[jeff]

Welcome to the AUD CPA Exam study group for July & August 2018 exams. 🙂

Please introduce yourself & when you’re taking your exam (approximate timeframe).

AUD Study Group Links and Resources:

1. NINJA Monthly – Full AUD Course for $67/mo
2. How to Study for AUD with NINJA Only
3. How to Pass AUD in 20 Days
4. How to Retake AUD After Failing
5. Video: Study Advice for AUD
6. CPA Reviewed Podcast
7. CPA Exam Score Release Dates
8. NINJA MCQ Trending vs Actual AUD Scores
9. I Passed the CPA Exam!
10. I Passed AUD!
11. NINJA AUD SIMS List by Topic
12. Free Downloads: NINJA AUD

[El]

@rahee I didn't notice any changes. The review course I use covers all 2018 topics so I may have seen one but it didn't register.

Does anyone else notice that questions are often asked twice? Not sure how fair that is but I suppose if you know the answer it is a free point.

[setmefree]

Is the representation letter require to issue compilation report?

[famh110]

@El..I saw a repeat question in the BEC exam a while back but don't recall seeing a repeat question last time I tested for Auditing

@Setmefree-No. Engagement letter is required but not the representation letter

[setmefree]

@famh110, thanks for the clarification

[ct516]

QUESTION:

What is the difference between substantive analytical procedures and analytical procedures?

[El]

@ct516 There are three different times in an audit that analytical procedures can take place, during the planning of the engagement (required), substantive tests (optional), and the overall review (required). The substantive analytical procedures are used during a low risk audit to improve the efficiency of the audit and reduce the amount of test of details.

[Josh]

Hi, AUD Ninja's. I'm preparing for AUD and got my NTS for this and REG while I await FAR results. I'm planning on being in a Becker LOL class and using Becker materials in addition to Gleim, Ninja and other materials. I usually plan on spending time in audios at my work and in my car, although my wife and daughter sometimes prefer music for some reason? I hope we learn and grow and pass this asap. Good luck, everyone!

[cottonkandi]

Took far a week ago, I think I failed, but moving on to AUD. Studying with Becker.

[Josh]

@cottonkandi I felt the same when I took FAR last. I've noticed others talking about the sims. Those were pretty challenging for me. Don't give up, though. Sometimes we learn more from the challenging ones?

[setmefree]

Please help, I thought the control risk have inverse relationship with the sample size. So, increase in control risk will lead to decrease in sample size. What am I missing?

How would increases in tolerable misstatement and assessed level of control risk affect the sample size in a substantive test of details?

A.

Increases in tolerable misstatement and assessed level of control risk would increase the sample size.

B.

An increase in tolerable misstatement would increase the sample size; an increase in assessed level of control risk would decrease the sample size.

C.

An increase in tolerable misstatement would decrease the sample size; an increase in assessed level of control risk would increase the sample size.
Incorrect
D.

Increases in tolerable misstatement and assessed level of control risk would decrease the sample size.
You answered D. The correct answer is C.

[Benjilo]

I just took Audit this morning. Three questions from Q2 2018 were on the exam. Try and answer all Jeff's Simulations and you will be fine on the exams.

[Benjilo]

I took Audit today. Some of my takeaways are: Try and complete all Jeff's 83 simulations and you will be fine with the simulations part. I had three Sims from Q2, 2018 exam appearing on this one too. Know your revenue cycle, AR, Inventory and sampling. As I said if you are able to do all the sims that Jeff have posted, then you are in good shape.

I finished the MCQ's within an hour so I had three hours to finish the sims. I had one research question.

AUD – 74, Retook on 7/16/18

FAR – 92

REG – 82

BEC – 83

I passed FAR, REG and BEC and failed AUD with a Becker book and CPAreviewforfree. I bought Ninja monthly subscription two weeks ago. I studied Audit with Ninja MCQ, becker book and CPAreviewforfree. I think Ninja MCQ and Simulations prepared me well for AUD this time.

I took two weeks to prepare for AUD. I studied 5 hours a day during the week and 14 hours a day saturdays and Sundays. I work full time in public accounting.

[setmefree]

Thanks for the heads up, 3 sim were from Q2? you must got a really good testlest. I will be taking Audit on Friday my first time. I am almost done with the Ninja MCQ, have not start the Sim yet. Is the AICPA Sim comparable to the actual exam? and how is the Ninja MCQ comparable to the actual exam?

[Benjilo]

Yes I had 3 sims from Q2. I think two of them were the same wording or very close. The AICPA sims were comparable but Ninja Sims were very similar. There were two sims on the exams that looked like photocopies from Ninja Sims. All exams are different but try and finish all Ninja sims and you will be in a good shape. All my Sims on the exams were Sims that Ninja has. Know your FOB shipping point and destination as well as your internal control sampling.

I didn't see no FAR related sims on my exams. Stick with Ninja and you will be fine. Try and finish the the first and second testlets within an hour and 20 mins so you have enough time for the sims.

[setmefree]

Thanks a lot for the tips. BTW, ur Far score is really impressive.
Maybe your audit score will be even more impressive afterall

[Author]

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