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Please help: in ca final, advanced auditing

SIVASIVA (FCA, Future CA) (4935 Points)

28 July 2013

My Dear Friedns...

I just want to KNOW the key areas which should be covered in Advanced Auding Paper.

In the last few attempts, i have not touched on Standards on Auditing and CARO. Even didin't cleare the previous GRoup1 Exams. Espcially i failled in Auditing by getting a meagre score of below 25 marks..

SO, DEAR FRIENDS, please suggest me, what are the KEY areas/topics to be covered. Is SA and CARO very important....

PLEASE HELP

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6 Replies

JAINENDRA JAIN (ACS/CA) (1668 Points)
Replied 28 July 2013

16 marks is from professional ethics.

make sure yoprepare it in a way that u secure 16 here.

10 marks from bank audit

10 from CIS

do SA and CARO

BY THIS MUCH U WLL SECURE 40+

NOW COVER THE REMAINING PORTION TO SECURE YOUR BEST

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Aditya (Chartered Accountant) (176 Points)
Replied 28 July 2013

Originally posted by : JAINENDRA JAIN
	16 marks is from professional ethics. make sure yoprepare it in a way that u secure 16 here. 10 marks from bank audit 10 from CIS do SA and CARO BY THIS MUCH U WLL SECURE 40+ NOW COVER THE REMAINING PORTION TO SECURE YOUR BEST

In addition to this, prepare Comapny audit (another imp topic) & revise the same from Practice manual.....

Also small topics like Corporate governance & Peer review come for short notes in last question. So accordingly you can score marks in these small topics also...

All the best

Vignesh (Chartered Accountant) (84 Points)
Replied 28 July 2013

SA's are very very important..... 10 marks come from AS 1-10, 16 marks Professional Ethics, Company Audit & CARO...Then CIS...These are topics u should not ignore....All the best for ur next exam

Sumit N Kashyap (Senior Auditor) (30 Points)
Replied 28 July 2013

SA's are very very important..... 10 marks come from AS 1-10, 16 marks Professional Ethics, Company Audit & CARO...Then CIS...These are topics u should not ignore....All the best for ur next exam

yes vignesh u r correct.

dear sivasiva, don't suppose to leave any topic. SA also play an important role in gaining more marks so don't be panic, try to do some SA which is given on practice manual bcz most question in audit were directly asked from PM . so atleast one time u should refer PM.

Ravi Kumar Prajapati (CA FINAL) (766 Points)
Replied 29 July 2013

Hey Sivasia don't talk like a children yaar.. this is not a B.com exam where you will touch the selected topic & get pass.. this is a professional exam you need to cover all the topic because there is no fix pattern of icai to ask in particular topics. the trend in not similar always.. so cover all the topics instead of selected topics..otherwise you will have to pay for this mistake..that i dont want..so be wise and cover all the topic & follow this strategy to crack audit paper of CA final..

Monday morning 5 to 8 AM : Study Law

Monday evening 7 to 11 PM : Financial Reporting

Tuesday Morning 5 to 8 AM : Study Audit

Tuesday evening 7 to 11 pm : Study SFM

next day same time morning Law & at eveing time FR

next day same time Audit & evening time SFM

and revise all this 4 subject on sunday every week what you have learned in the past week...

and for Audit you may refer CA Surbhi Bansal book which is very good book and cover whole syllabus and having only 300 pages so you can revise it 3 times till exam. but for this you need to make a target to read at least 10 pages daily with great concentration. and dont forget to study all the topics of Auditing including SA and Accounting Standards & Professional ethics & CIS environment and all other topics too..all the topics are very important for exam..and don't forget to study the practise manual questions & RTPs, mock test paper , study material questions of all the subject including auditing...and give more concentration on your presentation skill in exams.. many times student fails to present an answer properly.. although they know it but fails to present it in proper way.. so you need to take care about that.. the answer should be too the point.. and cover all the points. and it should be properly headed...and if you know the section or AS of SA then write it otherwise no...

As per my experince it is better to study the theory paper in the early morning time and practicle paper in eveing or night time because in morning time your mind & body is fresh..so it easily grasp what you read in early morning...so study auditing in morning time.. and Accounts & SFM at eveing time..

so best of luck & happy reading...