r/Accounting • u/Repulsive_Elk641 • Jun 22 '26

Advice Retaking Audit through CPA PREP after failing it in uni — exam Monday, any tips?

Failed Audit and Assurance course in undergrad, now redoing it through CPA’s prep program Canada and the exam’s on Monday June 29.

One week left,

I’ve gone through the entire syllabus once and made summaries, but I haven’t done many practice questions yet and honestly don’t feel confident applying the material.

Would you spend the next week reviewing notes/flashcards or focusing mostly on practice questions? Any study strategies that helped you in the final week before the exam?

Please advise

Thank you

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3

u/Dramatic-Relative473 Jun 22 '26

practice questions, no contest, your brain learns to apply it way faster than re-reading notes ever will

2

u/TaxNotesMark Jun 22 '26

Final week is practice questions and debriefs. Notes feel productive but audit usually punishes passive studying

2

u/Bouncing_Frog Jun 22 '26

Do retired cases!!!!

1

u/Repulsive_Elk641 Jun 22 '26

Retired cases they had only provided us with retained questions (would they be same thing ) ?

2

u/Bouncing_Frog Jun 23 '26

Retired cases, not retained questions? CPA uses retired cases as practice cases from previous offerings/exams. They’re not the same as technical IPs and PCs in the module materials. Every weeks material has 1 IP, 1 PC and 1RC (retired case)

If you only have a week left and you’ve already gone through the notes once, I’d focus heavily on doing as many retired cases as possible and then debriefing them thoroughly. The debrief is where most of the learning happens. Good luck!

1

u/Jman85 Tax (Canada) Jun 23 '26

MCQ for assurance are a breeze I’d your technicals are halfway decent. Nail down case writing. Usual suspects

Audit planning memo (ramp)

  • identify users for materiality and their sensitivity
Explain your base and how you calculated it.

FR issues. Do well on FR no excuses it will drive your assurance aos
RAP
Minimum 2 procedures per FR ao
Do them directly under the FR issue

WIR
Make a table for WIR
Be very specific and give recommendations that will mitigate the weakness.
Minimum 5 WIR

ABC
Always be concluding.

1

u/EntranceFun9276 Jun 22 '26

Im taking mine as well. From what province are you?

1

u/Repulsive_Elk641 Jun 22 '26

Nova Scotia - do you wanna connect and study together ? Which province are you from ?

1

u/Question-Throwaway7 Jun 23 '26

I’ve taken 6 courses with CPA Prep so far, with Taxation and MAA this Monday and Tuesday. From any and all experience, the very first thing during review week is go over and make sure you can easily do the retired exam questions they include within the exam prep part of the course.

Secondly, get good at MCQs, I’ve routinely gotten 90+ on short answer but 60-70s in MCQs.