Preparing for the AUD….Any Advice!
June 2, 2010 at 3:26 pm #157822
I am starting to study for the AUD, and I would like to sit for the exam in July. Is that possible? Does anyone have a study timeline to achieve this goal?June 2, 2010 at 4:07 pm #229084
That is totally do-able. I began studying for AUD on 4/20 and took the test on 5/28. I am using becker. I did one chapter a week and a final review the last week – this is when i do the sims for all the chapters. I made sure I had memorized the reports (standard, review, and compilation), mneumonics, and a skeletal stucture of the components. The skeletal and the mneumonics helped the best during the exam….but if i had to do it all over again I would still memorize the reports because you just never know with this exam. I am awaiting my test results…
Good Luck to you!June 2, 2010 at 5:50 pm #229085
I agree with magic_8. I started studying on 4/28 for my 5/28 test, and I had a lot of distractions during my studying time. I ended up having 2 1/2 days for review, which was perfect for me. When you study in such a short time period, you tend to remember more, come review time. I also agree that you should be very familiar with the basic reports- however, I did not memorize them and do not think it is that necessary if you really know the main parts of each. If you’re doing Becker, there are definitely mnemonics that are helpful in aligning all the info in your brain right before the test- but make sure you’re understanding them, not just memorizing. Good luck!!June 3, 2010 at 12:37 am #229086
Beginning or end of july? Either way its very doable. do 1 chapter a week, then 1 week of review and you should be fine.June 3, 2010 at 2:05 pm #229087
For AUDIT, do you recommend doing a review after 3 chapters or just wait til the end?June 3, 2010 at 3:09 pm #229088
I am just about to start studying for AUD as well. I did my study plan over the holiday weekend. My Becker material just expired, and I have 2009 books, so I am using my 2010 Wiley book. I have a work laptop that doesn’t support Wiley software, so I can’t use that, and my bank account won’t afford buying Becker again (work will only pay for it once). I’m thinking of studying the “old fashioned way” of using the book only. I’ll see how it goes, but am thinking of taking the exam in mid August, particularly since I know I have to take REG again, and maybe FAR (I’ll find out around June 20th).June 3, 2010 at 8:54 pm #229089
I’d review every 3 chapters. It’s too easy to get stuff in your short-term memory and lose it after a few weeks.
My general study advice is, know the standard report inside and out, as well as how it changes under various different opinions and circumstances. Know the audit standards inside out. Know the elements of internal control inside out.
Know the difference between compilation, review, audit, forecast and projection (and difference between forecast and projection).
Know the elements of audit risk and how they relate to one another. Know the difference between tests of controls and substantive testing inside and out, and what each is used for.
…. That should get you started. 😉
Erica.June 3, 2010 at 8:57 pm #229090
By far, the best advice on the AUD exam I got from my Wiley book: when you read each question, determine in your mind what piece of information they are testing, and review each answer to see if it actually relates to what is being asked. You can eliminate 2 answers immediately in MCQ almost every time by going to this technique.June 3, 2010 at 11:36 pm #229091
Ive waited till the end to do a reivew, since I usually study 1-2 chapters a week and therefore most of the stuff is still in the back of my mind..even from chapters 1 and 2. I do a final review 1 day (though i should spend 2 days) before the test and I’v e passed bec/far on my first attempt and just took AUD 1st attempt and feel that I’ve passed. So this strategy definitely works. But in all honesty, because one method works for me..doesnt mean that it will work for anyone else. If you are taking the CPA exam you have had a certain amount of schooling that should have required you to know what studying habits work best for you.June 4, 2010 at 12:49 am #229092
Thanks, dobat and Erica,
I am actually excited to start Audit because FAR is killing me. I need a change!June 4, 2010 at 6:18 am #229093
This is great advice. I also want to take auditing for the first time in early Ju.y. I’m using Roger with wiley.June 4, 2010 at 7:55 am #229094
If you have studied FAR – there is sime overlap in the Fin Reports. Becker has some good tips on recalling some of the information.
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