[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

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

[Theodore]

Thanks Dab. I had trouble with those implicit/explicit questions until i understood the content of the reports

Tomorrow will be a quick review of all the important topics and the not so important ones, followed by a massage. I hope that relaxes me lol

FAR: 66, 76!
REG: 76!
AUD: 72, 9/7/2016
BEC: TBA

Don't Stop When You Are Tired, Stop When You Are Done.

[JT]

lol… cool.

Me, on the other hand, am the type that studies up until the exam! lol… literally!

If you notice anything good during your review, feel free to share.

REG-80-1X
BEC-80-1X
FAR-73-1X
FAR-75-2X
AUD-September 2016

[Theodore]

I tend to do that too and probably get back to another quick review after the massage. Make sure to get plenty of sleep. this has been a huge factor on my two fails (FAR and AUD) none of the questions make sense.

Will do!

FAR: 66, 76!
REG: 76!
AUD: 72, 9/7/2016
BEC: TBA

Don't Stop When You Are Tired, Stop When You Are Done.

[samer]

Can someone hrlp me on this:
Can we make reference to service auditor or not?! Becker says in A3 that we can if th report is modified, then in A5 it says no refernce to service corp auditor is allowed!

[Anonymous]

@samer this is the joy of audit – you only can/will do some things if other things have happened. so in the case of a specialist what you just wrote is correct – if you are giving an unmodified report then no reference to the specialist is included; if you are giving a report that has an emphasis of a matter or other matter, then you can refer to the specialist's findings if they are part of the matter you are mentioning. I suppose it'd be the same case if the report was qualified/adverse and the specialist's findings are supporting the reason you are modify the report.

@rosy0407 anything back from jeff?

my test is at 1pm today. I'm not sure I'll ever feel ready for this test, but I am looking forward to having it over.

[mckan514w]

GOOD LUCK today allaborad!!!!

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

[samer]

@allaboard
Wish all the luck, mine is tomorrow.

Nevermind my below comment, i dnt want to dustracte you, just posting it in case anybody has an answer.

my question was regarding referring to service corp auditor, not specialist. i think referral to SOC auditor in audit engagements is different from those for integrated audit engagements.

[HoosierCPA]

Good luck to everyone who's taking AUD this week! I'm anxiously waiting for Thursday night for the release. This is the first exam I have ZERO idea where my scores going to land. Could be 60 could be 90 and anywhere in between (hell it could be a 30 lol). AUD is hard to gauge because you could have thought you answered a bunch correct with 100% confidence but if you misread 1 word in that question it changes the whole dynamic of the question which results in a whole different answer. I tried my best to read every question multiple times to avoid this but you just never know!

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

[Theodore]

@allaboard not yet :/ Good luck! give it your best!!

@samer I see what you're talking about. A3 says no reference for an unmodified opinion and reference for a service auditor modified opinion. and A5 says no reference to service auditor report in aditor's report. Maybe only when the service auditor provides a modified opinion? Not sure :/

FAR: 66, 76!
REG: 76!
AUD: 72, 9/7/2016
BEC: TBA

Don't Stop When You Are Tired, Stop When You Are Done.

[Theodore]

Pop-Quiz:

If an auditor is able to extend auditing procedures to gather sufficient evidence about consistency, should he refer to the consistency in the report?

FAR: 66, 76!
REG: 76!
AUD: 72, 9/7/2016
BEC: TBA

Don't Stop When You Are Tired, Stop When You Are Done.

[Theodore]

The information below was taken from the bank transfer schedule prepared during the audit of Fox Co.'s financial statements for the year ending December 31, 20X1. Assume that all checks are dated and issued on December 30, 20X1.

Disbursement Date Receipt Date
Check Bank Accounts per per per per
No. from to Books Bank Books Bank

101 National Federal Dec. 30 Jan. 4 Dec. 30 Jan. 3
202 County State Jan. 3 Jan. 2 Dec. 30 Dec. 31
303 Federal American Dec. 31 Jan. 3 Jan. 2 Jan. 2
404 State Republic Jan. 2 Jan. 2 Jan. 2 Dec. 31
Which of the following checks might indicate kiting?

A. 101 and 303
B. 202 and 404
C. 101 and 404
D. 202 and 303

I can Never get this one right. does anyone have a better way of explaining this? or breaking it down for me?

FAR: 66, 76!
REG: 76!
AUD: 72, 9/7/2016
BEC: TBA

Don't Stop When You Are Tired, Stop When You Are Done.

[aatoural]

@Rosy0407- Good luck tomorrow!

@dtatham10 – Im right there with you. I must say the best thing that happened to me was starting to move the day after my exam, it has kept my mind busy and a little less freaked out. but it starting to hit me now. Thursday night anything can be, even a 30 like you said. 🙁

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

[Larry]

Dtatham, that's exactly how I feel. No idea what it's going to be.

Rosy,

You would have to check to find if the receipt bank date is dated earlier than the date drawn per bank.
Look at check 202. It's hard to tell because of the formatting looks weird but I know because the receipt date was 12/30 and the drawn date was 1/2 or 1/3.

REG - 82
FAR - 78
BEC - 76
AUD - 8/27/16

[JT]

Good luck allaboard. Not sure what time zone your in but you may already be out of the testing center.

Rosy, as papogator24 mentioned, you need to look at the dates to see if one is dated before the other. I think the answer is b.

Also, what's the answer to your pop quiz? Is it “no”. I think consistency is only referenced when it's an issue and it is not consistent. If it is consistent, then you don't mention it. I think that's what your question was referencing.

REG-80-1X
BEC-80-1X
FAR-73-1X
FAR-75-2X
AUD-September 2016

[Anonymous]

Just got home! I feel better than the first time around when I got a 71…so hopefully that's good…?

MCQ –
I didn't BREEZE through the MCQ like I was on Ninja, but I'll blame that on seeing repeat questions in Ninja. I had plenty of time to stare, read, re-read, and review. There were still a few questions where they went alot further into the details than the review information did – or maybe I just didn't cover it all that well. The pension questions – my ruling is that those are test-test questions. All in all, I felt OK about the MCQ – even the questions where the answer wasn't immediate I think I was able to walk my way through. Of course there were the questions where as soon as I walked out the right answer popped in my head. Fingers crossed Ninja trending is right!

SIMS –
1 standard research
1 DRS – once I kind of figured out what I was doing it didn't seem that bad, but it's audit and audit doesn't always make sense to me, so maybe I totally messed it up.
2 of the sims seemed easy which then had me on edge that I was messing them up. I went back over them a couple times to make sure I wasn't screwing it up
2 were just kind of fumbling my way through. Once I was done I think I did OK, but it was kind of like the DRS: what I think logically makes sense doesn't necessarily translate into what makes sense in audit procedures.

[Author]

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