[jeff]

Post by Another71.

Free Study Planner, Notes, Audio, Flashcards: https://www.another71.com/cpa-exam-study-plan/

Free CPA Exam Survival Guide: https://www.another71.com/cpa-exam-survival-guide/

AUD - 79
BEC - 80
FAR - 76
REG - 92

Jeff Elliott, CPA (KS)
NINJA CPA | NINJA CMA | NINJA CPE | Another71

[jstay]

hardcore studying for AUD begins this weekend!

[mlevine63091]

fyi for anyone studying the ssars stuff this weekend. my tutor gave me very good advise that helped me go from weaker to stronger on the topic. when you're studying it, spend a lot of time between the ocboa/comp. review stuff. and then spend a bunch of time of the attestation material. The stuff can seem like it overlaps but wen you study the topics separately it really helps with the ssars material.

[jeff]

MCQ users – NINJA Chat is live: https://www.another71.com/cpa-exam-forum/topic/ninja-chat-is-live

AUD - 79
BEC - 80
FAR - 76
REG - 92

Jeff Elliott, CPA (KS)
NINJA CPA | NINJA CMA | NINJA CPE | Another71

[mtwst113]

Rise and shine! How is everyone's studying going so far?

BEC | √
AUD| √
FAR| Spring 2015

[jstay]

alright i suppose, i finished A5 yesterday and now im doing sims for A1-A5. outlined A1 last night and will probably do A2 later today

[mtwst113]

You'll probably start to notice how the material overlaps with previous sections, so it's definitely helpful that you're going back and taking notes.

BEC | √
AUD| √
FAR| Spring 2015

[hunter32]

I'm on A4 right now. The repetition of the transaction cycles makes me want to bang my head against my desk.

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

[jstay]

yeah A4 was annoying -__-

im going to ave to redo all of this cause i feel like im not remembering anything

today was sims, which i think were better then FAR, or atleast the practice ones. and now im going to do index cards for A2

[hunter32]

I've found that the key to A2 is to nail the differences in the reports (i.e. Material modifications, limited assurance, no assurance, etc) and identifying which procedures are conducted in an audit and eliminating them from the review and comp choices if that makes sense. I scored in the 90s for the big section of the multiple choice. Attestation can be a bit funky

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

[Anonymous]

how can B be correct?

When qualifying an opinion because of an insufficiency of audit evidence, an auditor should refer to the situation in the:

A. scope paragraph and notes to the financial statements.

B. auditor's responsibility paragraph.

C. notes to the financial statements.

Incorrect D. None of the answer choices are correct.

Explanation: It is not appropriate for the scope of the audit to be explained in a note to the financial statements, since the description of the audit scope is the responsibility of the auditor and not that of the client.

??

[mtwst113]

A is incorrect since 1) when a qualified opinion is issued, the scope (intro) paragraph is not modified and 2) The auditor never includes any information within the financial statements.

C is incorrect based on A's explanation.

B is correct because when you issue a qualified opinion, the auditor adds a sentence at the end of that section that says “We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified audit opinion.”

BEC | √
AUD| √
FAR| Spring 2015

[Anonymous]

right, I should memorize the stupid report

[Anonymous]

Ananja, know the Auditors Reports inside and out. And know the differences between an Audit, Compilation and Review report. Trust me. It will be worth your time.

[Anonymous]

I keep putting it off, the thought of actually doing it is depressing. There is also represent. letter, engagement letter and other letters, not sure if I have this much space in my brain currently available

here is another question.

Emphasis of matter paragraph is included in the future reports until the new accounting principle is applied in all periods presented – what does this mean? I am having hard time interpreting. This same paragraph is included in all future audit reports forever while entity exists? Or what are the all periods presented?

[Anonymous]

I found the other reports you mentioned (Management Rep Letter, Engagement Letter, etc) you need to know what is and is not included in them and timing. But the Auditor Reports you need to know the content and exact wording.

[Author]

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