Auditing is such paper, where everything looks easy on book, but, once you appear in the exam, the exam paper looks quite difficult to write down. All Auditing needs is a little bit of vocabulary and knowledge in Auditing Standards.
# Expect a Question from CARO 2016. Especially, CARO 2016 Vs CARO 2015.
# In Special Audits, stress on Govt Audit (Especially Propriety Audit), Audit of NGO, Hotel & Hospital.
# For Vouching, read Practice Manual, Study questions from last to first in that chapter in PM (leave the topics that are in ‘bold’ in the end, as these are previous exam questions).
In the next post, we will provide a trick to answer Vouvhing and Verification question to score 8 Marks easily.
#Expect a guarantee question from Internal Control.
#In CA-I, Stress on Auditor Resignation, Right to attend GM, Cost Audit by CG, Audit Committee.
#Spend more time on SA 230, 330, 450, 505, 520, 610 & 710.
# A Question from CA-II may come for 5 Marks. Read Debentures, Dividend topics.
#Go through Nov 2015 & May 2013 Exam Solutions. You can get these solutions here.
Important Auditing Standards
|SA 230||Audit Documentation|
|SA 330||Auditor’s Response to Risks|
|SA 450||Evaluation of Misstatements|
|SA 505||External Confirmations|
|SA 520||Analytical Procedures|
|SA 610||Using Internal Auditors work|
|SA 710||Comparative Information|