[Claudia408]

Hi Audit People,

I’ve been trolling the Audit posts and have read that a lot of the Audit SIM answers can be found in the Authoritative Literature. Besides the SIMs that asks you to find a certain paragraph in the AL, how does it help with other types of SIMS, like management assertions (valuation & allocation etc), or identifying the substantive test for a specific audit objective?

Also, it sounds like you actually have access to the AL while completing a SIM that does not ask you to look for a specific paragraph??? Any feedback on how to utilize the AL in other types of SIMs would be appreciated!

BEC - 75 (3x)
AUD - 78 (3x)
REG - 67, 66, Aug 1
FAR - 54, Sept 8

[Anonymous]

I'm taking Audit next week and I'm wondering the same thing!

[Thrawn]

WIth my test (from feb) I was able to look up answers to probably 4 of my sims at least in part (including the research obviously). I wont go into detail, but just remeber than some of the lit provided on the exam includes examples of things, or descriptions which can help you to think through a problem.

BEC 87 Feb 14
REG 84 Apr 14
FAR 82 Nov 14
AUD 86 Feb 15

[Anonymous]

Don't rely on the AL for the SIMs, you still need to know the material. When I took my AUD exam I was only able to find answers through the AL for the research question and partially 1 other SIM and I was pretty sufficient navigating the AL. I will say that with the 1 other SIM I was trying to answer I actually changed part of the answer to what I interpreted the AL as to say and was not actually the correct answer to the SIM question which dawned on me while I was driving home. So, just be careful when looking through the AL and read carefully. I did still manage to make a high passing grade so all is well that ends well.

[Claudia408]

@ egiorgi – are you making the connection with management assertions (valuation & allocation etc), or identifying the substantive test for a specific audit objective? I only asked this Q to see if it would be of any help on these topics bc it's my weak area… I'm struggling with it and I have 1 week left to get it down! Anyone else have tips?

BEC - 75 (3x)
AUD - 78 (3x)
REG - 67, 66, Aug 1
FAR - 54, Sept 8

[Anonymous]

Not my best area either. I've just doing a ton of MCQ hoping that things will click

[Zuly]

Definitely helpful for SIMS on audit reports. Before exam, try to take the time to know where those are located so you're not scrambling trying to find them and the clock is ticking during the exam.

FAR - (11/01/14) 71 (02/07/15) 79
AUD - (04/30/15) 86
BEC - (07/21/15) 73 (10/01/15) 75
REG - (11/30/15) 55 (05/19/16) 74

[mjain]

Where can I find audit reports in AL?

[Author]

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