[mdrobbin]

From what I have read on here as well as been taught in my review course (Yaeger), it is a good idea to memorize certain Audit Reports. I’m confused on which reports I need to memorize.

Should I memorize the Standard Unqualified Audit Report, Review Report and Compilation Report?

Do I need to memorize the PCAOB report? How about any reports under Attestation Standards such as Examination Report or AUP Report?

So many reports… I’m lost on what I need to actually memorize! Can anyone provide insight?

FAR - 2012 - PASSED (YAEGER)
AUD - 2012 - PASSED (YAEGER + NINJA NOTES)
BEC - 2012 - PASSED (YAEGER + NINJA NOTES)
REG - 2013 - PASSED (YAEGER + NINJA NOTES + NINJA AUDIO)

ETHICS - 2013 - PASSED

DONE!!! Thank you A71 for all the support! Hiya!!!

[Whyme]

I would memorize all of the reports, better safe than sorry.

AUD- 71, 73, 87 Done!!!!!
BEC- 75
FAR- 72, 77
REG- 77

[jenuno01]

I strongly disagree. Do NOT memorize the reports, you'd be wasting your time. It's important to be familiar with the content of the reports, and I think the best way to be familiar with the content is by doing non-stop multiple choice questions. Focus on the rules around the organization of the paragraphs, types of opinions, and explanatory paragraphs.

Class of 2012

[MChro12]

The only report worth memorizing is the standard unqualified report since it is the basis for all the audit reports. You don't really have to sit down for an hour and recite it. It should all come after repetition. In addition, spend time understanding all of the explanatory paragraphs/modifications, etc…… You don't necessarily have to memorize the comps/reviews, just understand the format and the characteristics of each report and what it is explaining. As for the other reports, I'd say the same thing I said about comps/reviews.

Reg 77 (Aug 11)
Aud 80 (Nov 11)
BEC 79 (Jan 12)
FAR 80 (April 12)

[mdrobbin]

Ok that sounds reasonable. Yaeger said to memorize the standard unqualified, review and comp but I think they are just saying memorize the key points of each of those reports like Jenuno said. I just wanted a little extra confirmation from some people that have been through the exam.

Thanks so much for the feedback! This is exactly what I needed.

FAR - 2012 - PASSED (YAEGER)
AUD - 2012 - PASSED (YAEGER + NINJA NOTES)
BEC - 2012 - PASSED (YAEGER + NINJA NOTES)
REG - 2013 - PASSED (YAEGER + NINJA NOTES + NINJA AUDIO)

ETHICS - 2013 - PASSED

DONE!!! Thank you A71 for all the support! Hiya!!!

[MChro12]

I also agree with Jenuno. Doing multiple choice is the best way to learn audit.

Reg 77 (Aug 11)
Aud 80 (Nov 11)
BEC 79 (Jan 12)
FAR 80 (April 12)

[Texas27]

jenuno01 is right. You do not need to memorize any of the reports but you need to understand what specific words and phrases are used in each section of the standard report and how the standard report will differ from other reports. Memorizing the reports word for word is a waste of time in my opinion.

BEC - Feb 2012: 80
AUD - Feb 2012: 84
FAR - Apr 2012: 78
REG - May 2012: 90

Thanks Becker!

[jenuno01]

@Texas27 yep total waste of time! I totally get your concern @mdrobbin, I had the same question when I was studying for AUD, I would get freaked out by people who said they could recite the reports in their sleep haha! In the spirit of non-disclosure, it is safe to say you will NOT be required to write a whole audit report on the CPA exam, not yet anyway. 😉

Class of 2012

[latenight]

I agree with the above posters. I passed and did not memorize the reports.

Focus on knowing the differences between the reports.

AUD - 87
BEC - 76
FAR - 96
REG - 94

[mdrobbin]

🙂 thx again everyone.

FAR - 2012 - PASSED (YAEGER)
AUD - 2012 - PASSED (YAEGER + NINJA NOTES)
BEC - 2012 - PASSED (YAEGER + NINJA NOTES)
REG - 2013 - PASSED (YAEGER + NINJA NOTES + NINJA AUDIO)

ETHICS - 2013 - PASSED

DONE!!! Thank you A71 for all the support! Hiya!!!

[Texas27]

If you are required to recite a particular audit report on the exam that requires you to know the report word for word, the only way they could do that would be in the simulations, which means that it will be word for word in the research tab because all of the reports are listed in there.

BEC - Feb 2012: 80
AUD - Feb 2012: 84
FAR - Apr 2012: 78
REG - May 2012: 90

Thanks Becker!

[Tootsie]

Know all of the reports inside and out.

FAR - 76
AUD - 88!!! DONE!!!!!!!!
BEC - 76
REG - 77

never, never, never give up

[jenuno01]

@tootsie – I disagree. Not important to know all the reports inside and out.

Class of 2012

[Anonymous]

Memorize all the reports? :)..that made me laugh..lol..No way you're going to memorize all the different type of exceptions, etcetera, etcetera. who could do that? not even Harry Potter…

I say if you know the basics: standard unqualified, qualified/adverse, and disclaimer, then you're good to go as long as you practice the MCQs until you hate yourself for being an idiot and taking the CPAExam.

[wickedrentlover]

I got this tip from a coworker who went through this: Don't sit there writing out the reports over and over again trying to memorize them. Instead, at least once a day, just read through the reports. I use Becker, and I got the flashcards to aid in my studies. I take the subway to work every day, and I usually read while I'm on the train. My trick was to use the flashcard with the Standard Unqualified report as a bookmark, and just read that flashcard once through before I'd let myself start reading my book when I got on the train. It really helped, and by my exam date I had the standard report down!

REG (2/24/12) - 89
AUD (4/5/12) - 89
FAR (5/31/12) - 91
BEC (7/7/12) - 84

[Anonymous]

Don't memorize the audit reports. Just know what you talk about in each paragraph.

[Author]

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