AUDIT in July – How different is it really?

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  • #177329
    Anonymous
    Inactive

    I am currently studying with Becker 2012 material (and updates from their Website).

    Is it really necessary to update everything? Will the changes be just one chapter or is it the entire Audit part?

    Thanks

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  • #411073
    rjcpa
    Participant

    Just the rporting module is changing from what I understand.

    FAR - 10/3/12 - 86
    BEC - 11/27/12 - 70 1/14/13 - 81
    AUD - 4/4/13 - 87
    REG - 7/8/13 - 80

    #411074
    Anonymous
    Inactive

    Thank you!

    Just found out that I failed (73) and therefore I was wondering if I had to learn completely different stuff for my 2nd attempt.

    Pretty annoying…

    And I just saw that I posted this in the wrong area… could someone please move it?? thx

    #411075
    Jennifer241
    Member

    “Starting July 1, 2013, the AICPA’s Clarified Statements on Auditing Standards (SAS) will be tested on the Audit exam. The AICPA re-drafted the auditing standards for non-issuers to make them easier to read, understand and apply and to converge with international standards.”

    There are several changes to not only the reporting module but several other. “Unqualifed Opinion” is now called “Unmodified Opinion”

    The audit report will now have headings which refer to each section, which I think is a good addition.

    Additionally, “explanatory paragraph” is replaced with either an “emphasis-of-matter” or “other-matter” paragraph, with no reference to “special reports.”

    I am wondering if it's going to change the research tab?

    AUD - Jan 9,13 Pass
    REG - Aug 30,13 Pass
    BEC - Oct 26,13 Pass
    FAR - Dec 4,13 Pass

    Licensed CPA in the state of Oregon

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