how to prepare audit for CA final??

Hi Meenaxi,

Audit is one subject where it is really difficult to get marks.

Here are a few tips which will help you get minimun of 40 marks, in fact more.

1. Make sure you know all the SAs with their numbers and complete title as given by ICAI. (You have to mug them up).

You get marks for identifying the right SA and by mentioning its title along with SA number. (16 marks)

2. Make sure you know all the section numbers of Companies act syllabus which is covered in the audit paper (Audit & Auditors related provisions, IFC & Fraud reporting) (12 marks)

3. Mug up all the clauses of CARO with right clause numbers word by word. (8 marks)

4. Mug up all the clasues of both the schedules of Professional ethics. (Dont forget to pay attention to council guidlines)- (16 marks)

5. Mug up all the clauses of Tax Audit as per Form 3CB/3CD (4 marks)

6. Prepare for Banking, insurance and public sector audit chapters really well. (10 marks)

7. Cover the entire Practice Manual atleast thrice before your exams.

8. Read 3 SAs everyday and repeat this cycle untill exams.

9. Write and remember all the details mentioned in points 1 to 5 above.

10. Write atleast 2 mock papers at home and evaluate the same by comparinig it with the Institutes suggested answer.

If you follow these 10 points above sincerely, I am sure you can clear your audit paper very easily.

All the best! Let me know in case you have any further queries.