CPA Audit Mnemonics and Principles – Complete Reference Guide for GAAP, Attestation, Internal Control, and Reporting Standards

10 Generally Accepted Accounting Principles
TIP PIE ACDO ✔✔TIP PIE ACDO
General= Training, Independence, Professional Care;
Fieldwork= Planning and supervision, Internal control, Entity and environment;
Reporting= Accounting gaap, Consistency, Disclosure, express Opinion

Contents of Scope Paragraph of Unqualified

APMEAM ✔✔APMEAM x 2 Audit conducted in Accordance, Planned and Performed Material
Mistatement, Examined Evidence Accounting Principles Assessed, significant estimates Made
by Management

What are the 6 interrelated elements of quality control?

HELPME ✔✔HELPME
Human resources;
Engagement/client acceptance and continuance;
Leadership responsibilities;
Performance of the engagement; Monitoring;
Ethical requirements

What are the eleven attestation standards?

TIPPYPASSER ✔✔TIPPYPASSER 5 General=
Training and proficiency;
Independence;
Performance/due professional care;
Professional, adequate knowledge of subject matter;
Your belief that subject matter capable of evaluation against criteria that are suitable and
available to users;

Fieldwork=
Planning;
Appropriate,
Sufficient evidence;

Four Reporting= identify