[jeff]

Welcome to the Q4 2016 CPA Exam Study Group for AUD.

If this is your first post in the study group – please post your target exam date (just the time frame to preserve your anonymity), and your past history with this exam (optional, of course).

[pharaoh]

@forem004 – Troubled questions are the questions that you answered wrong not a separate set of hard questions.

FAR 8/2016
AUD 1/2017
REG TBD
BEC TBD

[JesseD]

Too the test this morning…these 7 days are gonna be long!!!!

[Anonymous]

Hi Chantel,

I noticed you said you got 73 in AUD twice, can you identify what part of the exam was your weakness or what part you believe you did not perform as well on? I took AUD last week and even though I believe I did ok on the SIMs I am very doubtful about the McQs.

I have been having constant nightmares and a gut feeling that I will be scoring in the lower 70's. How did you deal with coming so close to passing twice but merely missing? The psychological effect anticipating my score release is draining.

[Chantel]

That is what I was looking for! Thank you!

F - F ('12), 90 (Dec '15)
A - F ('12), 73 (Feb '16), ? (July '16)
R - 87 (May '16)
B -

[Chantel]

Thanks.

There are a TON of MC that are best, most likely, least likely. I seriously despise them.

F - F ('12), 90 (Dec '15)
A - F ('12), 73 (Feb '16), ? (July '16)
R - 87 (May '16)
B -

[CPYay]

@cpaMD86

I watched the Roger BEC Intro video last night and looked over the course breakdown (16 hours of video). Kind of relieved given the volume of FAR and AUD haha…

I'll probably begin tomorrow night and get through the first few sections of Chapter 1. I typically watch the videos and take notes… then reread my notes. I won't do any MCQs until I've finished all the videos.

How's your study going? Are you applying the same study method to BEC as you did for FAR and AUD?

[cpaMD86]

@CPYay

Yes, pretty much – I initially watch all of the lectures while taking some notes. After that I just hammer Ninja MCQs until I've seen them all at least once. I also take notes during this period. I'll continue doing questions until test day. Right now I am also working Roger's IPQ just because these questions can be all over the place, but a lot of them do overlap, which is fine. I'll be going back to the book to look at IT and COSO just to make sure I don't miss any granular details.

FAR: 9/3

[pharaoh]

An independent auditor must have which of the following?

A.A preexisting and well-informed point of view with respect to the audit

B.Technical training that is adequate to meet the requirements of a professional

C.A background in many different disciplines

D.Experience in taxation that is sufficient to comply with generally accepted auditing standards

FAR 8/2016
AUD 1/2017
REG TBD
BEC TBD

[GiniC]

@Pharoah

Hmmm…

A is definitely out, as that is the opposite of objective
B has potential, though “technical” seems wrong
C does not sound familiar at all
D One of the general GAAS standards is Training and experience – so this has potential too.

My “gut” says D

[Forem004]

I don't like technical either but B sounds right.

[pharaoh]

It is B.
I was actually thinking B r C but then I had to read it again to pick B

I ruled D out because it says experience in “Taxation”

FAR 8/2016
AUD 1/2017
REG TBD
BEC TBD

[pharaoh]

Another one

How do the scope, procedures, and objective of an engagement to examine the design and operating effectiveness of an entity’s internal control over financial reporting compare to those for obtaining an understanding of internal control and assessing control risk as part of an audit?

A.Scope: Similar; Procedures: Different; Objective: Similar

B.Scope: Different; Procedures: Similar; Objective: Similar

C.Scope: Different; Procedures: Different; Objective: Different

D.Scope: Different; Procedures: Similar; Objective: Different

FAR 8/2016
AUD 1/2017
REG TBD
BEC TBD

[Forem004]

Ooooh, I did this one quite a few times and finally understand it! D!

[pharaoh]

Correct it is D

FAR 8/2016
AUD 1/2017
REG TBD
BEC TBD

[Chantel]

I will also add, the first time around I had almost an hour left when I finished the exam, the second time I finished when I had about 5 minutes left. The second guessing and stress really got to me.

F - F ('12), 90 (Dec '15)
A - F ('12), 73 (Feb '16), ? (July '16)
R - 87 (May '16)
B -

[Author]

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