[jlondon]

So, I’m a bit confused.. I searched this forum, and see most replies are old. And since Audit is new this year around.. Just wanted to start a new topic.

I was reading the wiley book, and on page 529 of the professional outlines, it states that in a compilation of prospective financial statements, the required compilation procedures included “Obtain a written client rep letter (signed by responsible party at highest level of authority). Ok, so this is required.

But then when I answered one of the wiley questions somewhere in the test bank, I took notes that a accountant is NOT required to obtain management rep letter. So I’m just going over and reviewing my notes.

It’s a bit confusing… so is a rep letter required for a compilation?

BEC: 69, 57, 72, 73, (anticipated for 4/4/2015)
AUD: 65, 63, 74, 84!!! (expires 7/31/2015)
FAR: 63, 57, (scheduled for 4/1/2015)
REG: ... 42, (Anticipated to be around 5/20~)

-Every Set Back is a Set Up for a Major Come Back #motivation

"I've missed over 9,000 shots in my career. I've lost over 300 games. 26 times I've been trusted to take the game winning shot, and missed. I've failed, over and over and over again in my life. And that is why, I succeed." - Michael Jordan

"You are not your past, but the resources and capabilities you glean from it" -Jordan Belfort

[nishvik]

Basically compilations under SSARS do not require Management Rep Letter.

For compilation under Attestation standards done for prospective financial statements i am not sure whether if you require Mangmnt Rep letter. I think it should be optional here ( not required) But I am not sure here. Will read the wiley text and check tommorow. Just wrapped up studies and before going to sleep thought to check the forum.

Anyone else please share your thoughts. Audit is really overwhelming the more we dive into the material,smthing new found.

Good Luck

FAR- 79 -->Becker self study, Final review & Flashcards
REG -72-->Becker ,76-->Becker plus Wiley test bank
AUD- 73 Becker,72-->Becker+Wiley,69-->Added ninja notes,89 --> Added Gleim review
BEC- 84 Becker plus Wiley Test bank

I am Done !!!!

[nishvik]

Basically compilations under SSARS do not require Management Rep Letter.

For compilation under Attestation standards done for prospective financial statements i am not sure whether if you require Mangmnt Rep letter. I think it should be optional here ( not required) But I am not sure here. Will read the wiley text and check tommorow. Just wrapped up studies and before going to sleep thought to check the forum.

Anyone else please share your thoughts. Audit is really overwhelming the more we dive into the material,smthing new found.

Good Luck

FAR- 79 -->Becker self study, Final review & Flashcards
REG -72-->Becker ,76-->Becker plus Wiley test bank
AUD- 73 Becker,72-->Becker+Wiley,69-->Added ninja notes,89 --> Added Gleim review
BEC- 84 Becker plus Wiley Test bank

I am Done !!!!

[jlondon]

@nishvik Yes Audit is so overwhelming, cannot disagree with you on that. Thanks for you input.. will have to really dig into the text and see if I can find out the answer why…

If I find the MCQ which I did in hw questions, I'll post it up later.. just hope its not the tricky wording of audit that changes the whole questions..

BEC: 69, 57, 72, 73, (anticipated for 4/4/2015)
AUD: 65, 63, 74, 84!!! (expires 7/31/2015)
FAR: 63, 57, (scheduled for 4/1/2015)
REG: ... 42, (Anticipated to be around 5/20~)

-Every Set Back is a Set Up for a Major Come Back #motivation

"I've missed over 9,000 shots in my career. I've lost over 300 games. 26 times I've been trusted to take the game winning shot, and missed. I've failed, over and over and over again in my life. And that is why, I succeed." - Michael Jordan

"You are not your past, but the resources and capabilities you glean from it" -Jordan Belfort

[jlondon]

@nishvik Yes Audit is so overwhelming, cannot disagree with you on that. Thanks for you input.. will have to really dig into the text and see if I can find out the answer why…

If I find the MCQ which I did in hw questions, I'll post it up later.. just hope its not the tricky wording of audit that changes the whole questions..

BEC: 69, 57, 72, 73, (anticipated for 4/4/2015)
AUD: 65, 63, 74, 84!!! (expires 7/31/2015)
FAR: 63, 57, (scheduled for 4/1/2015)
REG: ... 42, (Anticipated to be around 5/20~)

-Every Set Back is a Set Up for a Major Come Back #motivation

"I've missed over 9,000 shots in my career. I've lost over 300 games. 26 times I've been trusted to take the game winning shot, and missed. I've failed, over and over and over again in my life. And that is why, I succeed." - Michael Jordan

"You are not your past, but the resources and capabilities you glean from it" -Jordan Belfort

[Author]

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