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Ca final audit

aditi dadhichi (1339 Points)

02 April 2018

How do I prepare for upcoming exams I've not started yet for this particular subject.

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Pankaj Agarwal (Article and Audit Assistant) (301 Points)
Replied 02 April 2018

contact me agarwalp369 @ gmail.com or 8560859744

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Parminder Singh (744 Points)
Replied 02 April 2018

Start with SA's first. Then company audit and audit committee part should be done fast as most part is overlapping with law subject. Then do CARO, Then professional ethics. This part is a must. after this if you have time left then do fiscal audit first then bank and then nbfc then others.

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Rahul Prajapati (Student) (2282 Points)
Replied 02 April 2018

Audit is more of a practical subject, than a theoretical one. Start by the ABC method of chapterwise importance.

In Audit, the right phrases and words are important. Often, the language of the Institute is what pushes students to pass the subject. Whichever Author you refer to, make sure to refer to the PM as well to learn how to phrase your answers.
In Audit, start by writing the premise of your answer, follow it up by the definition (if any) and derive your opinion from the same.
Chapters like Professional Ethics and Standards of Auditing can carry 30–40 marks in totality. Learn the Professional Ethics and SAs and follow them up by reading different questions in the PM.
Chapters like Audit under CIS, Audit of Banks, Audit Report, Audit under Fiscal Laws, Company Auditor, Risk Assessment and Internal Control etc always appear in the papers. Look through the markwise distribution to mark the important chapters.
Learning the rest of the chapters will give you an edge, but do remember there are some chapters which seem to be vastly different. For example, Audit of Banks should be done from the PM rather than any author as the questions are markedly different.
Don't learn it blindly. Try and understand the matter first. If you have done your internship in an Audit based firm, this shouldn't be hard but chapters like Peer review can be difficult for some students.
Don't underestimate lines and sentences that seem to have no consequence. There have been questions asked for 4 marks from such innocuous seeming sentences.
You might not be able to complete the portion. Aim to tackle 85% of the chapters (markwise) well.
Read the RTP and amendments.