Comment

Comment by Connie Cox Christopher on March 8, 2012 at 8:39am

Now to wait for Texas to verify and release the scores....

Comment by Connie Cox Christopher on March 8, 2012 at 8:38am

The AICPA released the following scores to NASBA from the January/February 2012 testing window: 5,522 AUD, 3,468 BEC, 5,084 FAR, and 5,637 REG. Good luck!

Comment by Addy on March 3, 2012 at 9:36am

Yes, and it's important to note that payroll is a record keeping dept, not an authoritative or custodial department. The treasurey (signer of checks) is a custodial department who takes possession of the unclaimed checks. This is a common exam trick!

Comment by Edgar Soto on March 3, 2012 at 9:13am

Returning those undistributed checks to the payroll dept. (a record keeping function) would be considered an ineffective SOD. Since a record keeping function should not have custody of undistributed checks, employees not involved in the payroll or human resources function should maintain custody as well as investigate and reconcile the returned payroll checks.

Comment by Sanjay Gaur on March 1, 2012 at 11:40am

Pay roll department authorizes payroll. They can not have custody of those cheques. It contradict the concept of ARC. Payroll department can not authorize and have custody of same cheques.

It should be give to any independent person other than parties who have ARC functions.

Comment by Addy on March 1, 2012 at 11:36am

Going over a Becker MCQ concerning segregation of duties.  Please let me know if you have a correct answer.

If a payroll clerk distrubutes signed payroll checks, and there are checks left undistributed... why is it not ok to return these checks to the payroll dept?

 

In a real life scenario, who would take the unclaimed checks?

Comment by Madhavilatha on February 28, 2012 at 12:41pm

How important are the flow charts for exam point of view?especially financing and investing transaction cycles?

Comment by Mary Kotowski on February 22, 2012 at 11:31am

I'm right there with you Myra, this is some boring stuff!  I'm sitting for the exam on the 29th so I am in "crunch week".  I am finding that for me working through the MQs and Sims are the best way to solidify the concepts with AUD.  For the MQs especially I have been trying to analyze all the answer choices and determining why they are correct or incorrect.  Its those darn tricky little details that should be more obvious but aren't!! To liven things up I switch between book MQs and Wiley Test Bank.  I have declared today to be SIM day.  Nothing but Sims, sun up to sun down.  Good Luck!

Comment by Myra Johnson Mba on February 22, 2012 at 9:48am

Studing for Auditing has been very challenging due in part because the information is somewhat boring...lol Struggling with memorizing the information.  Does anyone have suggestion, ideas, notes or anything that could possible assist.  Hopefully, I am not the only one that has or is struggling with the Auditing material.

 

Thanks Everyone

Myra

Comment by ANTHONY DIDATO on February 21, 2012 at 6:43pm

Hi all - I just got home 30 minutes ago from the gym and I immediately started to study.  My goal is to study for the next hour. I just reviewed my weak points according to my last "fail" for auditing. Now I'm going to re-do the MC questions for my weakest points....wish me well. I'll let everyone know how I did!

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