hi mahesh,
really sorry for ur story...sorry for using the word "story" , its ur life..... but don mistake me, even u r responsible to some 5 to 10% for ur position. lemme explain.
evry article during his first year of articles is put in to small works or may not even be audits.
i can tell u something which iam very sure of.... real learning during articles is not from ur senior or ur principle .. ppl from whom we learn a lot is "the client & their employees".... see they may have sound knowledge of what they r doing daily...so talk to them in such a way that u extract all knowledge of what they do daily which might be of great value addition for u...
next thing...dont do any work without knowing it fully....s i accept some seniors do not have patience to explain the purpose of audit or sometimes they themself dont know.. but u should have that spirit to search for information abt what audit u r doin.... u should build good network of friends...and they cn help u a lot...
in bank audit- u shud have interacted with the bank employees and shud ve collected all informmation abt how do they process loans wht controls they have ...etc etc etc...that is actual learning.... also u shud have gone thru some material which explains purpose of bank audit and its methods....
vouching of IT declaration and proofs..- here u shud have gone thru the IT act for what purpose they require u to vouch ...weather it is required as per the act...n al n all.... u should try to know the entire process of what happens in computation of tax and filing of returns...
Purchase and sales vouching...-- this is THE most important aspect of articleship.... VOUCHING is like alphebets in any language ...upon which big essays and great things are recorded...... I would like to quote a line said by Mr CA Bhupathi ( ex- President ) "" if a client gives u a blank paper, a CA student should ask 1000 queries based on that blank sheet, then imagine how much should he ask if a printed invoice is given"""
so u should have aasked thousand questions to the client or any person with whom u correspond...
and some PF trust audit ...now tell me u know the key areas of PF act and Trust assesment as per IT act .... actually u should have read all tat provisions as soon as they had informed u abt that client../....
PLZ MAHESH DONT THINK IAM CRITICISING U these are my learning from my articleship
Hope u come up with good things happening in ur life soon.