[jeff]

Free Study Planner, Notes, Audio, Flashcards: https://www.another71.com/cpa-exam-study-plan/

Free CPA Exam Survival Guide: https://www.another71.com/cpa-exam-survival-guide/

[Anonymous]

Service Organization

Good find, so it is in the intro paragraph?

[Future Ninja]

yep. it's in the intro par. AU-C 508.74

AUD - 79 (expired) retaking July 28,2016
FAR - 76 expiring July 31, 2016
BEC - 85
REG - 74,74,74,74,59,70,

[Future Ninja]

Service Organization is in AU-C 402 and I think AT 801. AT 701 is MD&A.

AUD - 79 (expired) retaking July 28,2016
FAR - 76 expiring July 31, 2016
BEC - 85
REG - 74,74,74,74,59,70,

[Future Ninja]

Service Organization reports.. hmmm let me check

AUD - 79 (expired) retaking July 28,2016
FAR - 76 expiring July 31, 2016
BEC - 85
REG - 74,74,74,74,59,70,

[Anonymous]

I thought analytical procedures were a risk assessment procedure? In Roger's book, it has risk assessment procedures as (AIIO) analytical procedures, inspection, inquiry, and observation. Then on Ninja MCQ it has:

Risk assessment procedures to obtain audit evidence about the design and implementation of relevant controls may include:

inquiring of entity personnel.

observing the application of specific controls.

inspecting documents and reports.

tracing transactions through the information system relevant to financial reporting.

Inquiry alone, however, is not sufficient for such purposes.

[Anonymous]

I thought analytical procedures were a risk assessment procedure? In Roger's book, it has risk assessment procedures as (AIIO) analytical procedures, inspection, inquiry, and observation. Then on Ninja MCQ it has:

Risk assessment procedures to obtain audit evidence about the design and implementation of relevant controls may include:

inquiring of entity personnel.

observing the application of specific controls.

inspecting documents and reports.

tracing transactions through the information system relevant to financial reporting.

Inquiry alone, however, is not sufficient for such purposes.

[Future Ninja]

true or false?

While flowcharts may be a useful tool in documenting the effectiveness of an entity's internal controls, they are not required for an audit in accordance with generally accepted auditing standards

AUD - 79 (expired) retaking July 28,2016
FAR - 76 expiring July 31, 2016
BEC - 85
REG - 74,74,74,74,59,70,

[Anonymous]

True, no one thing is required for documentation as you can use multitude of different techniques.

What was the answer to your question yesterday about may a CPA report significant deficiencies separate from material weaknesses?

[Future Ninja]

@cpahopeful

Correct statement = The auditor may separately communicate those significant deficiencies considered to be material weaknesses.

AUD - 79 (expired) retaking July 28,2016
FAR - 76 expiring July 31, 2016
BEC - 85
REG - 74,74,74,74,59,70,

[Future Ninja]

@cpahopeful – any suggestions what to do the day before sitting for aud?

AUD - 79 (expired) retaking July 28,2016
FAR - 76 expiring July 31, 2016
BEC - 85
REG - 74,74,74,74,59,70,

[Anonymous]

Well, I was planning on only studying for a bit today and just relaxing but that didn't happen LOL. I got caught up in some stuff and had to delay my studying until now.

I wrote my own notes for each section in a notebook and then a few weeks before the test I modified those notes on a blank printing paper. So I went over those notes today, did about 10-15 simulations, and knocked out 150+ MCQs. Are you taking Friday off the day before the exam?

[Future Ninja]

eiikkkkk. No Friday off for me. Request was denied due to year-end audit. small firm auditors are doing fieldwork.

AUD - 79 (expired) retaking July 28,2016
FAR - 76 expiring July 31, 2016
BEC - 85
REG - 74,74,74,74,59,70,

[Anonymous]

Is your test at least in the afternoon on Saturday?

[Future Ninja]

Morning @ 8.

AUD - 79 (expired) retaking July 28,2016
FAR - 76 expiring July 31, 2016
BEC - 85
REG - 74,74,74,74,59,70,

[Future Ninja]

auditor gave me a hor** joke so I can remember effect to sample size easily. I want to share it with you guys. it's effective. ^_^.

AUD - 79 (expired) retaking July 28,2016
FAR - 76 expiring July 31, 2016
BEC - 85
REG - 74,74,74,74,59,70,

[Author]

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