[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]

@ahugemistake I had picked D first … this is y it is not D

Answer (D) is incorrect.

The control criteria are identified in the introductory and opinion paragraphs but not the scope paragraph

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

[okcpa2015]

I'm going with D

FAR - 91
REG - 88
AUD - 98
BEC - 88

[trish_1234]

You guys saw the post I posted of the correct answer? I think my post is taking time to post

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

[trish_1234]

Which of the following is a true statement concerning an attest engagement to examine an entity’s internal control over financial reporting?

A. The practitioner relies on management’s assertion about the effectiveness of internal control.

B. Management relies on the practitioner’s audit in making the assertion about the effectiveness of internal control.

C. The responsible party evaluates the effectiveness of internal control.

D. Management agrees not to include the practitioner’s report in a general-use document.

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

[ladybossxo]

@Trish: Thank you!! Haha I know. Good luck studying! I will check back here once in a while. When are you scheduled to write? My boyfriend can propose to me whenever now. I told him we had to put everything on hold until I pass these exams!! :D:D:D

CPA Exams Done.

[Kikidelivery]

Failed and gonna retake end of this month.

[trish_1234]

@ lady, YAY!!! wedding next for you.

I will be here stressing!!! I still have to call and schedule, I suck so bad at this… I have reviewed half the material so if I really want I could be ready end of next week -_- … seriously sucks this exam, thinking of taking a master class in the fall too short abt 18 credits.

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

[ahugemistake]

Taking mine on the 29th! goodluck kiki!

FAR - 78*
AUD - 66, 79
REG - 73, 76
BEC - 79

[Anonymous]

@trish is it A? The practitioner relies on mgmt. assertion….

[trish_1234]

@ CPA Title

Answer (C) is correct.

As part of engagement performance for both AT 501 and AS No. 5, the practitioner should obtain from management a written assertion about internal control effectiveness.

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

[trish_1234]

I thought A too….

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

[Anonymous]

Oh okay. That was a good question.

Considering that I'm sitting next week, I should know these answers! I have a lot that I need to review.

[ahugemistake]

CPAExcel website not working for anyone else

?

FAR - 78*
AUD - 66, 79
REG - 73, 76
BEC - 79

[Anonymous]

@ Trisha. I don't understand the reason for C. The explanation seems to explain A. Confused

[ahugemistake]

Is this question accurate?

Nonprofit organizations are required to have a single or program-specific audit under OMB Circular A-133 if the organization expends:

A.

$300,000 or more in a year in federal awards.

B.

$500,000 or more in a year in federal awards.

Incorrect C.

$750,000 or more in a year in federal awards.

D.

$1 million or more in a year in federal awards.

You answered C. The correct answer is B.

Nonprofit organizations that expend $500,000 or more in a year in federal awards shall have a single or program-specific audit conducted for that year in accordance with the provisions of OMB Circular A-133.

I thought they had updated the threshold to 750K?

FAR - 78*
AUD - 66, 79
REG - 73, 76
BEC - 79

[Author]

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