AUD Study Group Q4 2014 - Page 5

Viewing 15 replies - 61 through 75 (of 1,961 total)
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  • #621146
    Anonymous
    Inactive

    Am in! Taking the test on Oct 2nd. Starting A3 today. Using Becker as main material and have supplemented with blitz videos and ninja mp3's. How are you guys tackling the sims?

    #621986
    Anonymous
    Inactive

    Am in! Taking the test on Oct 2nd. Starting A3 today. Using Becker as main material and have supplemented with blitz videos and ninja mp3's. How are you guys tackling the sims?

    #621987

    Hi all. I will be here sooner or later in Q4(depending on REG score)…hoping for sooner rather than later!

    MBA,CMA,CPA, CFF?, ABV?

    #621148

    Hi all. I will be here sooner or later in Q4(depending on REG score)…hoping for sooner rather than later!

    MBA,CMA,CPA, CFF?, ABV?

    #621988
    Anonymous
    Inactive

    So Financial Audits only give opinions on the F.S. and not the I.C, but Attestation Engagements do both, correct? And obviously PCAOB does both.

    #621150
    Anonymous
    Inactive

    So Financial Audits only give opinions on the F.S. and not the I.C, but Attestation Engagements do both, correct? And obviously PCAOB does both.

    #621152
    Anonymous
    Inactive

    CPAHOPEFUL – I don't think that is correct. Depends on the attest engagement (review, agreed upon procedures or examination) but an opinion is generally not given on agreed upon procedures and review, only on examination. Can someone verify this?

    #621989
    Anonymous
    Inactive

    CPAHOPEFUL – I don't think that is correct. Depends on the attest engagement (review, agreed upon procedures or examination) but an opinion is generally not given on agreed upon procedures and review, only on examination. Can someone verify this?

    #621154
    Anonymous
    Inactive

    So if it is for an examination, do you give an opinion on both the internal control and F.S.?

    #621990
    Anonymous
    Inactive

    So if it is for an examination, do you give an opinion on both the internal control and F.S.?

    #621156
    jackaroe
    Participant

    @cpahopefull 11 – (from Wiley):

    ‘Examinations (referred to as audits in the case of FS) provide a report with a positive opinion with reasonable assurance on whether assertions follow the appropriate criteria'.

    @cracked (from Wiley):

    A review provides a report that includes limited or negative assurance… .

    An AUP disclaims a positive opinion.

    #621991
    jackaroe
    Participant

    @cpahopefull 11 – (from Wiley):

    ‘Examinations (referred to as audits in the case of FS) provide a report with a positive opinion with reasonable assurance on whether assertions follow the appropriate criteria'.

    @cracked (from Wiley):

    A review provides a report that includes limited or negative assurance… .

    An AUP disclaims a positive opinion.

    #621158
    Anonymous
    Inactive

    Yeah I get that, but in Roger's lecture he made comment that Attestation engagements also give opinions on the IC, but was a bit confused.

    #621992
    Anonymous
    Inactive

    Yeah I get that, but in Roger's lecture he made comment that Attestation engagements also give opinions on the IC, but was a bit confused.

    #621160
    playonwards
    Member

    Hey all…

    I took Audit on August 29th and it was a strange animal. I would predict that I'll be studying for this one again. Was just going to throw in my 2 cents about the exam.

    For one, I used Becker and did EVERYTHING and did it all pretty well. Studied two chapters per week then had 10 days to review. There wasn't a section of the book that I couldn't get at least a 70%, generally closer to 80-90%, on regarding practice tests. I also hand-wrote notes from the book on basically anything they highlighted or had you underscore/write. I used this same strategy for FAR when I took it in July and I got a 92 on that exam.

    Taking this exam was a frustrating experience. There was A LOT of material on the MC portion of the exam that I felt Becker did not emphasize or cover at all. Additionally, maybe 50% of my MC questions were from the same chapter in Becker, and not necessarily the one you'd think. Obviously can't say which, but overall I was blown away by the MC section in terms of how “off” Becker was regarding what to study.

    The Sims were either so easy I could've done them after taking my Audit class in college or unnecessarily complicated due to the vague instructions. I obviously don't have my score yet but I'm certain my performance on the MC will drag my score dangerously close to a 75, if not below. There's another thread here where others emphasize the surprising difficulty of the exams first testlet of MC questions, so I don't believe it was just my exam.

    My point of this post is, don't take this exam lightly. I had heard it was the easiest, maybe on the level of BEC. I didn't let that effect my studying though and I still got hammered by the MC. Good luck!

    FAR- 92 (7/25/2014)
    AUD- 93 (8/30/2014)
    REG- 93 (10/10/2014)
    BEC- 91 (11/10/2014)

    Using Becker self-study only. Working full-time.

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