Dear IPCC students,
Many of you fail in the auditing and assurance paper at ipcc level. Have you ever made a self assessment? In many cases,students study well , write the examination well and expects 60+ marks for this paper. But unfortunately, majority of them get disappointed when they see 30-35 marks on their marksheet. Here, I suggest some strategies(may be you are aware of these points,but this one is for those who are new to the course) to get 70+ marks in auditing paper.
- Do not rely too much on reference books : It has become a regular habit for students to rely only on reference books. They keep away ICAI study material, practice manual, revision test papers and suggested answers. Keep in mind that if you dont touch study material, it will be hard for you to crack the audit paper(some may pass due to luck but many fail). Reference books have their role only after completing a thorough study of study material. Answers should keep the standard of the portions of study materials. Refference books like paduka and surbhi bansal madam's books are the best to clarify the points which a student finds it hard to understand from study material.
- Mere reading of study materials is not enough:: Many students believe that mere reading is necessary to pass auditing/business laws. But I,from my experience , tell you that reading and understanding cant help you all the time. Chapters like vouching, verification,special audit and company audit requires by-hearting . The sections and points should be thoroughly by-hearted so as to reproduce it on the answer sheet in the same manner as in the study material.
- Ignoring standards of auditing : Many students ignore the book "Auditing pronouncements" provided along with the study material. I would only say that its suicidal to avoid it. Avoiding a major chunk of portions will surely push you to failure. If you find that book difficult, just ignore that book and study from reference books(only for standards and not for other lessons. Reference books helps only to revise other portions)
- Presentation : Many students fail to present the answer in par with the institute's standards and expectation. If any answer is linked to any standard on auditing, quote it strictly. Use the words''As per SA__" to begin such answers. In company audit, quote the sections.
- Avoid beating around the bush : Do not think that the examiner will give you a handful of marks if you extent your answer to 2or3 pages. Its a myth. Write only the answers to what has been asked in the question. The examiner will expect only certain point/points. Remember, the examiner need not test what you have studied but he wants to know whether you can answer if a particular situation is given.
CAclubindia
