AUD Study Group Q1 2015 - Page 7

Viewing 15 replies - 91 through 105 (of 1,162 total)
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  • #649877
    WANNABE_CPA
    Member

    @agile, I looked up the page in becker you mentioned. It says No for General use, for both Emphasis of matter and Other matter. It is confusing to distinguish. They say EXCEPT WHEN Special purpose FS and prepared according to Regulatory basis and for General Use, it includes both paragraphs. That is, when regulatory and general use, No Emphasis of matter and Other matter paragraph.

    FAR : 68, 74, 83 Thank you God 🙂
    BEC : 78 (8/27) 🙂
    REG : 72 ,80 (2/25) 🙂
    AUD : 69,67, 07/23

    #649878
    teamryan15
    Member

    @howmany74s I am just concerned on how I am supposed to study the new material. I have becker and v1.1 erased all your progress. There has got to be some summary of changes available or a way just to see the new questions. I cant find anything online.

    #649879
    howmany74s
    Member

    I'm planning to read according to this list and just keep doing questions.

    Created with Compare Ninja

    #649880
    mlevine63091
    Member

    @howmany74s

    wait, they give you 4 and a half hours now to take the test? did i read that wrong from your post?

    #649881
    howmany74s
    Member

    Yes, I just checked again just to be 100% sure and:

    Appointment Duration: 4:30

    Copied directly from my confirmation. 30 minutes = more questions? Freaking out is an underestimation.

    So if there is anyone out there who happens to have some knowledge through live courses etc. please do shed some light into this.

    #649882
    WANNABE_CPA
    Member

    @howmany, They always add 30 minutes in appoinment duration for the time it takes to get you ready for sending you in the room. Exam time is the same, 4 hours.

    FAR : 68, 74, 83 Thank you God 🙂
    BEC : 78 (8/27) 🙂
    REG : 72 ,80 (2/25) 🙂
    AUD : 69,67, 07/23

    #649883
    howmany74s
    Member

    WANNABE, are you serious??? If yes – > facepalm (but praying to cpa gods for being nice to me just once).

    #649884
    WANNABE_CPA
    Member

    @howmany, i think i am pretty sure about it but still if i am not, please others let us know. I thought that in my first exam as well and kept telling everyone that FAR is 4:30 hr long but got surprised by clock just showing 3hrs 59 mins left. Felt stupid(facepalm situation) for few seconds, had to get over it and concentrate rest of the time .Thats my 1st ever CPA exam tale.

    FAR : 68, 74, 83 Thank you God 🙂
    BEC : 78 (8/27) 🙂
    REG : 72 ,80 (2/25) 🙂
    AUD : 69,67, 07/23

    #649885
    howmany74s
    Member

    I've been taking this test for a while and never noticed the timing, however I just checked the updated Becker material's final exam and it is still 4 hours (good sign, eh?). I will gladly be the idiot of the year for not noticing this before, no complaints here.

    #649886
    acctaks
    Participant

    @rosssumner15 the group auditor doesn't make reference to the component auditor because the group audit team actually performs procedures to ensure that they can rely on the work of the component auditor. It's not like they just read the report and decide to use it. Since they are performing additional procedures there is not reason to mention anyone else. Now for your situation they also perform additional procedures in order to convert from the component framework to the group. Again, they shouldn't mention the component auditor for something they didn't do. If the framework is similar then they can divide responsibility by mentioning the component auditor. That means the group doesn't have to do additional work in order to take responsibility. I hope that makes sense.

    F-Pass
    A-Pass
    R-Pass
    B-Pass

    I'm a CPA!

    #649887
    pipper0916
    Member

    I am retaking audit in January

    If I am using becker should I be studying the V1.0 or V1.1 lecture

    Thankyou

    Reg-79
    Far-
    Aud-81
    Bec-

    #649888
    M.O.D.
    Member

    I am planning AUD for the end of February. I am still reading the book and don't know enough to answer advanced questions, but I'll jump in later in the quarter.

    BA Mathematics, UC Berkeley
    Certificates in CPA and EA preparation, College of San Mateo
    CMA I 420, II 470
    FAR 91, AUD Feb 2015 (Gleim self-study)

    #649889
    acctaks
    Participant

    For everyone who is confused chapters 1-3 are overviews of everything that's covered in 4-6. I read the book and did the homework twice. What you need to do is tie it all together. Seriously, it's okay to be confused your first time through. One you finish and go back to 1-3 you'll smack yourself in the forehead and say, “ohhhhhh”. Just remember the different types of engagements and separate them in your mind. Use the charts in the book to help keep everything straight in your mind. I'm referring to Becker BTW..

    F-Pass
    A-Pass
    R-Pass
    B-Pass

    I'm a CPA!

    #649890
    hunter32
    Member

    After Becker chapters 3 and 4, I'm making the assertion that I need multiple drinks to clear my head.

    BEC - 80 (Becker)
    AUD - 92 (Becker+NINJA MCQ)
    FAR - 87 (Becker+NINJA MCQ)
    REG - 90 (Becker+NINJA MCQ and Audio)

    #649891
    rosssumner15
    Member

    @acctaks The way you said it made a lot of sense. Thanks! I'm glad you said the first 3 chapters are overviews of the last 3. I've never done anything close to auditing and I was worried about taking on all of this new material. Hopefully this stuff starts making sense once I make it through the book one time.

    FAR - 67-85
    BEC - 75
    REG - 78

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