[Anonymous]

Should I try to memorize all of the reports for AUD or is that a complete waste of time?

[potatogun]

Word for word? No. But you should understand the paragraph and the modifications to them.

You should know about if assurance is given or not. What are the responsibility of the parties? Is there anything to disclose like with projections?

Some say knowing them word for word helps, but depends how you remember them in your studying. There can be some questions about whether xyz phrase is in this situation or not.

FAR 92 - AUD 91 - REG 94 - BEC 86

[Anonymous]

This is always a difficult question to answer. If someone takes AUD and passes it on the first try…and there were no direct questions that would relate to memorizing the reports…that person will tell you that you don't have to memorize them.

As one who has now taken the AUD exam multiple times (how pathetic is that?!)………MEMORIZE THE REPORTS IF YOU'RE TAKING AUDIT.

Let's just say that on 2 of my exams it would have been EXTREMELY beneficial if I had committed the reports to memory.

I wish I could explain more in detail but you all know that I can't……..

[Anonymous]

Dumb question, will I need to know that AU 120 means professional standards or pretty much ignore those numbers when I study?

[potatogun]

I think the main standard to know is just 101 referring to Independence. Otherwise you don't really need the number to refer to.

FAR 92 - AUD 91 - REG 94 - BEC 86

[NJCPA2B]

Don't ignore the other reports, e.g., Internal Control, Special Reports…..

You should know all the reports in general. You don't have to memorize any of them “word for word”.

BEC=77, FAR=78, REG=73,74,80, AUD=70,69, 84 DONE!

[jeff]

Don't memorize them, but know know how the order of the paragraphs differ for each report and each circumstance.

I cover this extensively in my AUD reporting notes…

https://www.another71.com/cpa-review-store/

Support the site and get a great set of review notes. If you think they suck (which you won't) 🙂 I'll refund your purchase.

-Jeff

[75 CPA]

Memorize the audit report! Then know how the audit report differs from other reports.

You will not be asked to write an audit report on the exam. However, you will be asked to fill in the blanks of a report from a drop-down menu. It is imperative that you know what to put into those blank spaces. No report is too obscure for the AICPA!

The AICPA also loves to mess with your brain by quoting a sentence in a multiple choice question and asking what report that sentence came from.

This AUD exam has kicked my butt. It is a tricky word game. AUD is the easiest exam to study and the most difficult exam to pass if, like me, you only had a correspondence course in Audit.

Unlike the other exams, I have had to do 3,000 multiple choice questions on AUD to get an intuitive feel for the correct answer. The AICPA can only ask questions in so many ways, and they will often ask the same questions on the exam that you worked in your homework.

[Author]

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