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Many CA Final students fear the subject of Audit. Most common misbelief amongst the students is that examiners don't give marks even after writing long answers. Secondly, because audit is a theory subject, many find it lengthy and unmanageable. But it is also true that, audit is the most relatable and practical subject which we have applied in our day-to-day work during article-ship. One must understand that this subject is not about writing lengthy answers, rather one must identify the correct chapter or topic after reading the question.

I agree that audit is vast and the first reading of audit cannot be completed merely in five to six days. Thus, let's start from the start.

Firstly, CA students should pay their complete attention while they are taking coaching for audit subject. It is important to get conceptual clarity while you are studying the subject during your lectures.

Let us now come to first reading of audit during your study leave.

Audit might appear as a vast subject at first, but try to look at it from a bird's eye view. Let us divide this vast subject into four simple parts. This order can also be followed while studying. 

How to study CA Final Paper 3 - Advanced Auditing and Professional Ethics

1. Professional Ethics

Professional Ethics is a quite practical topic, easy to understand and memorize. Also, you should not leave professional ethics in option, as you might risk your 15-20 marks.

2. Company Audit

Due to lot of similarities in this topic of audit and the Law subject, it gives an added advantage to students to study Company Audit.


3. Standards on Auditing

When you are about to start any particular standard on auditing, you can watch a revision video on that standard of any professor you like on Youtube. This will help you recollect the standard taught to you in classes. After watching the video, quickly go through the standard and identify the key points or important concepts of the standard. Then, try to memorize the same.

4. Other audit chapters

This section includes various small topics in audit like audit of banks/ insurance companies/ co-operative societies, cost audit, peer review etc. Do not think of leaving this section of audit, as these other audit chapters are very small and easy.


Ensure that while you are doing your first reading for audit, highlight the important concepts and make a summary of difficult concept in your notebook/ textbook itself. This will save you from reading the entire topic again during revisions. Also, you will be able to recreate the highlighted audit sentences in your exam papers.

Now let us come to actually solving questions. If you all have observed, in audit paper, direct questions are rarely asked. Mostly, a situation is created in the question and you have to identify the standard or chapter related to the question. Most of the students fail to identify the right standard or chapter from which the question is asked. You are surely going to lose marks even though you right a lengthy answer from an incorrect standard/ chapter.

Purchase a scanner/ question book set/ past paper questionnaire set for audit. While revising try to practice as many questions from the scanner/ question book. By solving more and more questions, you will get an idea of the nature and type of questions asked in exams.

Ensure that you revise audit at-least twice after the first reading. Make use of charts and summaries to revise the standards on auditing.

In your answer sheet for audit, try to highlight the key words and important concepts so that the examiner will come to know that you have understood the topic very clearly.

At the end, I would like to conclude by saying - don't be afraid of this subject, rather make sincere efforts to understand it, and I am sure you all will be able to crack it!

The author can also be reached at kokateshreya3@gmail.com

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Category Students, Other Articles by - Shreya Kokate