[Spur]

Can someone please explain in laments terms what the word “pervasive” means in the context of an audit?

FAR - Bad Fail '11, Fail '12, Fail '13, PASS It's a miracle!
AUD - Fail, PASS!!!!!!!!!!!!!!!!!!!!!!!
BEC - PASS!!!!!!!!
REG - PASS!!!!!!!! And I'm done!

[Myredstapler]

i always looked at it as meaning VERY MATERIAL

[nbad311]

My understanding was that pervasive was basically “widespread”. Pervasive in the financial statements would mean things are funky all over them or something (fraud) that ends up affecting lots of areas of the FS, not just one piece of them

REG - 65, 70, 80!
BEC - 35, 62, 79!
AUD - 73, 75!
FAR - 65, 73, 70, 75! DONE.

[Spur]

thanks, that makes sense. If you look up the definition it's not very clear exactly what the word means. In the Wiley Book, it is mentioned a ton in Module 5.

FAR - Bad Fail '11, Fail '12, Fail '13, PASS It's a miracle!
AUD - Fail, PASS!!!!!!!!!!!!!!!!!!!!!!!
BEC - PASS!!!!!!!!
REG - PASS!!!!!!!! And I'm done!

[littlenumberrobot]

I agree it is very widespread-material throughout the financial statements. My Yaeger instructor emphasized this also.

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%

[Zach Zach]

Just went over this in my Yaeger lectures and Wiley textbook (pg. 422 in 2013 Audit textbook) & looks like you've got it in a nutshell.

Pervasive: Pervasive effects on financial information are those that, in the auditor's judgement, are not confined to specific elements, accounts or items of the statements or if so confined, represent or could represent a substantial proportion of the statements or are fundamental to users' understanding of the financial statements.

Though the above sentence is one of the worst run-on-sentences ever, a pervasive effect is either not confined to a specific element of financial statements OR if confined, makes up a big part of the statements as a whole.

DELAWARE

AUD: 74 (7/2014) 76 (11/2014) PASSED! USED YAEGER AND NINJA
BEC: 73 (9/2014) 76 (2/2014) SO FAR SO GOOD! USED NINJA AND WILEY
FAR: Will take after tax season (can't wait)
REG: Cue overly dramatic impending-doom music (will take in 2014)

[Author]

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