So it is fine to be studying them together. I also think it is probably the best 2-exam combination at the applied skills level. The subject matters are complementary – FR is principally about preparing financial statements – AA is about auditing it. It is essential to grasping AA to understand where the balances and transaction amounts come from – how do they “get into” the financial statements.
I also think it is good to balance the study of AA which is almost 100% “written” with an exam which includes relevant calculations of amounts in financial statements.