[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/

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

[Anonymous]

Thanks! Here's one.

A modification of the auditor’s report on a review of interim financial information is necessitated by which of the following?

A. Lack of consistency.

B. Inadequate disclosure.

C. A substantial doubt about the entity’s ability to continue as a going concern.

D. Use of another auditor’s report.

[Anonymous]

@LilEngine on investment. It's B, keywords, “management intention”.

[LilEngineThatCan]

hahahahaha @CPAhopefull11 I spent the morning doing a solid bulk of them. Trusttt me I'm in the same boat! Some of them I was surprised though…I thought Id get a 0% but some how got a 70% …is it sad that id smile?? goood god with this testttt

[Anonymous]

@CPAHOPEFULL11 That's better than not doing SIMS at all. For me doing SIMS is just practice so I'll can familiarize myself on how the questions are structures. Knowing the concept is still the key.

[LilEngineThatCan]

@cpaby2015 is it B

[LilEngineThatCan]

@cpaby2015 good call. I struggled with that one

[Future Ninja]

@CPABY2015 – is it B?

A modification of the auditor’s report on a review of interim financial information is necessitated by which of the following?

A. Lack of consistency.

B. Inadequate disclosure.

C. A substantial doubt about the entity’s ability to continue as a going concern.

D. Use of another auditor’s report.

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

[Future Ninja]

@cpaby2015 – what is the answer to your posted question?

An entity prepares its financial statements on its income tax basis. A description of how that basis differs from GAAP should be included in the

A. Introductory paragraph of the auditor’s report.

B. Notes to the financial statements.

C. Management representation letter.

D. Auditor’s engagement letter.

is it B?

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

[Anonymous]

@Future Ninja. Yes B for both questions.

[Future Ninja]

did you know that:

if the underlying historical financial statements of each constituent part of the combined

entity have been AUDITED at year-end and REVIEWED at an interim date,

the practitioner may perform an examination or a review of the pro

forma financial information at year-end but is limited to performing a

review of the pro forma financial information at the interim date.

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

[Anonymous]

Better now, getting some 70s and 80s now. I love the audit reports and internal control questions as those areas have troubled me a bit.

[LilEngineThatCan]

Nice! Practice builds confidence =) I started to hammer the MCQ I havent seen yet and went down to an average score of 67% on Performing ='( i still have about another 100 questions to do but I feel so drained now

[Future Ninja]

keep posting questions @cpaby2015, @cpahopeful, @ LilEngineThatCan, @ Mariam almas, @ tarheelgirl.

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

[Anonymous]

Here's my last question for tonight, then off to bed.

The auditor’s inquiries of management regarding required supplementary information (RSI) should be directed to the judgments made concerning

A. Rights and obligations.

B. Measurement and presentation.

C. Relevance and validity.

D. Accuracy and objectivity

[Future Ninja]

@cpaby2015 – is it B?

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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