AUD Study Group Q2 2015 - Page 27

  • Creator
    Topic
  • #192520
    jeff
    Keymaster

    Welcome to the Q2 2015 CPA Exam Study Group for AUD.

    World Premier: “Unmodified” (Audit Reports Rap Video) 🙂

    Posted by Another71 on Thursday, November 13, 2014

    Free NINJA: https://www.another71.com/cpa-exam-study-plan/

    AUD - 79
    BEC - 80
    FAR - 76
    REG - 92
    Jeff Elliott, CPA (KS)
    NINJA CPA | NINJA CMA | NINJA CPE | Another71
Viewing 15 replies - 391 through 405 (of 1,631 total)
  • Author
    Replies
  • #668737
    Martin
    Participant

    D. January 1, Year 1, through May 1, Year 3.

    Through God all things can happen!

    “You never fail until you stop trying.”
    ― Albert Einstein
    When I was young, I used to admire intelligent people;as I grow older, I admire kind people.
    “Just keep swimming, just keep swimming.”

    FAR= 72-84
    Audit= 73-82
    BEC= 74-75
    Reg=77

    #668738
    ladybossxo
    Participant

    This is NINJA sims question 1:

    You are reviewing the working paper file from last year’s audit engagement of ABC Company. These items represent a series of unrelated statements, questions, excerpts, and comments taken from various parts of an auditor's working paper file. Click on each shaded cell in the second column for a list of the likely sources of the statements, questions, excerpts, and comments. Select the most likely source as the best answer for each item. A source may be selected once, more than once, or not at all.

    During the year under audit, we were advised that management consulted with Better & Best, CPAs. The purpose of this consultation was to obtain another CPA firm's opinion concerning the company's recognition of certain revenue that we believe should be deferred to future periods. Better & Best's opinion was consistent with our opinion, so management did not recognize the revenue in the current year.

    There were like 15 choices so I will just write out 4 options.

    a) Auditor's communication to the audit committee (other than with respect to significant deficiencies)

    b) Predecessor auditor's communication with successor auditor

    c) Auditor's engagement letter

    d) Partner's engagement review notes

    CPA Exams Done.

    #668739
    trish_1234
    Member

    What a long nasty question

    AUD 69, 92 7/15 Gleim and Ninja test bank
    FAR sometime in 10/15 Gleim
    BEC not taken
    REG not taken

    #668740
    trish_1234
    Member

    A

    AUD 69, 92 7/15 Gleim and Ninja test bank
    FAR sometime in 10/15 Gleim
    BEC not taken
    REG not taken

    #668741
    trish_1234
    Member

    All of that of a letter A lolol

    AUD 69, 92 7/15 Gleim and Ninja test bank
    FAR sometime in 10/15 Gleim
    BEC not taken
    REG not taken

    #668742
    ladybossxo
    Participant

    @Trish: Yep it is A.

    AU-C 260 requires the auditor determine that certain matters related to the conduct of an audit are communicated with those charged with governance for the oversight of the financial reporting process. This requires communication with the audit committee, if one exists. One such required matter is when management consults with other accountants regarding application of accounting principles.

    Lol hahah no if you do NINJA SIMS Q1, there were 15 options or so, for one cell, so I just narrowed it down for quizzing.

    CPA Exams Done.

    #668743
    ladybossxo
    Participant

    And that one question itself has 19 questions, it was not fun 🙁

    CPA Exams Done.

    #668744
    ladybossxo
    Participant

    @Martin: Yes I do agree with you with the Wiley textbook. I have the textbook but I don't even refer to it. I just did and holy moly, the font is much smaller and a lot more details.

    CPA Exams Done.

    #668745
    trish_1234
    Member

    this is basically all needed to know abt yellow book stuff … my study material says know the differences gives reasonable assurance to answer those types of questions lolol not absolute

    For financial statement audits, Government Auditing Standards (GAS) incorporate the AICPA Statements on Auditing Standards (SAS) and prescribe additional standards on:

    direct reporting of noncompliance with laws and regulations.

    reporting on internal controls.

    A.

    Both I and II

    B.

    I only

    C.

    II only

    D.

    Neither I nor II

    AUD 69, 92 7/15 Gleim and Ninja test bank
    FAR sometime in 10/15 Gleim
    BEC not taken
    REG not taken

    #668746
    trish_1234
    Member

    @ lady how is the section for ratio and IC? is it good?

    AUD 69, 92 7/15 Gleim and Ninja test bank
    FAR sometime in 10/15 Gleim
    BEC not taken
    REG not taken

    #668747
    ladybossxo
    Participant

    @Trish: I am not there yet so I don't know how to answer it. I think it is A or B.

    I am also not there for ratio and internal control but from what I remember, I think they're good. I am only on question 5 for SIMS. I am doing them in order. I think I am just going to do 10 per day. There are 84 of them. I am already developing a headache.

    Today, I finished doing the MCQ for Chapter 4 in Becker which is about transaction cycles and all the good stuff that I don't like. I went back to read the whole section on that in the textbook and Wiley as well.

    CPA Exams Done.

    #668748
    trish_1234
    Member

    my ninja is random idk

    A

    AUD 69, 92 7/15 Gleim and Ninja test bank
    FAR sometime in 10/15 Gleim
    BEC not taken
    REG not taken

    #668749
    ladybossxo
    Participant

    You can customize it. It gives you 3 options, all questions, by number, and new questions

    CPA Exams Done.

    #668750
    trish_1234
    Member

    thanks, i didn't know

    AUD 69, 92 7/15 Gleim and Ninja test bank
    FAR sometime in 10/15 Gleim
    BEC not taken
    REG not taken

    #668751
    Martin
    Participant

    Are you guys covering Info technology in Audit? I think everything related to IT should go into BEC, and I did not get a single question on it.

    Through God all things can happen!

    “You never fail until you stop trying.”
    ― Albert Einstein
    When I was young, I used to admire intelligent people;as I grow older, I admire kind people.
    “Just keep swimming, just keep swimming.”

    FAR= 72-84
    Audit= 73-82
    BEC= 74-75
    Reg=77

Viewing 15 replies - 391 through 405 (of 1,631 total)
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