[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

[ladybossxo]

@CPA: That's what I thought too. Tricky question though.

The correct answer is B.

Choice “b” is correct. If the client refuses to accept the CPA's suggestions, the CPA should add a paragraph modifying the disclaimer to describe the nature and effect of the departure from GAAP.

Choice “c” is incorrect. If the CPA issues a disclaimer of opinion, no assurance is expressed and no opinion is rendered. A qualified or adverse opinion provides a level of assurance beyond that contemplated by a disclaimer.

CPA Exams Done.

[trish_1234]

@ lady what!!!! lolol ….. OMG I hate auditing…. never heard of a disclaimer if departure from GAAP

my bad you said b … nothing to do with disclaimer….

So I am studying this stuff way too much my brain is fried. I cant even think straight or read

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

[blueberrycpa]

yes and to a very similar question from gleim

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

A. All concentrations of credit risk not expected to change materially within the next year.

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

C. Communications with the audit committee concerning weaknesses in internal control.

D. Management’s acknowledgment of its responsibility to detect employee fraud.

And the answer here is D..

I am so confused.

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

[trish_1234]

you guys

I think if the one in gleim had an answer choice of “The completeness and availability of minutes of stockholders' and directors' meetings” maybe it would be that….

Just thinking that this is one of those … best answer choice …..

Also, sometimes these questions are wrong… we saw with martin and roger material

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

[trish_1234]

CPA who performs primary actuarial services for a nonissuer client normally is precluded from expressing an opinion on the financial statements of that client if the

A. CPA prepared an actuarial report using assumptions not approved by the client.

B. Actuarial services are a major determinant of the pension expense.

C. Fees for the actuarial services have not been paid.

D. Actuarial assumptions used are not in accordance with GAAS.

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

[ladybossxo]

@kickass: D is correct because it is the acknowledgment of management's responsibility for the DESIGN, IMPLEMENTATION, AND MAINTENANCE OF INTERNAL CONTROL to prevent and detect fraud.

CPA Exams Done.

[ladybossxo]

Trish!! Is it B?

CPA Exams Done.

[ladybossxo]

Trish! When are you writing your exam??

CPA Exams Done.

[CPA_Focused]

Does anyone recommend studying an entire auditing text before using BECKER?

[trish_1234]

@ Lady correct 🙂

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, I want to take it in the first window, I haven't set the date yet… I am not confident, I feel like I dont know more stuff than before so I am scared. When are you taking it?

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

[Anonymous]

can anyone explain the concept of performance materiality in simple terms

[Steve M]

Has anyone taken the exam yet this window? When are others planning to take it? Would be great to hear some perspectives (not to discredit the integrity of the exam) from anyone who has taken it. I'm going to try to schedule this afternoon for 4/13.

AUD (2/23/15) 72, (4/13/15) 75
BEC (TBD) Late Q2 / Early Q3?
FAR (TBD)
REG (TBD)

Strategy: CPA Excel with Ninja Notes/MCQs to Supplement

[trish_1234]

If specific information that implies the existence of possible noncompliance with laws and regulations that could have a material effect on the financial statements comes to an auditor’s attention, the auditor should next

A. Report the matter to an appropriate level of management at least one level above those involved.

B. Seek the advice of an informed expert qualified to practice law as to possible contingent liabilities.

C. Apply audit procedures specifically directed to ascertaining whether noncompliance has occurred.

D. Discuss the evidence with the client’s audit committee, or others with equivalent authority and responsibility.

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

[ladybossxo]

C

CPA Exams Done.

[Author]

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