[Anonymous]

Tomorrow is my test and yet I’m still not sure which comes first. From my past progress tests, sometimes I got others correct and in some, I got them wrong.

Is this order right?

1. Understand IC

2. Assess Risk

3. Test Controls

4. Determine NET/Extent of Substantive Test

P.S. to Jeff E. I’m thankful for your mnemonic IRON for test of controls. With hundreds of questions I’ve encountered, I couldn’t get them wrong after I’ve convinced myself with IRON, no matter how the questions are tossed back & forth.

[Anonymous]

Sorry, but why would u not retake FAR & instead take AUD. U are going to waste a lot of time re-learning.

BTW, the order is correct, but they are not mutually exclusive. E.g. if u test transactions and find 99% of the account is misstated, u obviously would have to reassess the RMM.

[Anonymous]

@Charlie, thanks for asking and also thanks for your reply. Yes, you're right, I've spent hundred of hours and haven't any single part of CPA passed yet. It's a long story. It's my master's class with Keller/Devry overlapping my schedules. Late in Dec 2012, I scheduled to take FAR 1/18/13 while I was left with no choice but to start my online-review class with Becker/Keller on 1/7/13 for AUD. Crazy as it was, I knew I needed to reschedule my testing date but AUD class already began. Then come 2/7/13, opps like a virgin CPA candidate who failed for the first time. LOL

Anyway, I have another quick question here please anyone!

Fact: There is an inverse relationship between desired risk of incorrect acceptance and sample size.

Question: How about risk of incorrect rejection? Direct or inverse relationship with sample size?

Thanks!!

[Author]

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