[itooshallpass]

I took FAR a couple days ago and I’m fairly optimistic that I passed (knock on wood). Took a short break and today I’m starting studying for Audit. Does anyone have any big-picture tips for how to tackle this section? I got good grades in audit in school but really disliked it, don’t remember a lot, and have no practical experience in the area. Right now my brain is still stuck in FAR mode and trying to adjust to the differences I’ve seen one chapter in. Lots of words… I prefer formulas and JEs lol…
Anyway I would appreciate some advice on studying Audit successfully. Thanks.

[Recked]

I spent a week watching all the videos. I think it helped to bring it all together for the big picture.
See the forest for the trees or whatever bullshit he says.
Limited notes, but be sure to write down the mnemonics.
I'd also suggest rewriting those mnemonics everyday to commit them to memory.

[itooshallpass]

That's good advice, thank you! I've already taken WAY too many notes.

[itooshallpass]

Bump… I'm already feeling stuck. Any advice would be appreciated 🙂

[Recked]

Sat for AUD today, advice is still the same.
Watch all the videos as fast as possible, only taking notes on the Mnemonics. Alternatively you can mark them in the book with a post it to revisit at a later date. As soon as you are done with the videos start working on the MCQ's. Pay attention to your scores and find your weak areas.
Watching all the videos right off the bat will help you get an overall picture of the material and how it all fits together.

[itooshallpass]

@Reckedracing, thanks again. Did you read much? there's so much reading!

[tygolfer]

I would understand the language of the auditors report, as well as the wording of the different opinions and paragraphs. I wouldn't necessary memorize the opinions or paragraphs, but have a good idea the wording used. This really helped me, especially with the sims.

At the end of the day, I thought AUD was much less memorization and more recollection. Try and think big picture with AUD and you will be fine.

[tygolfer]

Oh and knowing audit procedures, evaluating evidence, and internal controls are huge. I think the professional responsibilities section is kinda common sense, but still make sure to read that section over well also.

One thing that definitely helped me piece everything together was just reading through plenty examples of Auditors Reports that I found online, for all the different scenarios.

[Anonymous]

Agree with @tygolfer. Know and understand the whole audit process and understand which audit procedure(s) is(are) the best one(s) for a condition. Instead of memorizing, understanding then memorizing the key words in the auditor report will save your life.

[PTBP2018]

For me, getting started in Audit was VERY tough. I was getting questions wrong constantly (I use Becker). I went through the material. From there, 1 week before the exam, I created a binder and wrote out notes for each chapter. I focused more on my notes than doing progress tests. I made sure I understood the Audit Reports. Then, I studied my binder for a few hours before walking in to the exam.

Audit is the only exam I have passed on the first try. It's also the only one that I felt like I mastered on the first try. I changed my whole approach by creating this well-organized binder of notes. My approach changed because someone on this Forum recommended doing this way – and it worked. Read the book. Read a few pages that you already covered in prior weeks – each night before you go to bed. Read on your lunch. Read read read the book.

I take FAR tomorrow. I am doing well on the practice, but there are so many details that…I am not feeling as confident as I probably should. I am going to take it slow today and try not to let my nerves get the best of me!

[taxman89]

Audit was tough for me, took three tries. I would highly recommend the AUD audio. i prolly listened through that 50 times. just put it on in the car for your commute every single day. it wont all stick every time but the repetition is great. Also pound the mcqs. When i got to the point when i was seeing Qs again i would make myself explain why the wrong answers were wrong. That way i knew that i actually knew the answer to the Q rather than just remembering that the answer was C

Aud-75 3x I knew i never liked you
Bec-77 1x being in the bubble is stressful
Reg-82 4x its not me its you...and no we cant be friends
Far-78 1x easiest section

[Anonymous]

For me the MCQ should be even more of a focal point for AUD just because it is so concept based rather than individual numbers problems. I would get through all your material in the same fashion you did for FAR but not worry about taking detailed notes, then really pound the MCQ.

[Author]

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