how to prepare audit in less time?

HOW TO PREPARE AUDIT IN LESS TIME

how to prepare SAs

i will suggest you to that not to learn or cram all SAs as it would be very difficult for you as they cover approx 80 pages.

get compiler and point out which SAs are more important and get a reading of them very carefully.

after getting a reading try to make very short note of them to remember only their headings.

these short notes are called mnemonics .

a example of mnemonics is given by me on SA -315 is at the last of this page.

now in exam just write down the heading and use your own language for answer on the basis of the reading that you have taken .

but not try the simple language try to introduce those words in your language which are mostly used in audit by this you will show the examiner that you have enough understanding of SAs.

for example the word appropriate is mostly used rather than relevant.

and if you can not do these things then only take reading of only those SAs which you have already read in pcc or ipcc.

one more thing about audit paper is that not to leave

1. AS

2. Audit of special aspects.

3. Professional ethics.

these three chapters.

talking about AS i hope you have already covered them in accounts.

and about last two chapters they cover only 70 to 80 pages and in paper their coverage is of 30 to 36 marks.

Any further query is welcomed ...

Hope you will like my advice.

ARVIND.

SA-315

The gist is                  MD           ka                POWDER

M--------Material misstatement risk assessment

D--------Definition

                                         Ka

P--------Procedure of risk assessment & related activity

O-------Objective

W-------Weakness in internal control

D--------Documentation

E--------Entity & its environment understanding including the internal control

R--------Relevant controls understanding and its nature & extent