[Anonymous]

Hey Guys,

I took auditing in October and failed with a 64. I kind of just glanced over the book and just did non stop McQs and tried learning by doing just McQs and getting them wrong. This time (I’m retaking it at the end of January), I’m reading the chapter and making notes plus using ninja notes. However, I feel there is so much to remember for this exam, and I get brain fog after doing McQs for a half hour.

How did you guys study for audit? What topics did you focus on? I have reg and bec finished and I don’t want to fail audit again. Any advice would be greatly appreciated. Thanks and good luck to everyone out there.

[Anonymous]

Anyone have any advice?

[Anonymous]

Anyone have any advice?

[Determined CPA]

Read the book as many times as you can.

A - 75
B - 78 God is good.
F - 77 Answered prayers.
R - 84! Done!!

Paperwork sent - waiting for license!!
Still on a cloud and in shock. Through God, all things will happen.

[Determined CPA]

Read the book as many times as you can.

A - 75
B - 78 God is good.
F - 77 Answered prayers.
R - 84! Done!!

Paperwork sent - waiting for license!!
Still on a cloud and in shock. Through God, all things will happen.

[Anonymous]

@digi2003. First I tried it their way (cramming and CPA review course) and I failed. Then studied the way I study audit understanding and logic. Then I passed. Read the book, know your report formats draw columns show comparisons. Understand IC and Risk Assessment process (this area will kill if you don't understand). Know the minor areas International Audit and Government/Yellow Book 10-15% can be difference between pass or fail. Do as many mcqs & Sims if you feel like you are cramming write them down but keep at it. If I can pass you can pass I am not a genius (just someone with a sore bum and a little determination because I miss my regular life). Oh and know your standards and how they fit in especially the AICPA standards from Prof. Standards to Audit (private and issuers). Know which standards were officially adopted by PCAOB etc.

Goodluck, and remember you might needs to adjust your study methods for some other parts.

[Anonymous]

@digi2003. First I tried it their way (cramming and CPA review course) and I failed. Then studied the way I study audit understanding and logic. Then I passed. Read the book, know your report formats draw columns show comparisons. Understand IC and Risk Assessment process (this area will kill if you don't understand). Know the minor areas International Audit and Government/Yellow Book 10-15% can be difference between pass or fail. Do as many mcqs & Sims if you feel like you are cramming write them down but keep at it. If I can pass you can pass I am not a genius (just someone with a sore bum and a little determination because I miss my regular life). Oh and know your standards and how they fit in especially the AICPA standards from Prof. Standards to Audit (private and issuers). Know which standards were officially adopted by PCAOB etc.

Goodluck, and remember you might needs to adjust your study methods for some other parts.

[Anonymous]

I'm not attempting an audit retake until I take FAR. I read somewhere on this board that audit is a lot easier after FAR.

[Anonymous]

I'm not attempting an audit retake until I take FAR. I read somewhere on this board that audit is a lot easier after FAR.

[ricky33]

Hi good luck man and thanks for sharing this post with us.

[ricky33]

Hi good luck man and thanks for sharing this post with us.

[Anonymous]

Although I barely passed AUD, here are some strategies that helped me understand the AUD concepts easier. It might or might not help you.

1. If you're having a hard time memorizing the different acronyms such as the types of reports and the contents. Try to make your own acronym. For a review report for example, Becker uses the acronym, “AMISAD MR FIR SALA”(WTF???). Instead I tweaked it a little bit and used “AMISAD MR DIM ARSALA” because it's similar to the audit report acronym and the acronym letters used are more relevant.

2. If you keep on forgetting certain concepts, try to relate that concept to an “experience” that you might have had or seen.

For example: Financial Forecasts vs Financial Projections. Relate financial forecasts to weather forecasts that you see on the news. Weather forecasts are generally broadcasted publically on TV, and are usually backed up by evidence. But if Meteorologists forecasts an asteroid to hit earth, they will probably keep that information PRIVATE to prevent any chaos. THEREFORE, Financial forecasts are for general use or private use.

Financial Projection: Relate this to a fortune teller. When you ask them “What if” scenarios, they will give you hypothetical statements based on their projections. THEREFORE, financial projections are for private use only.

3. The only thing I memorized straight-up are numerical figures/requirements such as the independent requirements. There was a post a while back where someone listed all the numerical facts and that was very helpful. If I can find it, I'll post the link here.

[Anonymous]

Although I barely passed AUD, here are some strategies that helped me understand the AUD concepts easier. It might or might not help you.

1. If you're having a hard time memorizing the different acronyms such as the types of reports and the contents. Try to make your own acronym. For a review report for example, Becker uses the acronym, “AMISAD MR FIR SALA”(WTF???). Instead I tweaked it a little bit and used “AMISAD MR DIM ARSALA” because it's similar to the audit report acronym and the acronym letters used are more relevant.

2. If you keep on forgetting certain concepts, try to relate that concept to an “experience” that you might have had or seen.

For example: Financial Forecasts vs Financial Projections. Relate financial forecasts to weather forecasts that you see on the news. Weather forecasts are generally broadcasted publically on TV, and are usually backed up by evidence. But if Meteorologists forecasts an asteroid to hit earth, they will probably keep that information PRIVATE to prevent any chaos. THEREFORE, Financial forecasts are for general use or private use.

Financial Projection: Relate this to a fortune teller. When you ask them “What if” scenarios, they will give you hypothetical statements based on their projections. THEREFORE, financial projections are for private use only.

3. The only thing I memorized straight-up are numerical figures/requirements such as the independent requirements. There was a post a while back where someone listed all the numerical facts and that was very helpful. If I can find it, I'll post the link here.

[Anonymous]

Found it! Here's the link to the numerical facts listed by amordiva.

https://www.another71.com/cpa-exam-forum/topic/aud-review-period-feeling-discouraged

[Anonymous]

Found it! Here's the link to the numerical facts listed by amordiva.

https://www.another71.com/cpa-exam-forum/topic/aud-review-period-feeling-discouraged

[Anonymous]

Hey thanks a lot for that! And thanks to all who posted advice. I feel like/have heard that everyone has at least one “beast” that gives them the most trouble. I feel like this will be AUD for me. Very annoyed over my 64 back in October so trying the same method that allowed me to pass BEC on the first try. Reading ninja notes and slowly going over the textbook and making my own notes.

[Author]

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