[jeff]

Welcome to the Q3 2016 CPA Exam Study Group for AUD.

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

[aatoural]

LOL. I took it a couple of years ago and literaly the only thing I retained from it was that PCAOB was public companies. I guess saying “peek a boo” got stock in my head. I don't have audit experience either and even though we work with auditors I think the only people that get the most of that experience are the Controller and the Finance Director.

🙁 🙂 trying out emojis 😉

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[HoosierCPA]

I'm in the same boat, no audit experience. I've been scoring relatively well on all my questions 80-90% however I feel like most my answers are educated guesses! I never thought I would miss calculative questions!

FAR - 78
REG - 72,74,71...please just go away REG nobody likes you!
BEC - 82
AUD - Aug 16

[Lashifty]

Anyone else get repeat questions on testlets? I got like 3 of the same questions on each testlet so I am worried I did pretty bad. Also, I got SOOOOOO many employee benefit plan questions (like 10 of them) and barely any transaction cycle ones.

I feel pretty naive that I didn't study everything nut rather focused heavily on what others said.

[mckan514w]

@lashifty- this was me and my BEC exam that I sat for last week– I swear they asked me the same question 6 different ways in three different testlets so needless to say I am not feeling confident about that score at all. I've read that you are not suppose to read too much into this but of course I can't help but do so…

and they ask me why I drink...

FAR- 61-next time I'll ask for lube instead of a calculator
REG-75- Never been so happy to see such a low grade
BEC- 8/11
AUD- 9/2

[Lashifty]

@mckan514w- I thought blew it on FAR and ended up surprised with passing so I have a feeling of confidence from that, but I also know anything is possible lol the amount of anxiety these exams give is too damn high!

[aatoural]

That is a first I never heard of repeat question on exam testlet. Maybe they were pretest? Good luck anyways hope you passed!

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[.]

Does anyone know why:

when you do a regular review of financial statements you don't try to understand the entity's internal control.

But when you do a review of interim financial statements you have to understand the entity's internal control.

FAR - June 2016 - 88
REG - July 2016 - 89
AUD - Aug 2016 - review phase currently
BEC - Sep 2016 -

Wiley CPA Excel & Ninja MCQ

[HoosierCPA]

@circadian I think the distinction is a review of a financial statement is an SSARS engagement, understanding internal controls is not necessary.

Review of interim FS is part of a normal full audit ( I know that's not the technical term, I'm drawing a blank) which falls under all the rules of a standard audit. When you do an annual audit of a company you will do interim reporting every quarter and then a year end audit which is much more in depth. However both interim and year end require the understanding of internal controls.

FAR - 78
REG - 72,74,71...please just go away REG nobody likes you!
BEC - 82
AUD - Aug 16

[aatoural]

This might seem like the dumbest of all questions but I just got a brain freeze. Attest engagements is for both issuers and non-issuers?

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[HoosierCPA]

@aa Yes, that is correct. SSARS is private only. SSAE issuers and non issuers.

FAR - 78
REG - 72,74,71...please just go away REG nobody likes you!
BEC - 82
AUD - Aug 16

[aatoural]

Thanks dtatham10. I wish I could find a table that summs up everything together because Becker has tables but separate from each other.

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[aatoural]

Sorry guys I keep comming up with little questions, trying to sum up everything to make sure I have touched up on all the topics.

How can we tell if preparing adjusting/correcting entries can be considered under Preparation engagement under SSARS or not under SSARS's applicability? Becker book mentions that auditor must apply judgement on this, but if we were to get this questiion in a MCQs format, how could we tell the differnce?

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[Anonymous]

Since no one else has chimed in, I'll try…

I could be wrong and I don't have Becker – but based on what you have written here, I would interpret that to mean auditor may or may not prepare the AJE/RJE and it's up to the auditor if they are going to prepare them or not. Kind of like it's up to the auditor to set the scope of an audit or if they want to do interim testing.

I don't think there is any other kind of engagement that the auditor would/could be preparing AJE/RJE – or am I just not thinking?

[Zyx]

Can anyone confirm if I understand correctly.
detection risk low, perform more substantive test and larger sample size of substantive test?

REG: 77 x2
BEC: 81 x3
FAR: 68 retake 10/1
AUD: 8/27

[HoosierCPA]

Just took my first becker practice exam–TERRIBLE…65%. People on here weren't lying when they said it kills your confidence! Then again, I don't know why I act surprised, I've always bombed these things–Becker seems to surprise you with totally different questions for the practice exams–why they don't put similar questions in the homework is beyond me. Anyway, 12 days to right the ship and get that 75!

FAR - 78
REG - 72,74,71...please just go away REG nobody likes you!
BEC - 82
AUD - Aug 16

[Author]

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