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FAILED AUD 2x!!!! HELP!!??
Last Minute Crunch Time! and I still have 2 chapters to review. =( Which chapter/topics should I pick?
Equity Method Question
Audit Strategies after IPO and Capital Raising
Can anyone please give me the explanation for this question:
As a result of tests of controls, an auditor assessed control risk too low and decreased substantive testing. This assessment occurred because the true deviation rate in the population was
Less than the risk of assessing control risk too low, based on the auditor's sample.
Less than the deviation rate in the auditor's sample.
More than the risk of assessing control risk too low, based on the auditor's sample.
More than the deviation rate in the auditor's sample.
Wiley's answer is (d) and in the explanation the book says that the auditor concluded inappropriately and hence the answer,
But in the question nowhere it is mentioned that auditor concluded inappropriately. How to understand these type of questions?
How important if Auditing Sampling? Approx how many MCQs or Simulations can we expect? I feel a bit confused to memorize the formulas...
Carolyn - I like this one: http://www.knowledgeleader.com/KnowledgeLeader/content.nsf/Web+Cont...
Thanks Colleen! I will check that out.
Found an interesting group, not many posts though...
Hi Carolyn - you might Google on Flowcharts for Internal Controls. I believe this is the area that deals with the various symbols that are laid out like an org chart that show the flow of business processes for each area of operations. For example, the Purchasing Department diagram, or flowchart, would show the purchasing procedures in a pictorial way from start to finish and each electronic or manual document that is involved. Hope that is the right information for you! Anyone else able to confirm?? It has been a long time since I took AUD. I passed a few years ago and lost credit because I could not pass all 4. Now I am back to taking AUD again in the July/Aug window. Ugh. Not looking forward to addition of IFRS.
I'm taking AUD on May 19 or 26
I'm studying for AUD to be taken late next month. I've been told about a diagram on onternal controls. Is anyone familiar with this? If so were can you find a copy or something similiar to it?
Hi - Just got in from working out and I want to forget about studying...It's beautiful in Chicago....! Argh!
OK - I'm going to grab my stuy material and head back to the park to study for the next hour and 1/2.....wish me well!
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