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Auditing standards - Query???

Resham (Carpe Diem !!!) (6535 Points)

02 January 2011

Good evening all my dear friends and respected elders...

I bought this book by Mr. D.S. Rawat for auditing standards and have started studying it... I have some queries regarding it...

-- Is it enough to read only this book or should it be clubbed with ICAI material?

-- I came by suggestions of some of my friends that it is better to complete auditing basic material first and if time permits, go for auditing standards, as not much is not asked from auditing standards. Comment.

-- This question is to those who are familiar with this book. I have heard from many (even on caclubindia) that it is a good book. The question is " How to make maximum/optimum use of this book" Explain.

Please help!

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15 Replies

Sunshine (Helping All) (10575 Points)
Replied 02 January 2011

i used only DS rawat's book and i can guarantee its the best buy....go through it..no need to refer ICAI material for all SAs..but see which SA is revised and which isnt...so refer accordingly ... i mean in some cases ICAI doesnt ask revised one so u can go to the ICAI material....

and SAs are most IMPORTANT!!!...in every answer u need to mention the SA....

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CS LLB Pulkit Gupta (https://www.facebook.com/pages/Life-and-Promises/553962034682487) (16631 Points)
Replied 02 January 2011

Hey Resham I am using this book.

*Auditing standards are very imp. and contributes 20-30 marks direct question and are used as reference in all the Q's.

*D.S. Rawat is a very good book.

*But I first used Surbhi Bansal as base book and afterwards referred it for some SA's . My experience was good. If you are over with ur base book then u can go for it...

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Sunshine (Helping All) (10575 Points)
Replied 02 January 2011

SAs are MOST IMPORTANT part of audit paper..just like AS in accounts..

CA.Pravinchandra (Executive (F&A)) (2387 Points)
Replied 02 January 2011

Yes Completely agree with Sneha..

First you sort the list of SA applicable for your exams and if any further revision made by ICAI then check reference book whether it is updated or not. If You have good reference book then no need to refer Study Material again. Only thing is You should understand Concept of Standard and its Applicability.

Good Luck.

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CA DHIRAJ SATNALIKA (Assistant Manager) (790 Points)
Replied 02 January 2011

This is a good book for students.. But if you get notes of any good teacher then it is a better option. Friend the matter is that for examination purpose whole material needs to be summerised in a confined way. This book is good but it may take time.. Anyways it is enough if u want to go for it. No need for the Institutes material..... Read this book to clear ur concept and just summmerise it in your own way in which u can remember......

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Hardik Dave (IPCC and CS Professional(FINAL) Student) (15533 Points)
Replied 02 January 2011

Hello friend, i use ICAI study material, with paduka, and 1 other book, u refer frm D.S.Rawat, that book also very good,

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ROHIT CHATURVEDI (CA Final Student ) (2298 Points)
Replied 03 January 2011

By giving due respect to all the above comments, I want to say that your friends are right to some extent. Ya it is true that in almost each answer, wherever possible, you have to give reference of SA's but the content of all the important SA's get covered in our chapters only. So if you have the idea you can easily support your answer with a suitable reference. Further to keep in mind the name and the number of all SA's is very important. so go through your chapters first and then if you have some time left with you, first go for the important SA's

I do not have any idea of Mr. DS Rawat Sir's book for Audit as I studied from Tapan Jindal.

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priyanka (CA Final student) (895 Points)
Replied 03 January 2011

i did nt refer d.s.rawat.....so, i really can't comment on whether this book is of great help or nt.......

(Guest)

hi dear ...i dont knw abt D.S.Rawat bcz i didnt read abt tht ...i had refered paduka book for auditing n it had a vast base of q .

@ ICAI material ....its gud 4 understanding bcz i had read frm tht also ..bt its too vast tht u cant summerise it. so if u r reading it 4 knowlege then its fyn ...bt if u r going 4 marks ...then i assure u dont go 4 tht buk ..bcz its ssssooooooo legthy.

yes auditing std is asked only once which is around 8 marks q ...n other question r based on judgements in which u hav to relate with AAS.so u must understand the AAS conceptually nt by cramming