[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

[TheHoundThatRides]

@Veggie

Based on the question, I'd say D is the most correct. Shouldn't the client be kept mostly in the dark about what the auditor might consider a materiality level?

BEC - 78 (August 2015)
FAR - 80 (November 2015)
AUD - 73, 67. (Ok I gotta confess I was even more lazy this time around)
REG - August 27th, 2016

[marqzho]

Go get the Ninja MCQ. I don't have any good advice but keep doing MCQ. I was average and trending at around 75% with non repeated questions. Revise basic J/E. Take one or two day for the textbook reading, page by page. Utilize the AL during the exam for SIMS.

REG 90
FAR 95
AUD 98
BEC 84

[marqzho]

PCAOB AU Section 337.09 said

“Inquiry need not be made concerning matters that are not considered material, provided the client and the auditor have reached an understanding on the limits of materiality for this purpose.”

So A is correct

but under the same section .12 said
“A lawyer may appropriately limit his response to matters to which he has given substantive attention in the form of legal consultation or representation. Also, a lawyer's response may be limited to matters that are considered individually or collectively material to the financial statements, provided the lawyer and auditor have reached an understanding on the limits of materiality for this purpose. Such limitations are not limitations on the scope of the audit.

So D is correct

See this stuff is so much fun 🙂

I would go for D personally since the question is asking about the lawyer “response” to auditor, I think .12 would be a more appropriate explanation. If the question is asking about the inquiry “to” the lawyer, I would go for A and apply .09.

REG 90
FAR 95
AUD 98
BEC 84

[Spartans92]

Woah Marqzho! that is an amazing score for audit you got there… going for the EWS? HAHA good luck with REG.

BEC- PASS

[marqzho]

Spartans92

I can't get EWS. I had a trial run for FAR and got a 59. Plus even without that trial and I get a 99 in BEC, I would have an avg of 95.50. EWS needs at least 95.51 🙂

REG 90
FAR 95
AUD 98
BEC 84

[TheHoundThatRides]

Could someone provide a sample SIM and the thought process for how to go about using the AL for it? I remembered this tip on my last attempt but I could not think of a way to apply the AL towards my questions. Is the AL able to be used for pretty much everything for those of you who know how to use it?

BEC - 78 (August 2015)
FAR - 80 (November 2015)
AUD - 73, 67. (Ok I gotta confess I was even more lazy this time around)
REG - August 27th, 2016

[marqzho]

TheHoundThatRides

It all depends on what you have been asked. Use it as a backup, not the main source. Your knowledge is the main source to answer the SIMs. I was lucky, I got a question which basically ask me to find the right section and “copy and paste” to the right column. I can tell on the spot I was 100% correct on that question because of the AL. Without it, I could only guess most of the choices. Maybe they designed the question this way to test if I can research the answer from AL.

REG 90
FAR 95
AUD 98
BEC 84

[Spartans92]

they bumped up the average again?

BEC- PASS

[marqzho]

It is always “above” 95.50. I saw a member here got 95.50% and he doesn't qualify for the Award. But hey 🙂 No way in hell I can get a 99 in BEC.

REG 90
FAR 95
AUD 98
BEC 84

[lolo]

@marqzho, That's great mate! you do well with your exams, I wish you get another bombing score!

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

[lolo]

My first CPA exam Experience! Took AUD today, I would assess the difficulty of each section by how much I know about the questions in each section because nothing will be hard if you know about everything! So in accordance to my experience things went hard, easy, difficult and medium. overall MCQs were medium in difficulty but they require a lot of time, it took me 2:22 hours to finish the MCQs I was marking the ones that I am not sure of and got back to them once again which took a lot of time (about 30 min). As for the Sims they took 1:38 mins, they were pretty easy-medium but I had 2 research tasks one of which was so difficult I could not find I hope its the pretested Sim!

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

[RE2PECT]

So I got my performance report yesterday and as I expected, was stronger on MCQ and weaker on Sims. I'm assuming one of my 2 research sims was pretest because I know I got both of them right. The AL was useless other than the research questions and I had a couple FAR related ones. I'm hoping for my retake I'll be able to use the AL, but now I'm nervous about this new DRS sim.

FAR: 75 Roger & Ninja (notes/flashcards/audio/MCQ)
AUD: 73, 81
BEC: 71, retake 8/29
REG:

[Anonymous]

1st time poster, long time lurker. Taking AUD on 6/1. Been cramming for the last 3 weeks to get ready. Finished Becker lectures and questions and now doing Ninja MCQs & Sims until test time.

[NYaccountingstudent]

If you could bring in one page of notes to the audit exam what would you write on it?

As soon as i sit down for the test I plan on writing a bunch of stuff down onto the Notes paper we are given. What should i write on it?

I am kind of weak with assertions so i plan on writing some stuff down for that. Idk what else to write down

[lolo]

I wrote all main components of all the reports in audit, but that wasn't that much useful!

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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