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Smith Sam

03/15/18 6:33 AM

#113482 RE: General Grievous #113470

CPA exam is easy to pass. Just practice and read on average 100 hours for each part and anybody with an average IQ can pass that exam. And, further you need a year or two of public accounting experience depending on the state to get your license. It's not rocket science.

Does your cousin know this was a three year, initial audit? I guess not.

I understand the point to exaggerate here. But common give me a break. One year of regular audit could take from a month to three months. This is an initial audit with three years of work. Six months is very normal.

Ask your cousin again, he will now agree to every statement that I made here.

$AMFE!
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SeatonBM

03/15/18 7:06 AM

#113488 RE: General Grievous #113470

BS, who cares what a CPA has to say about an audit. Auditors would have the insight on the process... Auditors here have stated that it's normal. What initial audit didn't take awhile?
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cwhockey31

03/15/18 9:59 AM

#113530 RE: General Grievous #113470

Lol - that doesn't even sound like a response any CPA with public accounting experience would ever say. Rarely is there ever "book cooking" in 99% of the audits performed. 99% of the time it's errors caused by different accounting methods being used. The auditors stay up to date with all the new accounting standards and methods since they deal with many companies across many industries on a weekly basis; that's why they can find errors or recommend a better way to account for something. And actually, you would be surprised how much more auditors serve as consultants to their clients to help with accounting methods.

Seriously, shoot your cousin a text and ask if it would take this long when it's a first year audit client with three years under audit, multiple subs, multiple acquisitions, and it's currently 2.5 months into the auditors busy season. Today's the corporate tax deadline 3/15 in which the auditors need to have the certain clients' financials audited and complete for the tax teams to prepare the tax returns.

If you don't want to post your cousin's response to the above question publicly, let me know in a PM.

GLTY