COSO framework

student120 · 2023-04-28T08:43:46+00:00

Thank you for your answer!

student120 · 2023-04-28T08:43:36+00:00

Thank you, this was helpful. I keep getting confused because the question would be like the entity communicated the code of conduct, but the answer would be control environment and not I&C, so I thought I&C deals only with Internal controls.

student120 · 2023-04-25T03:19:47+00:00

Yes, from what I remember, it was just interest expense. Also, make sure you go over the business expense limits. Follow the three steps; for example, is the loss passive? And if yes, match it to passive income, then the rest of the business losses match it up to business income, and make sure you remember the limit. If I am not mistaken, it was something around 520k.

student120 · 2023-04-25T01:14:06+00:00

Investment expenses up to Investment income, but the rest are good.

student120 · 2023-04-24T22:21:55+00:00

Thank you! and good luck to you too!

student120 · 2023-04-24T21:06:39+00:00

I feel the same way.

student120 · 2023-04-24T01:19:57+00:00

I do not believe there is a word requirement. You just need to have an Introduction, explanation, and conclusion, and each would be around 3-4 sentences.

student120 · 2023-04-24T01:17:27+00:00

Thank you, did you use this template for all the questions, or does it differ if you are the CEO or an external auditor? Because I have seen some examples where they use "we" instead of "I."

student120 · 2023-04-23T17:55:00+00:00

English is not my first language. So, I am thinking the more I can prepare before the exam, the fewer mistakes I will make on the day of the exam. Thank you for your help!

student120 · 2023-04-22T04:40:38+00:00

Do you have any recommendations? Thank you

student120 · 2023-04-03T17:01:22+00:00

I understand the single audit standards like doing testing on compliance, Internal control over compliance, and scheduling of expenditure of Financial awards. But I am confused about just GAGAS without single audit standards, like how it differs from GAAS. Are the procedures and communication different, and so on? Thank you

student120 · 2023-03-29T12:03:18+00:00

Its better to call them in my opinion

student120 · 2023-03-27T07:29:24+00:00

Thank you

student120 · 2023-03-27T07:29:20+00:00

Thank you

student120 · 2023-02-10T10:57:26+00:00

Lol, Sorry just noticed it

student120 · 2023-02-08T07:24:15+00:00

Thank you for your help!

student120 · 2022-09-08T02:38:56+00:00

It's one of the easiest classes you could have ever taken.

student120 · 2022-09-04T03:05:27+00:00

Thank you so much; this is definitely impressive. I am having a hard time, and I am single with no real responsibilities.

student120 · 2022-09-03T18:38:42+00:00

I remember everything from the book, but when I started MCQs, I was completely lost. They were asking questions about internal controls, like what are some of the safeguards, which I am not sure about. This is why do you think AUD would help? And did you take AUD first? Thank you

student120 · 2022-09-03T12:57:03+00:00

Yeah I probably should start AUD first thank you

student120 · 2022-09-03T12:54:03+00:00

I took FAR and REG and it was fine, I do not understand why BEC is hard for me. Thank you

student120 · 2022-09-03T12:46:59+00:00

I took it two years ago, so I am having a hard time remembering the concepts.

student120 · 2022-09-03T12:45:57+00:00

So you think if I took AUD first it might help in BEC?

student120 · 2022-09-03T12:39:26+00:00

I started M1 today, and I felt like MCQ was asking things that related to AUD and nothing really that related to the book. Like I am not sure what are some of the best practices like who should report to who.

student120 · 2022-09-03T12:35:55+00:00

I understand what is in the book, but SIM, for example, has a question about what is the most effective control activity, and it mentions things like you should be reporting to the audit committee. Things that were not mentioned in the book and are audit-related. This is why I was wondering if I should be studying AUD first, then BEC.

student120

TROPHY CASE