[KJCPAwannabe]

Im using becker and I cant learn the ToC relevant at each step in the transaction cycle and the steps involved in each cycle. ugh, my aud exam is next week and this is the only thing im struggling with. Tips?

AUD - 11/16/2011 - 86
REG - 1/12/2012 - 77
BEC - 2/29/2012 - 90
FAR - 11/29/2012 - 85

[hopefulcpa28]

SAME HERE and my exam is in a day. I'm just going over all the MCQs. I'm good on tracing and vouching so hopefully, I'll be able to eliminate the choices…I've rescheduled it twice, hoping I can master it…but I won't be able to:(

[katiekanton]

What's TOC?

Edit: Ohh… tests of controls? I'm sorry, I just got up.

AUD - 88
FAR - 90
REG - 85
BEC - 88

[Anonymous]

lol we are all on the same boat… my exam is on Monday 10/31/11.

ToC aka tests of the operating effectiveness of internal controls

ToC are necessary in two circumstances: when the auditor’s risk assessment includes an expectation of the operating effectiveness of controls and when substantive procedures alone do not provide sufficient appropriate audit evidence.

Some examples of ToC include: Inquiry, Re-performance, Observation, Inspection

ToC = Attribute sampling

[hopefulcpa28]

yeah, but test of details aka five carrot cars is harder for me. I can do tracing and vouching…but digging little deeper is harder for me:( As someone else mention on the other thread, I'm gonna re-read the tran cycle, remember each cycle and hope for the best. I know it's never good to go in an exam like that, but I don't know what else to do. I just don't get that topic:(((

[Author]

Replies