Guys, this article is for students those who want to self-study Audit in CA IPCC. First of all, I have divided the whole syllabus into ABC (as per their importance)
CA IPCC ABC analysis (New course)
1) SA - 210,230,240,250,299,315,330,500,530,580,600,610,620
2) Companies Audit, CARO
3) Audit of Banks
4) Audit Report
5) Government Audit part in Audit of different types of entities chapter.
1) SA 200,220,260,300,320,505,560,570
2) Audit in automated environment
3) Audit sampling
4) Audit of items of financial statements
Remaining SA and chapters.
Now let's discuss how to study SA in audit?
SA is most important part of the audit and many students avoid this part or they write the same sentence in active-passive voice in the exam and score very less marks.
Tips to study SA
How to study SA in auditing?
1) Study SA as per ABC analysis (as already given).Most importance should be given to 'A' category.
2) Read SA atleast 5-6 times before exam.
3) You have to memorize important topic/parts from each SA.
4) After reading SA for each time, you may find you have already forgotten what you have read earlier. Don't worry, it happens to everybody when you read topics like SA. After 5-6 reading/memorizing important topics, you will have confidence in SA type question.
5) Before going for exam, look at questions as well otherwise you might get confuse on which SA question is asked.
6) Memorize SA name and No., yes it's possible. If not possible, atleast do it for 'A' and 'B' category SA's.
If you sincerely follow above tips, you can easily score 85%-90% marks in SA questions. Again please note ICAI doesn't want your points especially in SA type question, they want their module points. Otherwise, examiner will directly give you zero.
Guys if you want to pass CA exam, you have to avoid mistakes what others do. Just by doing so your chances of passing in exam increases by 50%.
Just keep in mind this factor, I have prepared 3 major points why students fail in the exam? Try to avoid these things in the exam, and see the difference.
Why students fail in CA IPCC Audit? 3 Major reasons*
1) Writing the same sentence again and again in active-passive voice. This is not what I am saying, same was published in student journal (Examiner's comment section).
2) Not writing modules language. It is not possible in any subject to write exact same material as in module but you should try to replicate 30-35% of modules language. It is enough for scoring good marks.
3) Don't try to show off your own so-called knowledge (gyan). ICAI does not want your language/facts/knowledge, they want their module material language whether it's IPCC or Final.
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In case of any help in CA IPCC, always feel free to ping me.