CA Final Audit - Frequently Asked Questions – Answered

Dear CA Aspirants, the most awaited article is here. Frequently asked questions of CA Final Students for CA Final Audit has been answered.

1. Who is best faculty for CA Final Audit?

It would be wrong to name any faculty as best, because every teacher is famous for his own reasons and moreover the top faculties also differ from region to region. Before buying any, please go through the demo lectures.
" We have made an article with all faculties Teaching Audit along with their backgrounds and reveiws from students - Click here "

2. Is study material enough for CA Final Audit?

Audit being a complete theory paper, Generally the marks are awarded to students using Institute's Study Material language. But since ICAI Study material is a bit lengthy, it is generally preferred by students to refer Books by top faculties like CA Surbhi Bansal, CA Pankaj Garg etc. or Video Lectures for a better understanding. And then the student can refer to the ICAI Material to check whether any topics have been missed out or not and also consider headings given in the study material and write answers accordingly.

Audit Resources by ICAI - Study Material  |  Suggested Q&A | Revision Test Papers | Mock Test Papers

3. How to Prepare CA Final Audit by Self Study?

  • In Audit, the right phrases and Words are important. Often, the language of the Institute is what pushes students to pass the subject. Start by writing the premise of your answer, follow it up by the definition (if any) and derive your opinion from the same.
  • Chapters like Professional Ethics and Standards of Auditing can carry 30–40 marks in totality. So Plan your preparation accordingly.
  • Try to attempt the complete 100 marks paper. Attempting full 100 marks paper can maximise your final marks and can increase your chances of scoring more. 
  • Solve MCQs, since it carries more weightage so one should not ignore it and there is a scope of getting full marks in these type of questions.
  • After completing the self study, if student still feels that he lacks confidence or he needs more clarifity on topics, then he can opt for Revision Videos or Short Duration Courses by Faculties
"Detailed Blog on CA Final Audit Preparation by  Self Study : Click Here"
"CA Final Audit Free Notes & Videos by Top Faculties          : Click Here"
"CA Final Audit Revision Videos in Pendrive Mode               : Click Here"

4. Suggest good Book for CA Final Audit

Generally for Theory Papers like Audit, Student opt for Reference Books from top faculties like CA Surbhi Bansal, CA Aarti Lahoti, CA Pankaj Garg etc. However, most books have the same content but different way of explanation. So you can pick any book as the material you'll read remains the same. And If time permits , students should always go through the module. Many people say it's too vast but it is the bible of audit.

"List of CA Final Audit Reference Books by Top Faculties: Click Here"

5. How to Self Study CA Final Audit in 1 month?

Enhance your study strategy and scores for better result in examinations.

  • Companies Act- Start with Companies act because if you study companies act (from section 123 to section 149) in auditing u can save lot of time as the same topics are covered in Law paper as well.
  • Professional Ethics- Read professional Ethics and try to remember the clauses if possible, it is little rigid so we have to remember importance of each clause and compulsorily go through practice manual then only u can get good clarity
  • Standards on Auditing- First of all try underatand the objective of each standard, no need to remember entire stuff in standard but just try to remember Objective of each standard it helps us a lot, preparation of SAs is Mandatory don't put it as a last chance. Most important factor is don't miss auditing terminology , try to remember auditing terminology
  • CARO- Small one but very important one,while preparing CARO points try to interlink each point with companies act sections and SAs for example : reporting of fraud ( for fraud we have to give reference to Section 143 and SA 240 )
  • Different types of Audits- Try to study following areas as one category.
    • Audit of Banks, insurance companies and NBFCs
    • Audit under fiscal Laws
    • Special Audit Assignments like audit of members of stock exchange, mutual funds, depositories, bank borrowers; Environmental Audit; Energy audit; Audit of Stock etc
    • Audit of PSUs like performance audit
    • Internal Audit , management audit & Operational audit
    • Diligence, Investigation and Forensic Audit
  • All other remaining chapters

Conclusion: In entire audit paper the most important thing to remember the terminology, try to undertand and remember the provision or section or clause.

Free Videos on all Standards of Auditing by Top FacultiesClick Here

6. Which teacher is best for CA Final Audit in English?

There is no best teacher, everyone has their own best teacher as the one from which they are able to understand the most is the best teacher for them. But there are limited teachers who provides teaches in complete English like CA Aarti Lahoti, CA K Shriram, etc. Before buying any, please go through the demo lectures.
" We have made an article with all faculties Teaching Audit along with their backgrounds and reveiws from students - Click here "

"CA Final Audit Section-wise weightage by ICAI Click Here"

Moreover, You can get in touch with our expert, Miss Abhilasha Sharma or Mr.  Abhishek Bajaj (Mobile – 9051753757) exclusively associated with Zeroinfy.in

Hope you can find this article helpful. If you did like this Blog then Share it with your friends who are doing CA Final studies or who will be giving their CA Final Exams in the near future.  

All The Best..!!

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