I am an IT person and recently was hired by a CPA firm to do IT
Auditor and Staff Consultant. I was given an AICPA booklet and answer
sheet and told to go to this website and finish/complete and pass said
exam. Easy enough. I log on, take the 85 question test with no
instructor/computer training and find that my score is 65 with 70
being the passing threshold. Frustrated, I get some material from
AICPA, read it, read it again, and then take it only to get a 51.
Subsequent attempts get me as high as 67, but never to pass it. Now
I've exhausted my 7 attempts at passing and I'm extremely frustrated.
I've had no formal training, there is little structure here at this
firm to aid in 'training', and I've even had 3 lead managers (who
never took this exam) over my shoulder and answered several of the
harder questions, and never could get my score higher than a 67. They
all agree, that this test is heavily worded, hard to read, and
designed for CPAs, by CPAs, and for an IT guy to take it, seemed
My question is, are there better resources than a document called,
"AICPA Plain English Guide to Independence" dated Sept.30,2006? I'm
not saying this document isn't relevant, or even accurate. I'm asking
are there more resources that ask better questions and give better
Thanks, and have a great day.
I don't know about good resources, although I'm sure there are some out
there. What I think will help is that you take the Perry Mason or Columbo
approach. Look at the situation from the viewpoint of the investor. Is
there ~anything~ fishy about the situation that the most suspicious investor
would squawk about? It's probably an independence problem.
I'm not sure if "Independence training" is the same as the Ethics
requirement for CPA registration/licensing requirements in some
states. Independence is a subcomponent of ethics. Check out
the state of IL ethics requirement and associated training CD:
Their CD helped me get the 90% passing score needed for CPA
Thanks, but I'm not a CPA, nor will I ever BE a CPA....
I am an IT Auditor, an IS guy, not an accountant. Having been hired
on by a CPA firm to do IT Auditing, they're pushing me toward learning
some basic CPA stuff. When I heard basic, I thought, debit/credit,
asset & liability stuff. But when I read thru this independence
stuff, I realized it's not terrible, just tricky. Basic independence
is not a problem, it's the whether you are independant from a parent
company to a subsidiary, from a public company or a publicly traded
company. It all gets blurry when you have governing bodies that have
more AND less restrictive guidelines.
Now I'm not bauking at the need, just the lack of guidelines, training
resources, etc. As one of the accountants told me, it's the 4 years
of accounting training he's had that taught him all he knows. After
he looked at some of the questions, he felt like he didn't know as
much anymore... They are actually hard for seasoned CPAs. Which is
why I asked...
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