[jeff]

Welcome to the Q2 2016 CPA Exam Study Group for AUD.

Some BLITZ videos to help your exams: https://www.another71.com/ninja-blitz

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

[marqzho]

is compilation an attestation engagement?

REG 90
FAR 95
AUD 98
BEC 84

[ELMON]

marqzho @

Yes its an attest engagement , because its requir independent , also its assurance engagement because it gives a limited assurance .

i hope that clear ur doubt

Good Luck

FAR- 88 MAY 2015
REG- 83 OCT 2015
BEC- 80 Jan 2016
AUD- 79 May 2016
NH
I am Done

Ninga MQ & SIMS Is the Best Way to Pass

[ELMON]

marqzho @

i am sorry i was thinking u ask about review , compilation is not attest or assurance engagement because its not require independent nor gives a limited assurance

sorry , that is applicable for review not compiltion

FAR- 88 MAY 2015
REG- 83 OCT 2015
BEC- 80 Jan 2016
AUD- 79 May 2016
NH
I am Done

Ninga MQ & SIMS Is the Best Way to Pass

[lolo]

Compilation is an attest engagement because you are gonna have to give a report, but its not an assurance engagement because you wont give any opinion about anything!

@Elmon,its an absolutely attest engagement, how come you say otherwise!!

My Nick name is sunshine, but the fact is I have not been in touch with it since I started this CPA exam! IT HURTS

AUD - ✔ Passed Becker self study!
BEC - ✔ Passed Becker self study!
FAR - ✔ Passed Becker self study!
REG - TBD

[ELMON]

Sunshine@

I disagree with u Because attest engagement require independent , and compilation not require independent so compilation is not attest engagement . please review that statement

FAR- 88 MAY 2015
REG- 83 OCT 2015
BEC- 80 Jan 2016
AUD- 79 May 2016
NH
I am Done

Ninga MQ & SIMS Is the Best Way to Pass

[lolo]

I am pretty sure of what I say! what material do you use for study?

My Nick name is sunshine, but the fact is I have not been in touch with it since I started this CPA exam! IT HURTS

AUD - ✔ Passed Becker self study!
BEC - ✔ Passed Becker self study!
FAR - ✔ Passed Becker self study!
REG - TBD

[ELMON]

Sunshine@

you are not right , you know why ? because attest engagement include Auditor Opinion , which require Independent while Compilation can be done without Practitioner independent

Examination , Review , Agreed Upon , and report in compliance with low and regulation = All attest engagement = Auditor Opinion and independent is required

I am Using baker , willy and Ninga MQ

FAR- 88 MAY 2015
REG- 83 OCT 2015
BEC- 80 Jan 2016
AUD- 79 May 2016
NH
I am Done

Ninga MQ & SIMS Is the Best Way to Pass

[lolo]

Great, you said you use Becker can you open Becker A2 page 24 read about compilation where it is clearly indicted!

Also I would like you open page 77 in A2 and read the horizontal line of the table where it indicates the compilation as an attest engagement!

My Nick name is sunshine, but the fact is I have not been in touch with it since I started this CPA exam! IT HURTS

AUD - ✔ Passed Becker self study!
BEC - ✔ Passed Becker self study!
FAR - ✔ Passed Becker self study!
REG - TBD

[ELMON]

Sunshine@ Ya I check it and it is saying its attest engagement , but i do not know how it's attest while no opinion is given or no independent is required ! for the exam may i mark that but i am not convinced , any how it's a great discussion

thanks , Sunshine

FAR- 88 MAY 2015
REG- 83 OCT 2015
BEC- 80 Jan 2016
AUD- 79 May 2016
NH
I am Done

Ninga MQ & SIMS Is the Best Way to Pass

[ELMON]

Sunshine@ Ya I check it and it is saying its attest engagement , but i do not know how it's attest while no opinion is given or no independent is required ! for the exam may i mark that but i am not convinced , any how it's a great discussion

thanks , Sunshine

FAR- 88 MAY 2015
REG- 83 OCT 2015
BEC- 80 Jan 2016
AUD- 79 May 2016
NH
I am Done

Ninga MQ & SIMS Is the Best Way to Pass

[lolo]

Yea you are welcome! I am happy to have the discussion too!

We can be friends whats your facebook?

My Nick name is sunshine, but the fact is I have not been in touch with it since I started this CPA exam! IT HURTS

AUD - ✔ Passed Becker self study!
BEC - ✔ Passed Becker self study!
FAR - ✔ Passed Becker self study!
REG - TBD

[Spartans92]

Sometimes it's hard to wrap our minds around Audit since some of these concepts are the way it is. Compilation is in fact an attest engagement even though it does not require independence. Compilation requires a report and is subjected to the SSARS standards if I recall correctly.

HAHA Sunshine!

BEC- PASS

[lolo]

@Spartans92, that's right and sometimes we have to follow SSAE for engagements that requires that …

My Nick name is sunshine, but the fact is I have not been in touch with it since I started this CPA exam! IT HURTS

AUD - ✔ Passed Becker self study!
BEC - ✔ Passed Becker self study!
FAR - ✔ Passed Becker self study!
REG - TBD

[marqzho]

If an auditor is obtaining an understanding of an issuer’s information and communication component of internal control, which of the following factors should the auditor assess?
A. The integrity and ethical values of top management.
B. The philosophy and operating style of management to promote effective internal control over financial reporting.
C. The classes of transactions in the issuer’s operations that are significant to the issuer’s financial statements.
D. The oversight responsibility over financial reporting and internal control by the board or audit committee.

Why C???

REG 90
FAR 95
AUD 98
BEC 84

[lolo]

@marqzho, because it is the only option that can be listed under information and communication component! all others pertains to control environment component of internal control!

My Nick name is sunshine, but the fact is I have not been in touch with it since I started this CPA exam! IT HURTS

AUD - ✔ Passed Becker self study!
BEC - ✔ Passed Becker self study!
FAR - ✔ Passed Becker self study!
REG - TBD

[Author]

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