CCI Online Learning
50% OFF in CA/CS/CMA Subjects
     
CIBIL

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Tips to score exemption in Audit paper


CA.ViVeK M ACA (ACCOUNTS DEPARTMENT)     10 February 2011

CA.ViVeK M ACA
ACCOUNTS DEPARTMENT 
 5630 likes  28507 points

| My Other Post

 

Dear Students and members

CA exam both final and I P C C results was declared . Congratulation for those who had cleared their exams and best of luck for those who fail the exam. I am giving some rescue plan for those who had failed their exam.

I am glad to invite all of your attention towards scoring  good mark in Audit paper. Today exam pattern were Purely practical , real time made and will test the knowledge of all the CA students.

1.    Important areas ( Be master)

More than 60 % of exam questions were based on the following areas. No compromise with these areas. Be through and excellent.

Ø Professional ethics ( CA final exams)

Ø CARO 2003

Ø Accounting standard based audit questions

Ø SA based q questions

Ø Company Audit ( Part one and Part 2)

Ø Special audit , EDP audit etc

 

2.    Presentation part in exam.

Now a day exam questions are practical, real time made and twisting also. A silly mistake will be penalized greatly. This may cause failure in this paper.

Most of the paper has applications in more than one dimension. Say “Going concern” . You have to see where all this words hit and write according to the exam requirement.

Ø AS-1”Disclosure of Accounting Policies” explains the 3 fundamental assumptions of accounting which includes going concern. (AS-1”Disclosure of Accounting Policies” explains the 3 fundamental assumptions of accounting which includes going concern).

Ø Section 227(4A) CARO 2003 states that if the going concern of the enterprise has been affected the auditor has to report on the same.

Ø AS-4”Contingencies and events occurring after the balance sheet date (events occurring after the balance sheet date may indicate that the enterprise ceases to be a going concern)

Ø  As per SA Going Concern “states that an auditor needs to consider whether the enterprise has appropriately used the going concern assumption in the preparation in the balance sheet.

                 Example No 2 Relying on work of internal auditor

Ø Section 227(4A) Caro 2003 Point number 7 states that in the case of listed companies and/or other companies having a paid-up capital and reserves exceeding Rs.50 lakhs as at the commencement of the financial year concerned or having an average annual turnover exceeding five core rupees for a period of three consecutive financial years immediately preceding the financial year concerned, Whether the company has an Internal Audit system commensurate with its size and nature of its business.

Ø Basic Principals governing Audit “one of the principals laid down is internal control  (Internal Control = Internal Audit + Internal Check)

Ø  “Relying on the work of the internal auditor “in detail.

3.    Preparation of good notes, good number of revision before exam

All the best

CA Vivek M

 

 

22 Like
avater

Rohtash (CA - Final / CS / B.Com)     10 February 2011

Rohtash
CA - Final / CS / B.Com 
 93 likes  1140 points

View Profile | My Other Post

Thanks Sir.. 

1 Like
avater

CA.ViVeK M ACA (ACCOUNTS DEPARTMENT)     10 February 2011

CA.ViVeK M ACA
ACCOUNTS DEPARTMENT 
 5630 likes  28507 points

View Profile | My Other Post

Originally posted by : Rohtash

Thanks Sir.. 

welcome comments 

avater

Tehsinkhan Pathan (CA CMA DISA(ICAI) B.COM)     10 February 2011

Tehsinkhan Pathan
CA CMA DISA(ICAI) B.COM 
 512 likes  3946 points

View Profile | My Other Post

THANX FOR SHARING...........................GOOD ONE...........................

1 Like
avater

BALU.... (CCI STUDENT....)     10 February 2011

BALU....
CCI STUDENT.... 
 5132 likes  44605 points

View Profile | My Other Post

WOW...AGAIN WONDERFUL POST SIR JI...VERY USE FULL SUGGESTION...

 

https://www.filebuzz.com/software_screenshot/full/70560-_D_Wonderful_Flowers.jpg

1 Like
avater

CA.ViVeK M ACA (ACCOUNTS DEPARTMENT)     10 February 2011

CA.ViVeK M ACA
ACCOUNTS DEPARTMENT 
 5630 likes  28507 points

View Profile | My Other Post

Originally posted by : BALU A HELPING HAND...

WOW...AGAIN WONDERFUL POST SIR JI...VERY USE FULL SUGGESTION...


 

 

thank you balu

avater

Resham (Carpe Diem !!!)     10 February 2011

Resham
Carpe Diem !!! 
 1532 likes  6535 points

View Profile | My Other Post

This is really going to be of great help to me and many others...!!!


Thanks Sir.... Great tips... As always !!!

avater

SANYAM ARORA (“It's hard to beat a person who never gives up.”)     10 February 2011

SANYAM ARORA
“It's hard to beat a person who never gives up.” 
 3072 likes  20158 points

View Profile | My Other Post

THANKS SIR ........!!!! VERY NICE

avater

CA.ViVeK M ACA (ACCOUNTS DEPARTMENT)     10 February 2011

CA.ViVeK M ACA
ACCOUNTS DEPARTMENT 
 5630 likes  28507 points

View Profile | My Other Post

Originally posted by : Resham

This is really going to be of great help to me and many others...!!!




Thanks Sir.... Great tips... As always !!!

Thank you for your comment and appreciation too

avater

CA Ravi Sisodia (CA,CS,CMA)     10 February 2011

CA Ravi Sisodia
CA CS CMA 
 3237 likes  32216 points

View Profile | My Other Post

superb post sir.....


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  



Related Threads


Loading

Popular Discussion


view more »





Download the latest Question Papers for free

click here





Trending Tags
GST Live Class    |    x