CA FINAL AUDIT: Last Month Strategy. First of all this article is for average students. Rankers please stay away. Whatever I am going to tell you is the strategy for bare minimum marks i.e to get above 50 in Audit. I hope till now you have read at least once the whole syllabus. As there is MCQ Pattern. Lot of students are devoting their precious time by practicing near about 1500 questions (Books Provided By Different Authors). You have to understand that MCQ are only for 30 marks and even if you read a lot, chances to score above 25 are quite low. So we can't be perfect. So instead of giving time for things we don't know.
Lets give the time for the portion you are comfortable with. Just do the MCQ provided by institute. Also the one's which are given in Mock Test's. So you have more than 150 MCQ. You can practice that and can guess the pattern of MCQ which are asked. Afterall MCQs are automatically covered during your regular studies. MCQ Target : 15 to 20 Coming to remaining 84 Marks of Paper(Including Optional) out of which you have to get 35-40. Means just 50% Accuracy. I would suggest you all to divide the syllabus priority wise. Priority should be given to those chapters which are more likely to come and has less material to read. Priority 1 Chapters Peer Review Internal Mgmt & Operational Audit Special Audits Cost Audit Due Diligence Company Audit(Common with Law) CIS Professional Ethics (Must Do) PSU CARO SQC SRE SAE and SRE So you must be wondered. Where is Insurance, Co-Op Soc, Bank, NBFC? Actually they are too technical and Time consuming.
So I wouldn't suggest to cover them all. Just select 3-4 questions from each chapter. That would be sufficient I guess. Coming to SA's. There will be approx 4-5 Hardcore SA questions. From that 1-2 questions will be from SQC SRE SAE SRS (As per previous Trend). So for remaining 2-3 questions I wouldn't suggest you to give much of your time. Here's the simple trick. Do all priority 1 chapters. You will have to read the question answers repeatedly and if you practice by writing them that would be a cherry on the cake.
They have very less content. Other chapters like NBFC and Other Entities. You don't have to skip full chapter. You just have to select 2-3 questions per chapter which are important and do that much only. SA's are more in general. You just need to know the conclusion for the given case. Even if you just remember the Important SA names. That would be sufficient. I won't say that this is best strategy. This one is only for students who are struggling within 30's range and not have much time to study. Good luck.