sources to trust with, review book or pcaobus.org?

CPA Exam Forum AUD AUD Review sources to trust with, review book or pcaobus.org?

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  • #167557

    Niooby
    Member

    I saw others posted similar questions, but I didn’t take a look of the content. Until today, which i have encountered the same question.

    I use Wiley 2012 for my review of auditing. On the back of the AU 325 outline, ” timing of communications (sig. defi and material weakness) – best if by report release date, the date the auditor grants the entity permission to use the audit report; but no later than 60 days following the report release date.” ok, if i understand correctly, it’s ok to communicate with management and the audit committee within 60 days after the report release date, right?

    Then, just moments ago, I went to check on pcaobus.org for related AU. I found this:”The auditor must communicate in writing to management and the audit committee all significant deficiencies and material weaknesses identified during the audit. The written communication should be made prior to the issuance of the auditor’s report on the financial statements.”

    http://pcaobus.org/Standards/Auditing/Pages/AU325.aspx #4.

    I mean….. which sources should I trust??? I used Wiley for all other parts of CPA examination, and I passed those parts(Thank you Wiley!). But, no doubt, they make mistakes, especially on FAR. For auditing, which source should I trust, please help me. And, on the real exam, if in case that same question pop up, which one should i pick. Thanks for the help!!! (By the way, sick of these dates, had it on REG, now again for AUD!)

    #329603

    mla1169
    Participant

    I would say the PCAOB website always trumps any review course.

    #329604

    apbandj
    Member

    Don’t forget that Auditing standards and PCAOB standards differ in some areas. Could that be why you are getting conflicting info?

    #329605

    Niooby
    Member

    re apbandj:

    u r right! I just check SAS, aicpa’s version is different from pcaob’s…..

    but, for the AUD examination, should we study both? Wiley refers from aicpa, so??? getting confuse already!

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