audit sim

Hi i have my audit sim next week and i seem to be struggling with this has anyone got any pointers on what to revise avd the sort of questions will be asked any help would be really good. im quite worried bout this i am not sure what to except is it hard?

Comments

  • axl2derv
    axl2derv Registered Posts: 172 ? ? ?
    My tutor isn't even teaching us this. We have just got past papers to work from and the sim is in four weeks. I'm actually a bit worried.
  • shelle
    shelle Registered Posts: 27 ? ? ?
    we have not had one past paper to work from?! we havent seen one. im quite worried as my tutor just goes off in his little world talking - never in plain english and we have never ever picked up a pen done any physical lesson. i cant learn this way i need to be praticising what i learn doing exercises keep my interested and understand it more i know i am not going to pass this :crying:
  • axl2derv
    axl2derv Registered Posts: 172 ? ? ?
    You should try getting hold of the Kaplan book for unit 17. It's got sims in it to work from.
  • peugeot
    peugeot Registered Posts: 624
    Will this thread help at all?


    Kind regards
    Steve
  • peugeot
    peugeot Registered Posts: 624
    axl2derv wrote: »
    My tutor isn't even teaching us this. We have just got past papers to work from and the sim is in four weeks. I'm actually a bit worried.


    You're not the first person on here to say their tutors don't teach them the audit sim. I'm quite surprised that (presumably) you pay for the tuition but some of you don't seem to receive it?????

    Is this not something that you should be bringing to the attention of your college and/or the AAT?
  • mark130273
    mark130273 Registered Posts: 4,234
    well .dont think it will help at all...........plus audit it just common sense....


    ohhhh no...........im gonna fail then !!!

    hahhaha
  • peugeot
    peugeot Registered Posts: 624
    mark130273 wrote: »
    well .dont think it will help at all...........plus audit it just common sense....

    It may be to you but to others who do not work in audit and are made to do this optional unit because their college chooses it for them it is a different story altogether.
  • mark130273
    mark130273 Registered Posts: 4,234
    hey i have got to do audit for myself too..............and im still think its a stupid subject to try and teach.........

    we all have just sat there looking blankly while we are learning.......but its justlooking at everything and thinking the worst case ....

    well i hope it is !!!
  • *Sarah*
    *Sarah* Registered Posts: 172 ? ? ?
    mark130273 wrote: »
    hey i have got to do audit for myself too..............and im still think its a stupid subject to try and teach.........

    we all have just sat there looking blankly while we are learning.......but its justlooking at everything and thinking the worst case ....

    well i hope it is !!!

    Not really, there are certain processes you need to go through in a certain order. Is not common sense, I agree with Peugeot
  • Amber
    Amber Registered Posts: 3 New contributor ?
    IAP sim

    I recently completed the audit sim and passed it. It is common sense but it's only common sense if you have practiced simulations or questions like in the Kaplan textbook. The simulation on the AAT website is worth practicing. If you can answer these well and can understand the main principles then you should be fine.

    Just remember acronyms like SOAPMAPS and AEIOU and when to apply them. Sustantive testing & internal control systems are also worth bearing in mind as well as different types of communication between the auditors and the client.

    Good luck!!

    Amber
  • axl2derv
    axl2derv Registered Posts: 172 ? ? ?
    I would have prefered taxation as I like the number work but it's another exam to do on top of DFS.
  • Julia
    Julia Registered Posts: 78 ? ? ?
    As a tutor I would advise you all to practice as many questions as possible before doing the simulation. The simulations are designed to test your knowledge in such a way that would be expected of you in the workplace and are marked based on how professionally competent you come across. This means more than simply thinking the worse I'm afraid.

    As has already been pointed out the simulations expect a lot of professional judgement and students are expected to demonstrate this in the simulations. The threadlink by Peuoget is ideal for an insight as to the broad types of issues tested in a live simulation but to get question practice in I would recommend that you purchase some good quality study material from a reputable tuition provider.

    Julia
  • jackieshep
    jackieshep Registered Posts: 68 ? ? ?
    Amber wrote: »
    I recently completed the audit sim and passed it. It is common sense but it's only common sense if you have practiced simulations or questions like in the Kaplan textbook. The simulation on the AAT website is worth practicing. If you can answer these well and can understand the main principles then you should be fine.

    Just remember acronyms like SOAPMAPS and AEIOU and when to apply them. Sustantive testing & internal control systems are also worth bearing in mind as well as different types of communication between the auditors and the client.

    Good luck!!

    Amber
    Hi Amber,

    What does SOAPMAPS refer to please?

    Thanks
  • Bluewednesday
    Bluewednesday Registered Posts: 1,624
    jackieshep wrote: »
    Hi Amber,

    What does SOAPMAPS refer to please?

    Thanks

    I prefer OAPSPASM, much better visuals!!! It gives you a way to remember control methods to enable a good internal control environment- it stands for:

    Segragation of duties
    Organisation
    Authorisation
    Physical presence
    Supervision
    personnel
    access
    management
  • mark130273
    mark130273 Registered Posts: 4,234
    they never taught us SOAPSPAM in college ! thats cool !
  • shelle
    shelle Registered Posts: 27 ? ? ?
    nor me.... i am gonna so fail this i dont think i have dreaded a sim so much! which i hadnt of changed colleges thought we would of least gone thjrough one pratice sim. i agree its only common sense if u work with it.

    where can i get the kaplan book from?
  • jackieshep
    jackieshep Registered Posts: 68 ? ? ?
    Thanks Bluewednesday
  • mark130273
    mark130273 Registered Posts: 4,234
    got mine in 2 weeks time.... and im just learning soapscam !!
  • shelle
    shelle Registered Posts: 27 ? ? ?
    im still not getting this and got it first thing weds i have never prayed to get snowed in sooo much!! and i hate this weather:scared:
  • peugeot
    peugeot Registered Posts: 624
    What is it that you're not understanding about audit? If you could perhaps give me some details of the areas you are struggling in I could point you in the right direction.

    Kind regards
    Steve
  • mark130273
    mark130273 Registered Posts: 4,234
    well i wouldsay how to revise for something that is mostly common sense....
  • Gem7321
    Gem7321 MAAT, AAT Licensed Accountant Posts: 1,438
    mark130273 wrote: »
    well i wouldsay how to revise for something that is mostly common sense....

    I haven't had this workshop yet but I'm sure there must be a lot of technical learning involved?
  • shelle
    shelle Registered Posts: 27 ? ? ?
    that what i have stuggled to do is revise, with my tutor not giving us no simulations to practise or any exercises to do we are just told to read chapters for homework. i dont think i am going to get through it i have had a look at the one on here but that all i have done :(
  • mark130273
    mark130273 Registered Posts: 4,234
    well i am surprised that he hasnt give you an passed exam/kill test or even practice papers.. there is a few about........we had three to practice in total.
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