How to grasp CA Final Audit

CA Final 1035 views 2 replies

varad

student

29 Points Posted on 01 December 2010

Hi,

Can anyone suggest me how to prepare and exactly grasp the CAFinal Auditing. I am facing problems as follow:

1) I tend to learn the chapter and since I do not have practical experience in topics like peer review, audit of SEBI, Environment audit, energy audit and such other topics, i tend to forget those completely in few days and start from scratch. Thus i am not able to take them in completely and correctly at first place itslef due to high degree of imaginations

2) For auditing standards, the words i prduce are not matching with the actual professional language of the standard and this gives me a sese that i am unable to produce the same correctly

Please suggest or share me how one prepares for audit by answering following questions:

1) Do u learn the topics like co-op society audit, audit of indirect tax, sebi audit, PSU audit, mgmt and operational audit etc.?

2) If u learn these topics how long does it take to learn each topic?

3) Once by hearted, how do u mange to remember them? how frequently do u revise them?

4) What exact method do u follow to study an sstandard on auditing (SA) ? wht exactly do u study? Do u learn that standard so as to produce it or what exactly do u grasp in it?

Thanks in advance

Replies (2)

Ankur Garg

Company Secretary and Compliance Officer

114788 Points Posted on 01 December 2010

Strategy to prepare Audit

QUICK READING APPROACH

First give ICAI audit study a quick reading to understand the depth and figure out the efforts and time required for final preparation. You would appreciate that through this quick reading you would be able to figure out where extra efforts are required in audit subject and plan accordingly.

Make necessary notes or put suggestions or mark strategy for yourself on the study book during first reading. This task helps you to deal with audit subject later on during final preparation. Pre-condition for this first study is --- go ahead for quick study with a completely relax and chilled mind. Your main purpose behind this quick study is observation and formation of a plan to deal with audit.

During first study ride prepare a plan for final preparation. Also use scanner for making the plan. Later on use any good notes to prepare. Remember at this moment you have everything in your mind like what is imp along with basic idea of the topic and chapter.

SPECIAL ATTENTION TO SA AND AS

Also give special attention to SA and AS. Only good knowledge of SA and AS is not enough but you must understand the technique to apply SA and AS in audit practical problems. For this purpose refer ICAI suggested answers and observe the application of SA and AS to the problem. Another benefit of this task is—it also helps you to understand SA and AS in a much better way.

The suggestion above is based on my personal understanding and may easily be rejected or accepted by you. In any case please share your feedback.

All the Best and Regards