So…I thought this might be fun/helpful. There are certain things that I have a hard time remembering for whatever reason so I made up some silly ways to remember them. If anyone has anything else- throw it out there. It may help someone else remember.
Adverse vs. Disclaimer
I always see those old Gap ads on TV and think they are so cheesy…so to remember that an adverse opinion is used for GAAP departures, I think Gap (GAAP) ads (adverse) are the worst.
Financials Forecasts and Projections
Forecasts- I always say A, B, C, D, E, F, G (general use!), limited use
Projections- limited use only
Yellow Book Standards
I've done a few yellow book standard audits and they're always a pain…so I think of the phrase “they'll throw the book at you” to remind myself that it is the most strict.
Hope this helps someone on test day š
CPA, CFE
CISA- Experience will be completed by August 2016