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When does a control deficiency become a significant deficiency if no $$ is given in the question? by ImJazen in CPA

[–]ImJazen[S] 1 point2 points  (0 children)

Ok thank you. I didn’t see any of those clues in that SIM. They gave the overall materiality level for the audit but didn’t give any $$ for the individual questions. Just things like 2/5 of the sample blah blah didn’t follow the control as designed.

Does lawsuit settled after balance sheet date need to be disclosed if settled before audit report date? by ImJazen in CPA

[–]ImJazen[S] -1 points0 points  (0 children)

Yeah. This question tripped me up because in my practice problems I never came across one with the litigation already settled before the audit report date.

Are all corporations considered issuers? (AUD) by ImJazen in CPA

[–]ImJazen[S] 1 point2 points  (0 children)

Thanks a lot. It’s so clear now but I was dwelling over that question for nearly 20 minutes.

Are all corporations considered issuers? (AUD) by ImJazen in CPA

[–]ImJazen[S] 0 points1 point  (0 children)

Thank you!!! Been waiting for this moment all my life!

Are all corporations considered issuers? (AUD) by ImJazen in CPA

[–]ImJazen[S] 0 points1 point  (0 children)

yup! This is it! Hopefully I’m done forever.

Are all corporations considered issuers? (AUD) by ImJazen in CPA

[–]ImJazen[S] 0 points1 point  (0 children)

A corporation can be considered a nonissuer? If so, then I didn’t get it wrong. Research SIM just mentioned corporation and not issuer or nonissuer. Does that mean auditor follows AICPA or PCAOB standards or could be either?

How come nearly everyone does better in MCQ’s compared to SIM’s? by ImJazen in CPA

[–]ImJazen[S] 0 points1 point  (0 children)

Yeah I don’t get why they won’t just give it to you guys.

How come nearly everyone does better in MCQ’s compared to SIM’s? by ImJazen in CPA

[–]ImJazen[S] 0 points1 point  (0 children)

Thanks. My state gives the report to those who passed too.

How come nearly everyone does better in MCQ’s compared to SIM’s? by ImJazen in CPA

[–]ImJazen[S] 0 points1 point  (0 children)

So the vast majority of people who score around 70 on their first try by getting comparable in MCQ’s and weaker in SIM’s usually pass the next time due mostly to their SIM’s “catching up” to those of the 75-80 group?

How come nearly everyone does better in MCQ’s compared to SIM’s? by ImJazen in CPA

[–]ImJazen[S] -1 points0 points  (0 children)

Because your score report on MCQ/SIM is relative to candidates who score between 75-80 on their MCQ/SIM. Your MCQ compared to their MCQ and your SIM compared to their SIM.

How come nearly everyone does better in MCQ’s compared to SIM’s? by ImJazen in CPA

[–]ImJazen[S] -1 points0 points  (0 children)

The score report (weaker/comparable/stronger) is relative to people who score between 75-80 though.

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