27 October 2013
In Auditing, there are certain words/group of words which are used quite frequently like” Sufficient Appropriate Audit Evidence”, “Nature, Time and Extent of Audit Procedures to be performed”. So these words have to be mugged up. In Auditing there are three leading case laws:
Keep these case laws in mind and write them if something comes on the above topics.
If possible, read Company Audit from the bare Act because in the module and other reference books the topic is given in a very scattered manner. If you read bare Act once and then read the module/reference book, you will be able to grasp it pretty quickly and since company audit holds a great significance in terms of marks, I strongly recommend you to refer to the original Act. You need to read only 6-7 pages of the bare Act to finish Company Audit and I think you should go for it.
27 October 2013
Also give special attention to SA and AS. Only good knowledge of SA and AS is not enough but you must understand the technique to apply SA and AS in audit practical problems. For this purpose refer ICAI suggested answers and observe the application of SA and AS to the problem. Another benefit of this task is—it also helps you to understand SA and AS in a much better way.
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