[Anonymous]

Hi all, I’m currently working my way through the Wiley Audit test bank evidence section. I did very well on all of the other sections (80+) however; I am struggling to maintain 70% on this section.

Some of the questions are ridiculously obscure, and I would struggle to answer them even if I was able to refer to my notes. Many of the questions that I have gotten incorrect have 2 answers that could be correct. The reference material for some of the questions can be equally as contradictory also…

This is seriously sapping my confidence…Anyone else have troubles with some of the questions in this section?

[Anonymous]

To give you an example, here is a question I just got incorrect:

Which of the following statements extracted from a client’s lawyer’s letter concerning litigation, claims, and assessments most likely would cause the auditor to request clarification?

A. “I believe that the plaintiff will have problems establishing any liability.”

B. “I believe that this action has only a remote chance in establishing any liability.”

C. “I believe that the plaintiff’s case against the company is without merit.”

D. “I believe that the company will be able to defend this action successfully.”

The correct answer is D, and this is the Wiley explanation:

This answer is correct because this statement is unclear and does not help the auditors to determine whether such legal matters have been properly reported.

There is no explanation as to why it is “unclear” except for the statement that it is “unclear”. After re-reading each answer choice several times I still do not know why this answer is “more correct” than any of the others….

Does anyone else find this confusing?….Thanks….

[Anonymous]

Bump

[SullivanNJD]

I thought I got this in Becker's test bank and the answer was A

FAR- 87
REG- 81
AUD- 88
BEC-

Who's Better Than Us? nobody

[jeff]

From NINJA MCQ:

Which of the following statements extracted from a client's lawyer's letter concerning litigation, claims, and assessments most likely would cause the auditor to request clarification?

A “I believe that the plaintiff will have problems establishing any liability.”

B “I believe that this action has only a remote chance in establishing any liability.”

C “I believe that the plaintiff's case against the company is without merit.”

D “I believe that the company will be able to defend this action successfully.”

Answer: A

The auditor looks to the lawyer's letter for an indication of an unfavorable outcome and an estimated range of potential loss for each contingency. In all but one choice, the attorney has provided the auditor with a professional opinion that there will be no loss (“remote chance of establishing any liability”; “plaintiff's case is without merit”; “the company will be able to defend this action successfully”).

If the attorney responded, “I believe that the plaintiff will have problems establishing any liability,” then the auditor would most likely request clarification on the matter.

***

This AUD question and 1,596 others (and 84 Simulations) can be yours for $47 🙂

https://www.another71.com/products-page/ninja-mcq

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

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

[SullivanNJD]

Yeah I knew I saw it somewhere. Mustafa been Ninja not Becker

FAR- 87
REG- 81
AUD- 88
BEC-

Who's Better Than Us? nobody

[CPA soon]

You are not alone, evidence was quite difficult. I also had 80% then scored 70% on evidence but I felt some I just made educated guesses

FAR - 71, 68, 74, (8/31/14) 78 ✔
REG - 67, 71, 71, (10/18/14) 78 ✔
BEC - (11/29/14) 86 ✔
AUD - 73, (4/4/15) 86 ✔

I can't believe this is over! 2 years and 3 months..

[Anonymous]

Thanks guys!

[Author]

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