Why set Auto Update Statistics to False?
This is too long for a comment so I'll chime in with another case where one might want to turn off auto update stats.  I've worked with databases supporting high-volume OLTP workloads and a stringent query performance SLA in milliseconds.  Nearly all queries were trivial with a lot of attention to query and index tuning detail and some of the tables were quite large.  There wasn't much value in updating stats during peak periods in this situation and auto-update stats would violate the SLA.  Consequently, maintenance was done during non-peak periods via a scheduled job.

Another option is to turn on both AUTO_UPDATE_STATISTICS and AUTO_UPDATE_STATISTICS_ASYNC database options.  This will allow queries to proceed with execution plans based on stale statistics rather than incur the overhead of updating stats synchronously.  This is especially appropriate for an OLTP workload as long as the server is sized to accommodate the query workload plus the background stats update.