What is ISCA all about?
ISCA (Information System Control and Audit) has been a nightmare for students at the final level. During the IPCC level, students get the rid of IT by preparing well enough the SM portion.
But it’s not so possible to the final level; one has to score at least 40 marks to pass the exam.
There is a question in mind of every student 'Why ISCA is in CA final Syllabus?'
Many students think that ISCA paper is of no use in their professional career. To remove your doubt let me explain you one thing in brief.
ISCA can help you to score good marks as well as will help in your professional career,
Do not underestimate ISCA, or don't just read ISCA to pass your exam. Try to understand ISCA as well because after becoming a CA you required to have a good knowledge of Information system to get a good job.
ISCA impact in your Professional Career
Nowadays, IT is the base and the backbone of every sector and industry. Not a single business can run without the use of IT system.
Either you go for practice or for the job you need to have some specified skills of IT.
In companies like Oracle, HP, Ford, OLA, Apple, Accenture and much more they are recruiting CAs for technical work (like SAP analyst).
It’s good to have knowledge of IT either practical or theoretical as it helps in understand the working of the company. Nowadays, CAs are not only limited to finance, accounts and taxation but the scope is widened enough. Now CAs are doing technical work like designing of IT system, implementation of IT systems and much more.
One of the most important and demanding fields is auditing of IT system and its process. With the demonetization, the demand of IT system in business has taken a leap. Now business is going cashless and adopting online means of receipt and payment (Plastic Currency, E-wallet, net banking).
Due to extensive use of IT system, it will require protection of IT system. Every company, firm or any organization will need to implement appropriate controls to avoid the risk of malicious activities.
CAs will have a significant role in developing and auditing of such system and process.
That’s why ISCA is an important subject as well as an important field in your professional career.
How to cover ISCA and score good marks
At first, consider what issue you face while composing the ISCA paper in past exams.
I observed that students are not able to crack CA final exams or 2nd group because of ISCA. So, I am sharing my study plan which I followed to prepare for the exams:
1. Try to prepare own handwritten notes for all the chapters of ISCA.
2. Try to revise ISCA for 1-2 hours daily along with other subjects.
3. Used Mnemonics where ever necessary & made stories to remember the points.
4. Revised ISCA 3 times before the examination.
5. At least try to write an answer and reconcile with the suggested answer. So you will understand how your preparation is.
Students who are appearing in May 2017 exams may follow this mantra for ISCA. Its very important to read and learn the answer but its even more important to connect the answer to the right question.
In ISCA paper you may realize that you are very much familiar with the question asked but what to write?
As there are lots and lots of questions which seem similar but their answers are totally different.
It's very important to read the answer as well as the question well.
Chapter 1 (Corporate and IT Governance) and Chapter 6 (Audit of IT system) have lots of similar question.
Chapter 5 (Development, Acquisition, and Implementation of IT system) seems to be big chapter but in reality, it's very simple and scoring.
Chapter 8 (Emerging Technology) students should give special importance to this chapter because it will fetch you good marks.
I Hope you will like this subject and will enjoy reading it.