1. 

   sleeplessinWI
   

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   Ineedonly75:

   Remeber this for testing:

   I C D (I see Dee)

   If Ineherent risk and or Control risk are assessed low meaning no good (an auditor has no control over them. they are what they are) than Detection risk NEEDS to be assessed high. High detection risk means you need to have more substantive testing to lower the risk.

   You assess internal controls and if they are found to be working good then you can depend on them and do less substantive testing. If they aren't working properly testing them more won't make them better so abandon that and do more substantive testing.

   Hope it helps!

   REG,BEC,FAR - PASS, AUD 70, retake 4/26/11 85
   
   If we all threw our problems in a pile and saw everyone else's, we'd grab ours back.

   Posted 1 year ago #
2. 

   Ineedonly75
   

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   sleeplessinWI - thank you very much. Your explaination is very clear. I found AUD particularly difficult since I do only TAX at work. I appreciate for anyone's tips and help in this forum.

   Reg - Passed
   FAR - Passed
   BEC - Passed
   Audit - 11/28

   Posted 1 year ago #
3. 

   phillyrocks87
   

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   so what happened to AUD scores this wave? Isn't AUD usually 2nd on the releasing? I see BEC, FAR, and REG but no AUD :(

   B: 11/09 55; 01/10 68; 8/10 54; 4/11 68; 8/11 PASSED
   A: 07/10 74; 10/10 73; 5/11 65; 7/18 PASSED
   R: 11/10 PASSED
   F: 10/09 64; 05/10 73; 8/10 73; 1/11 PASSED

   Posted 1 year ago #
4. 

   jenbee9
   

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   Sleepless in WI needs to get more sleep because it is exactly the opposite.

   If IR and CR are high you have to work to get detection risk low. The equation is IR*CR*DR = Audit Risk. If the risk of material mistatement is high (IR*CR) you need to limit detection risk to control the total acceptable risk level. If IR and CR are assessed at the maximum (high), they can't be relied on, as a result you must do more substantive testing to bring total audit risk lower.

   Posted 1 year ago #
5. 

   dorky
   

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   @jenbee9

   i was reading that thinking, wait a minute, it's backwards

   If IR and CR are high, detection risk is low and you need to do more work (because the odds of you detecting the problem right off are LOW).

   3 days to goo.....

   FAR - 10/22: 88
   AUD - 11/23: 93
   BEC - 2/28: 89
   REG - 1/31: 70 - 7/1/11: 85

   Posted 1 year ago #
6. 

   jkiddisgarb
   

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   nasba released aud today, via twitter

   Posted 1 year ago #
7. 

   CPA_Rookie
   

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   Hi everyone, I am kinda of new here. I just did my Audit exam on Nov 20th, 2010. I am not sure if I could actually pass it, since I only studied it for about 2 weeks.

   I came from a University with Accounting degree background, but I did BEC twice already and both ended up with a 74, which really discouraged my feelings at the moment.

   On my 2nd testlets of Auditing, there was a Audit IT question asking me something like this "What is the disadvantages for working around the computer and not using the client's computer". Then again in my 3rd testlets, I got the same questions again, which asked me for the Advantages for the exact same question. So can I actually assume that my 3rd testlet is the same difficulty level as the 2nd one? Since they asked me the same level of questions on 2nd and 3rd testlets.

   Many thx!~

   BEC: 86 (2/19/2011)
   REG: 79 (4/23/2011)
   AUD: 62, 89 (8/31/2011)
   FAR: 70, 76 (1/07/2012)

   Posted 1 year ago #
8. 

   Danielle
   

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   Can someone please help me understand this?

   " When the periods presented in comparative FS are either all compiled or all reviewed, a continuing accountant should UPDATE the report on the prior period and issue it as part of the current report." from Becker book A2 pg 32

   I don't get why should an auditor UPDATE prior period's report. I thought updating report has to do with a different opinion, but why updating when presenting comparative FS?

   Thanks!

   Posted 1 year ago #
9. 

   AICPA - Monopoly
   

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   When FS are shown comparatively, you're reporting on each year individually (which includes the prior year statements). You can actually give different opinions on the different years (an unqualified opinion on the current year and a qualified, adverse, etc. opinion on the prior year). Since you're reporting on the prior year statements, you need to update the opinion in order to make sure that it is still appropriate in the current year (there were no discoveries of errors during the current year's engagement, etc. that would change the prior year's opinion). Updating the prior year's opinion doesn't necessarily mean that the opinion will be changed. It is basically just making sure you do your due diligence.

   FAR-97 AUD-98 BEC-95 REG-99
   (IL-416)- I'm done!!!

   Posted 1 year ago #
10. 

    Danielle
    

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    Thank you Monopoly! That was very helpful!

    Posted 1 year ago #
11. 

    AICPA - Monopoly
    

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    No problem- I'd much rather do this than study IT in BEC!

    FAR-97 AUD-98 BEC-95 REG-99
    (IL-416)- I'm done!!!

    Posted 1 year ago #
12. 

    cev
    

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    Attention everyone!

    What is better: to practice many multiple choice questions or study from my notes?

    thank you!

    FAR 77; REG 79
    AUD 64, 62, 80
    BEC 74, 72, 72, 72, 75!!!!
    ...Texas...

    Posted 1 year ago #
13. 

    Abe Froman
    

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    @cev

    I found that doing as many mcq's as I could worked best for me. I use Becker and work all the required mcq's along with the supplemental mcq's they had for each chapter. In addition, I printed out the questions released by the AICPA for the AUD section and did those. I definitely saw some mcq's on the exam that were almost identical to the ones I saw in the Becker review. Hope that helps and good luck!

    Posted 1 year ago #
14. 

    jf4cpa
    

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    I took audit in California on 10/18 and my score isn't released yet. I've taken the exam several times, and my scores have always posted the day after AICPA releases scores (I check the NASBA twitter page, then always see my score in my California CBA account the next morning). However, this is the first time when the score has not popped up. AICPA released 8,000 audit scores Monday, and my score still hasn't popped up, for which I now imagine my score will be released in Wave 2. Anyone else have a similar story? Anything to offer, Jeff?

    Posted 1 year ago #
15. 

    GreenCPA
    

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    @Abe Thanks for the advice. I was also trying to decide how to devote my next few days of studying Auditing. I'm using Becker as well so it's nice to know I might come across some identical ones. Did you use Becker final review at all?

    @Cev Good luck with your Auditing exam on Sunday. I'm taking my exam on Monday.

    @jf4cpa Sorry I have nothing to offer. I'm from WI and we have to wait until all the scores are released before we see anything and usually it's a week after that. I took my FAR exam on 10/11 and when I called NASBA they said I should receive something be the end of December. :(

    Posted 1 year ago #
16. 

    CajunCPA
    

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    I'm starting to realize that I should have gave myself more time to study for audit... I only gave my self 2 & 1/2 weeks. My test is Monday and needless to say, I'm starting to freak out. :(

    REG - 78 Expires 11/24/11 (Lost credit)
    FAR - Retake for the 4th time 10/25/11
    BEC - Retake for the 3rd time 11/11/11 --Failed :(
    AUD - Retake for the 2nd time 11/22/11 --Yikes

    Posted 1 year ago #
17. 

    pcarey
    

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    My test is tomorrow....AHAHAHAHAHAHAHAH!....I always get such anxiety the day before. I have been getting scores in the high 80's on my BISK practice tests and answering all the multiple choice questions over again. Just wondering what I should really be focusing on the last two days for review.

    BEC - PASSED
    AUDIT - 11/26
    REG - JAN 2011
    FAR - After busy season

    Posted 1 year ago #
18. 

    Abe Froman
    

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    @GreenCPA: no I never used the Becker final review...I did speak to someone who had ordered it for REG and said it was really difficult...good luck!!!

    Posted 1 year ago #
19. 

    killaking
    

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    Well took the becker practice final and got a 67 hopefully the 10-15 point rule holds true

    FAR: 7/17/10 missed exam FML reschedule 8/29/10-77 EPIC!
    REG: 5/31/11-73 SMH, 8/31/11-85
    BEC: 4/15/10-72 : retake 10/3/10-80
    AUD: 11/28/10-74, 02/27/11-71 FML, 8/1/11-80
    Ethics 10/22/22-80, retake 11/28/11 - 88

    Posted 1 year ago #
20. 

    Jeff - another71.com
    

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    Today, 683 AUD scores scores were released by AICPA for Oct/Nov window.

    Become a NINJA:
    NINJA Notes
    NINJA Audio
    Wiley Test Bank

    Posted 1 year ago #
21. 

    UGH
    

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    any ideas when the nov bec scores will be released?

    AUD (1.22) - GA, NTS 429
    REG (4.04)
    
    LETS GET IT!

    Posted 1 year ago #

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