Audit Cpa Notes

In: Business and Management

Submitted By angelamukalel
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NINJA CPA REVIEW®

NINJA Notes 2015
Auditing & Attestation

Table of Contents
The N.I.N.J.A. Framework
I. Engagement Planning 8
II. Internal Control 25
III. Auditing & IT 36
IV. Evidence & Risk 42
V. Audit Reports 57
VI. Audit Sampling 66
VII. Professional Responsibilities 77
VIII. International Auditing 84

2

The N.I.N.J.A. Framework
NAIL THE CONCEPTS
Watch your CPA Review videos first – before working any assigned homework questions.
The CPA Review industry says to watch a section of CPA
Review video and then work the accompanying MCQs. This perspective stems from the old-school approach to the paper and pencil exam where you had to sit in a live classroom and learn from an instructor on weekends.
Today, there is a smarter way to study. You don’t have to go to a weekend live course. You can fire up the laptop on a
Tuesday morning and knock out two hours of material before you even brush your teeth. If you work MCQs in week one over your week one topic, guess what? You will work them again in week 5 or 6 when you review because you will forget what you learned.
If you watch a video in week one and score an 85 on the corresponding MCQs, will you be able to score an 85 four weeks later? Not likely. You will need to work them again anyway and it’s not a smart use of study time.
Instead, let the N.I.N.J.A. Framework guide you.

INTENSE NOTES
Repeat after me: “PUT THE HIGHLIGHTER DOWN.”
Which method do you think will help you learn the material better – painting printed words in a book with pretty florescent colors or writing them down on a legal pad and thinking about the information?

3

Grab a stack of legal pads, put the highlighter down, and start writing.
Many people have said that instead of taking their own notes, they just re-write the material inside of this study…...

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