BEC not taken
REG not taken

[Martin]

Like I said before about the qualify opinion, I think is correct. Anyone else?

Through God all things can happen!

“You never fail until you stop trying.”
― Albert Einstein
When I was young, I used to admire intelligent people;as I grow older, I admire kind people.
“Just keep swimming, just keep swimming.”

FAR= 72-84
Audit= 73-82
BEC= 74-75
Reg=77

[trish_1234]

YOu are

AUD 69, 92 7/15 Gleim and Ninja test bank
FAR sometime in 10/15 Gleim
BEC not taken
REG not taken

[trish_1234]

THank you

AUD 69, 92 7/15 Gleim and Ninja test bank
FAR sometime in 10/15 Gleim
BEC not taken
REG not taken

[WANNABE_CPA]

i just finished going through reports on comparative, same question or similar to this one is in becker as well. I agree with C as the right answer but, the mention of Introductory paragraph does not make sense in the explanation. It is clearly written that successor auditor to express opinion on current period only and Other matter paragraph to include certain information.

Introductory paragraph has nothing to do with it.

FAR : 68, 74, 83 Thank you God 🙂
BEC : 78 (8/27) 🙂
REG : 72 ,80 (2/25) 🙂
AUD : 69,67, 07/23

[Martin]

WANNABE_CPA, as if Auditing was not hard as it is, now we have to debate on whether a test bank is right. lol

Is an Auditor allowed to use the results of prior year test of controls in current year's audit?

Through God all things can happen!

“You never fail until you stop trying.”
― Albert Einstein
When I was young, I used to admire intelligent people;as I grow older, I admire kind people.
“Just keep swimming, just keep swimming.”

FAR= 72-84
Audit= 73-82
BEC= 74-75
Reg=77

[ladybossxo]

@Martin: Yes they are as long as they obtain evidence about whether there have been any changes to controls. I remember reading in the book somewhere, it says something like if controls have changed since they were last tested, then the operating effectiveness has to be retested in the current period.

CPA Exams Done.

[ladybossxo]

And I just read the other posts, other matter paragraph is correct not in the introductory paragraph.

For anyone using Becker, in A1-24 there's a list of use required for other matter paragraphs.

2a. (3) states the financial statements of the prior period were audited by a predecessor auditor and the predecessor's auditor report is not reissued

CPA Exams Done.

[NoraU]

If no changes control needs to be tested every third year according to NINJA audio.

BEC 05/12/14 77
REG 08/25/14 82
FAR 11/25/14 80
AUD 02/25/15 72, 05/15/15 98! DONE!!!!!!!!!!!!!!!!!!!!!!

[Martin]

ladybossxo and Nora, how about if in the same question, I throw in PCAOB,you think your answer will change?

Through God all things can happen!

“You never fail until you stop trying.”
― Albert Einstein
When I was young, I used to admire intelligent people;as I grow older, I admire kind people.
“Just keep swimming, just keep swimming.”

FAR= 72-84
Audit= 73-82
BEC= 74-75
Reg=77

[NoraU]

Martin, Yes it will. PCAOB requires an audit of internal control along with an audit of FS.

BEC 05/12/14 77
REG 08/25/14 82
FAR 11/25/14 80
AUD 02/25/15 72, 05/15/15 98! DONE!!!!!!!!!!!!!!!!!!!!!!

[Author]

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