[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]

C?

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

[Lucci]

C~

[CPA2B_NJ]

Correct!

FAR - 50, 78
BEC - 67, 72, 75
AUD - 72, 80
REG - 70, 85

To God be the glory! Forever, amen!

NJ License

[trish_1234]

question Soooooo confused …..

In my book it says that substantive tests of cash tests the BS

So why is the assertion of accuracy listed for Cash (1. compare remittance to deposits JE and ledger postings 2. compare GL with FS

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

[se7en.14]

in becker A3, is the info presented for NonIssuers? unless it says for PCAOB Issuers in the pass keys?

Thanks

[ladybossxo]

Trish!! Is the sample size 105?

CPA Exams Done.

[CPA2B_NJ]

***Did you know***

If the integrity of the entity's management is suspect, the auditor can conclude that a financial statement audit cannot be conducted.

FAR - 50, 78
BEC - 67, 72, 75
AUD - 72, 80
REG - 70, 85

To God be the glory! Forever, amen!

NJ License

[trish_1234]

You got it lady!

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

[CPA2B_NJ]

***Did you know***

In performing the audit, the auditor may request direct assistance from the internal auditors. This direct assistance relates to work the auditor specifically requests the internal auditors to perform to complete some aspect of the auditor's work. For example, internal auditors may assist the auditor in obtaining an understanding of internal control or in performing tests of controls or substantive tests, consistent with the guidance about the auditor's responsibility.

FAR - 50, 78
BEC - 67, 72, 75
AUD - 72, 80
REG - 70, 85

To God be the glory! Forever, amen!

NJ License

[blueberrycpa]

Ninja MCQ #735

Which of the following matters would an auditor most likely include in a management representation letter?

A.

Communications with the audit committee concerning weaknesses in internal control

B.

The completeness and availability of minutes of stockholders' and directors' meetings

C.

Plans to acquire or merge with other entities in the subsequent year

D.

Management's acknowledgment of its responsibility for the detection of employee fraud

The Answer given is B but shouldn't the answer be D?

FAR- TBD
BEC - 75
REG - 76
AUD- TBD

[ladybossxo]

A CPA concludes that the unaudited financial statements on which the CPA is disclaiming an opinion are not in conformity with generally accepted accounting principles (GAAP) because management has failed to capitalize leases. The CPA suggests appropriate revisions to the financial statements, but management refuses to accept the CPA's suggestions. Under these circumstances, the CPA ordinarily would:

a. Restrict the distribution of the CPA's report to management and the entity's board of directors.

b. Describe the nature of the departure from GAAP in the CPA's report and state the effects on the financial statements, if practicable.

c. Issue a qualified opinion or adverse opinion depending on the materiality of the departure from GAAP.

d. Express limited assurance that no other material modifications should be made to the financial statements.

CPA Exams Done.

[CPA2B_NJ]

@ladybossxo – C?

FAR - 50, 78
BEC - 67, 72, 75
AUD - 72, 80
REG - 70, 85

To God be the glory! Forever, amen!

NJ License

[trish_1234]

@kickass… one of the requirements of an audit is that management understands to give access to all information and ppl, management acknowledges its responsiblility for internal control and Financial statements etc ….

With auditing the answer to the question is most often the best answer… In this answer choices the best answer is availability of information

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

[trish_1234]

@ lady c

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

[CPA2B_NJ]

@kickass – I'm confused with that too! I'd like to hear someone explain it to me in 5th grade terms. Ins't the letter from management to the auditor? Why would the auditor prepare it? AU-333 would point to answers B and D combined, no?

https://www.aicpa.org/Research/Standards/AuditAttest/DownloadableDocuments/AU-00333.pdf

FAR - 50, 78
BEC - 67, 72, 75
AUD - 72, 80
REG - 70, 85

To God be the glory! Forever, amen!

NJ License

[Author]

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