Authoritative Literature help — AU or AU-C?

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  • July 9, 2013 at 10:42 pm #178615
    getthiscpadone
    Member

    When doing the research questions on Becker, I am becoming confused on which version of the literature I should be using. There is the AU-C (U.S. Auditing Standards – AICPA (Clarified) ) and the AU (U.S. Auditing Standards). I have found some answers that fit very nicely and answer the research questions but they are in the AU while Becker is showing the answer from the AU-C.

    How do I know which section I should be using? Only the AU-C?

    For example, Simulation 1.8 — look at AU 9561.02. Seems to work good for me but the answer on Becker is shown in the AU-C.

    FAR - 91
    BEC - 89
    REG - 85
    AUD - 8/6/13

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  • July 9, 2013 at 10:44 pm #425831
    littlenumberrobot
    Member

    For non-issuers, yes only search AU-C. AU is still available because Issuers still follow, as far as I have learned. Haven't practiced any in Wiley TB yet.

    CA CPA - All because of the journey listed below
    -----------------------------------------------------------------------
    FAR - 53('10), 8/25/12 79 PASSED!
    REG - 66('11), 69('12), 12/06/12 77 PASSED!!
    BEC - 58('10), 74('12), 01/05/13 77 PASSED!!!
    AUD - 43('11), 66('12), 69('13), 74('13) 7/29/13 85 PASSED!!!!!

    (Combinations of Roger, Yaeger, Wiley Book, Wiley TB, & NINJA Notes)

    Ethics 90%

    July 9, 2013 at 10:48 pm #425832
    getthiscpadone
    Member

    That makes sense. Thank you for the speedy response!

    FAR - 91
    BEC - 89
    REG - 85
    AUD - 8/6/13

    July 9, 2013 at 10:50 pm #425833
    ganudorm
    Member

    I wish Jeff could confirm this but I think the test is only going to test on AU-C on the research portion… thought I read it somewhere

    July 9, 2013 at 10:56 pm #425834
    getthiscpadone
    Member

    Be careful of the wording guys.

    Just did simulation 1.9 in Becker.. The question states “Super Chief, Inc. issues financial statements” with no other indication as far as a public issuer or not. I perceived this as being a public issuer. Becker still has the answer listed as an AU-C citation.

    Is there any way we can confirm all citations will be from the AU-C?

    FAR - 91
    BEC - 89
    REG - 85
    AUD - 8/6/13

    July 9, 2013 at 11:15 pm #425835
    jeff
    Keymaster

    True – AUD Research is AU-C only

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

    July 9, 2013 at 11:19 pm #425836
    littlenumberrobot
    Member

    Thanks Jeff!

    CA CPA - All because of the journey listed below
    -----------------------------------------------------------------------
    FAR - 53('10), 8/25/12 79 PASSED!
    REG - 66('11), 69('12), 12/06/12 77 PASSED!!
    BEC - 58('10), 74('12), 01/05/13 77 PASSED!!!
    AUD - 43('11), 66('12), 69('13), 74('13) 7/29/13 85 PASSED!!!!!

    (Combinations of Roger, Yaeger, Wiley Book, Wiley TB, & NINJA Notes)

    Ethics 90%

    July 10, 2013 at 1:46 am #425837
    jsmithsae
    Member

    Thanks for the update…i thought i read the same regarding only AU-C on the research.

    @getthis…yes make sure you RMFTQ! big difference between issuing a financial and being an issuer.

    BEC-75!
    AUD-84!
    REG-78!
    FAR-83!
    Ethics-Passed!
    Experience-Got that too

    Used Becker 2013 Self-Study & NINJA 10pt Combo Lite(AUD)

    July 13, 2013 at 6:14 pm #425838
    kiiki
    Member

    I have a question. Can you choose “AU-C”? I don't think there is a choice for “AU-C” in my Becker software, but the answer is AU-C something. Another question, for a question, the answer is AU-C 800. A35. But I cannot enter “A35” since the system informed me that it was an incorrectly formatted paragraph. What's wrong with it?

    July 13, 2013 at 6:14 pm #425839
    kiiki
    Member

    I have a question. Can you choose “AU-C”? I don't think there is a choice for “AU-C” in my Becker software, but the answer is AU-C something. Another question, for a question, the answer is AU-C 800. A35. But I cannot enter “A35” since the system informed me that it was an incorrectly formatted paragraph. What's wrong with it?

    July 13, 2013 at 6:47 pm #425840
    jsmithsae
    Member

    @kiiki…what version of becker are you using? if you are using 2013 vB you can choose AU-C. Not sure about the prior versions because it wasnt testable until vB.

    BEC-75!
    AUD-84!
    REG-78!
    FAR-83!
    Ethics-Passed!
    Experience-Got that too

    Used Becker 2013 Self-Study & NINJA 10pt Combo Lite(AUD)

    July 13, 2013 at 7:17 pm #425841
    smalltimeauditor
    Member

    My understanding is that the reason “AU-C” was used is because of the new clarified standards for 2013 only. On January 1, 2014, all AU-C will revert back to “regular” AU.

    This was done in 2013 to avoid confusion with existing AU standards.

    B - Passed
    A - Passed
    R - Passed
    F - Passed

    July 13, 2013 at 8:41 pm #425842
    kiiki
    Member

    @jsmithsae Thank you for reply~~ It's 2013 V13.0.1. It has Auditing B for exam after July 2013. So I suppose it should have this choice… Anyway during the exam, I mean the real one, I should see that AU-C choice, right?

    July 13, 2013 at 8:42 pm #425843
    kiiki
    Member

    @jsmithsae Are you using 2013 VB? Do you have this choice?

    July 13, 2013 at 8:42 pm #425844
    kiiki
    Member

    @jsmithsae Are you using 2013 VB? Do you have this choice?

    July 13, 2013 at 8:45 pm #425845
    jsmithsae
    Member

    yes i have vB and it has the choice. You are waaaay behind on updates though…the most current is 13.8.1

    on the exam you will have AU-C as the choice as well.

    BEC-75!
    AUD-84!
    REG-78!
    FAR-83!
    Ethics-Passed!
    Experience-Got that too

    Used Becker 2013 Self-Study & NINJA 10pt Combo Lite(AUD)

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