Auditing & professional Ethics preparation and presentation techniques

Auditing subject is most unpredictable subject in CA curriculum. After writing exam we can't even fairly estimate the marks like Accounts, Costing etc. Auditing is the most difficult subject in terms of uncertainty of what to study and how to study, because the syllabus is not clear cut. Here I provided some of the methods and techniques to score good marks in Auditing.

PREPARATION OVERVIEW:

Entire syllabus is divided into 3 parts.

• Standards,
• Company Audit,
• Professional ethics,
• Miscellaneous.

Standards: Choose any book or notes to study the test and use practice manual as mandatory, because presentation plays a key role in theory exams.

Company Audit: This is the most sensitive area in subject. Generally questions are too specific and confusing. We can't answer correctly unless we have very good command on all provisions of the companies act.

Professional ethics: This chapter is the most important topic in terms of scoring. First we have to read all the schedules and clauses. It is important to write the clause as it is, to score good marks. Practice Manual contains a log of questions just go through all those cases gives more grip on the chapter. Don't ignore institute general guidelines. The weightage of this chapter is 16 marks. Miscellaneous chapters. Don't underestimate the power of these miscellaneous chapters. These are life savers when the paper is difficult. Generally the content in the chapters like Co-operative society audit, NBFCs, corporate governance, peer review etc is competitively less. So if we cover them well, then we can get good marks from these chapters easily.

NO BIG BOOKS: Increasing the distance of the boundary line reduces the runs score, same happens with studies also. Preparing in high volume book, doesn't guaranteed high marks. Using high volume book dilutes your Preparation and memory, so I recommend to use a medium size book with good professional language. Don't much bother about the coaching, it just contribute around 20% of the results. So give more priority for Preparations and revision.

PRESENTATION:

Preparation is the major factor for results in this subject become highly unpredictable. Practicing the presentation before the exams is very important. Though we knew the answer, but improper presentation in exams results in low marks.

1) DESCRIPTIVE THEORY QUESTION: Answer should be simple. Answer it point wise is always better. Don't lag the answer it you know only few points.

2) PRACTICAL THEORY QUESTION: First start with the reference to act, schedule, Standards etc and clearly write the provision. While writing the provision always use the same language and structure in the statue to the extent possible. Compare the given case or situation with brief analysis. Give the conclusion clearly.

3) AVOID ARTIFICIAL ANSWERS: Attempt the answer only if you know about it, answering with guess work or general answers may works in IPCC but not in final. Generally questions in Final are too specific to point and writing general answers doesn't help.

GENERAL POINTS:

• Maintain good Handwriting, it helps in creating good impression in evaluators sub conscious mind.
• Avoid vague language.
• Avoid lengthy answers, write only relevant answer and don't bother about Size of the answer.

All the Best.