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Considering the recent spike of Audit wrath on the forum, I felt it necessary to make a thread devoted entirely to how much we all hate the auditing section of this exam! While I found a few hilarious threads about the BEC Haters Club, I found no such outlet for Audit and found that to be unacceptable. If you would rather stick your hand down the kitchen sink and hit the disposal, drink milk 8 weeks past the expiration date, or blow dry your hair in the bathtub rather than ever sit for auditing again in your life…welcome home. 🙂
I loathe audit because in audit land it’s perfectly acceptable to be WRONG…ahem, excuse me…misstated. Mind you it’s acceptable for an account can be wrong/misstated, just as long as it’s not “materially misstated” aka “more wrong than a misstated balance which in reality is a wrong number to begin with”. Seriously??? Come on, man. No wonder Audit has the lowest pass rate of all the sections right now!!! In tax land there is no concept of “materiality” and that’s how I like it! Please give me the internal revenue code any day with it’s 1,000,000 rules, regulations, procedures, and guidelines to follow because I like to color in the lines. I like things to be right or wrong, period. No subjectivity in my numbers, please and thank you!!! God bless the Internal Revenue Code!!!!
Now it’s your turn! Why do you hate audit???
REG: 75 DONE 🙂
AUD: 61, 71, 68, 92 DONE 🙂
BEC: 76 DONE 🙂
FAR: 72, 74, 79 DONE 🙂
Licensed Michigan CPA 🙂
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