AUD study plan - May

From what I have read/experienced memorization in audit is the key to passing. First we need to understand how it all fits together. Then we have to memorize, memorize, memorize all the details. When I finished the exam in February I had over an hour left! I used 30 minutes to go back over the simulations and I tested strong in that area. I was weak in almost all area's of the MCQ's, so I need to allocate an extra 10 minutes to each of the MCQ test lets and go over them. I was finishing the MCQ's in 30 minutes, so having 40 minutes will ensure that I have time to review anything I might have flagged for review.

"You either know the subject of the question or you don’t." This is the underlying thinking behind what people say when they leave, they either knew the answer or they didn't. I plan to go over all my material and notes twice. Since this will be a refresher it will go quicker this time allowing more time to concentrate on the MCQ's. 


Once I make my first pass through my material, notes, and MCQ's I will then memorize the standard audit, review and compilation reports. I plan to read these reports out-loud and practice presenting the audit reports to board of directors. Since I have had the pleasure to be included in my firms presentations I, at least, will know what to do and where to begin. In going through this I will focus on how each area relates to GAAS.

I have scheduled 42 hours for my initial review, and then 33 hours for re-review of MCQ's and memorizing the audit reports. In my schedule I made sure to give me Sunday's off. Now for those of you who think I am crazy right now, its just a spacer in my time schedule. I will most likely still study on Sunday's, its just not on my scheduled alloted time so that if something comes up I have 4 Sundays to use time to get ahead or catch up, whatever the case may be. I do have a family so my schedule has to have some flexibility planned within it, to ensure my sanity.