Practising CA at Surat
26263 Points
Joined November 2009
Auditing is a conceptual subject. Simply speaking; you should know what is the procedure to conduct an audit.
For statutory audits like Company Audits and Tax Audits; you have to comply with the prescribed forms details. But still the basic concepts remain the same.
Focus on each and every transaction which is involved in the issue of audit. It requires a lot of exercise initially but within a short span of time one will get expertise and you will enjoy the work also. You can ask questions to your client during the audit and note down the reply given by him in audit working papers. These matters you can discuss with your boss.
Everytime you conduct an audit; you increase your knowledge of law and business.
To find mistakes of others is an interesting job. Isn't it ?
Since the question is related to score in auditing; I must say that if you write in your way about the question then surely you will get good marks.
See; in auditing there is no standard format of conducting an audit because each auditing firm has its own style. Whatever forms are suggested by ICAI or some authors are duly modified by the Auditor according to the requirement of the audit. It is a matter of judgement of the auditor how he wishes to deal a particular situation while conducting the audit. For example; different doctors will prescribe different medicines for the same disease. But still you will find the common chemical contents ( no chemical locha) in the medicines .
The idea to achieve more marks in practical or other subjects is not applicable to all.
Very few students can score 60 marks in practical subjects like Financial Reporting in CA Final. Most of the students fail in Accountancy in CA Final !!
You all very well know that it is difficult to pass in Costing which is a practical subject.
Although it is true that In CA; you can make your own suitable strategy to qualify the exam.