[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/

[Tarheelgirl]

That chapter seems to get everyone. All I know is…practice, practice, practice MCQs and write down notes on the questions you get wrong.

FAR - 46, 79 (7/8/14)
AUD - 56, 59, 2/23/15 3rd times a charm!
BEC - 69, 74 Really??
REG - April, I hope. Fingers crossed!

[Anonymous]

Got it, I've got two weeks until my exam. I just finished the last section this morning. I already went through about 850 of the Wiley MCQ and averaging 65% so I need more work. I think I'll get the Ninja MCQ for AUD so I can just keep drilling away.

[Tarheelgirl]

NINJA MCQ is great! I would highly recommend it…I saw some VERY similar questions on my first AUD exam from NINJA MCQ. Just saying.

FAR - 46, 79 (7/8/14)
AUD - 56, 59, 2/23/15 3rd times a charm!
BEC - 69, 74 Really??
REG - April, I hope. Fingers crossed!

[wongl0786]

Someone please help.

My regulation will expire on 2/24/2015. I have last one which is Audit.

Question : Do i have to receive my score for Audit before 2/24/2015 ? or my last day to take the test is 2/24/15 (if i could pass)

[kappa1032]

@wong – the last day to take the test is 2/24/15.

Just got through the gov't auditing section in A6 – is it me or did they just breeze through everything and didn't try explaining it? Does that mean it's not tested that much?

FAR - 81
REG - 74, 87
AUD - 88
BEC - 88

Finally.

“The only guarantee for failure is to stop trying”
― John C. Maxwell

[Anonymous]

Take your AUD test on or before 2/23/15. It does not matter if you receive your score before your REG expires.

Because in all honesty, why do we have to work around the AICPA and their slow batch grading process when it can easily be done in real time with results shown right away (except BEC WC).

[willpassby2014]

In performing an audit of internal controls over financial reporting, the auditor uses:

A.

the general standards applicable to an audit of the financial statements.

B.

audit standards specifically designed for an audit of internal controls.

C.

attestation standards applicable to PCAOB standards.

D.

auditing standards established by the IASB

BEC Passed
FAR Passed
AUD Passed
REG Passed

[jackaroe]

@willpassby2014 – A? I'd rule out C (client isn't an issuer) and D (IFRS doesn't require). There are audit procedures (not standards) that are specifically designed for IC (bye bye B). So I'd go with ‘A'.

[willpassby2014]

you are right. But i answered C since i thought integrated audit is done only for issuer . Any thoughts on my answer.

BEC Passed
FAR Passed
AUD Passed
REG Passed

[jackaroe]

The question doesn't mention that the client is an issuer – so PCAOB wouldn't be in an answer. Integrated audits are not required for non-public companies unless some reg requires it. AT 501 covers audits (called ‘examinations') for non public companies – PCAOB 5 covers audits for those that SOX requires to have.

[Anonymous]

Yep, it uses attestation standards if it is an examination, but not for PCAOB in this case. I also missed that one a few weeks ago answering C.

[mariam almas]

Prior to commencing field work, an auditor usually discusses the general audit strategy with the client's management. Which of the following details do management and the auditor usually agree upon at this time?

a.

The minimum amount of misstatements that may be considered to be significant deficiencies in internal control.

b.

The specific matters to be included in the communication with those charged with governance.

c.

The schedules and analyses that the client's staff should prepare.

d.

The effects that inadequate controls may have over the safeguarding of assets.

AUD: 81 (Done)
REG: Currently studying
FAR: TBD
BEC: TBD

NH

[Anonymous]

C

[Anonymous]

Yep, this goes under the planning and supervision portion of fieldwork.

[mariam almas]

well done, the auditor would likely discuss with management any assistance desired from client staff. This is part of establishing an understanding with the client.

AUD: 81 (Done)
REG: Currently studying
FAR: TBD
BEC: TBD

NH

[Author]

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