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How to Pass CA Final Audit with Flying Colors

Most of the CA final students are worried about the ‘Advanced Auditing’ subject because of its difficulty level.

Auditing is a theoretical subject. CA Final Audit paper has a total of 100 marks which is divided into two sections, one is 30 marks of MCQ section and the other one is 70 marks of descriptive section. It is mostly based on concepts and technical words. Standards of auditing are most important in the audit. 

  • How many auditing standards for CA Final?

Now we discuss the chapter wise weightage of marks and standards of auditing:-

Advanced Auditing, Assurance, and Professional Ethics

Contents

Section

Weightage

  1. Quality control: SQC 1 and SA 220

I

45% to 55%

  1. General Auditing  Principles and Auditors Responsibilities: SA 240, SA 250, SA 260, SA 299, SA 402
  1. Audit planning, strategy, and execution: SA 300, SA 450, SA 540, SA 610, SA 620
  1. Materiality, Risk Assessment, and Internal Control: SA 265, SA 330
  1. Audit Evidence: SA 500, SA 501, SA 505, SA 510, SA 530, SA 550
  1. Completion and review: SA 560, SA 570, SA 580,
  1. Reporting: SA 700, SA 701, SA 705, SA 706, SA 710, SA 720
  1. Specialised areas: SA 800, SA 805, SA 810
  1. Related services: SRS 4400, SRS 4410
  1. Review of Financial                                        Information: SRE 2400, SRE 2410

 

 

  1. Prospective Financial Information and Other Assurance Services: SAE 3400, SAE 3402, SAE 3420,
  1. Digital Auditing and Assurance

II

3% to 6%

  1. Group Audits: SA 600
  1. Special Features of Audit of Banks & Non-Banking Financial Companies
  1. Overview of Audit of Public Sector Undertakings

III

17% to 24%

  1. Internal Audit
  1. Due Diligence, Investigation and Forensic Accounting
  1. Emerging Areas: Sustainable Development Goals (SDG) & Environment, Social and Governance (ESG) Assurance, etc.

IV

3% to 6%

  1. Professional Ethics and Liabilities of Auditors

V

17% to 24%

 

  • Is CA final audit easy?

Many of the CA Final students get lower scores in audits, because of the lack of sufficient presentation skills and enables to write thoughts while preparing for the exams. Auditing is a theoretical subject and SAs is important to write in the answer, because it helps the students to get full marks in auditing. In this paper, use accurate technical words, and underline the important keywords.

  • How to prepare an Audit for CA final?

Here are some tips to clear the CA Final Audit:-

1. Understand the pattern of the question paper:- After completing the once revision, you have to focus on the pattern of the question paper. Now, look at the previous year question papers and check out how many questions are posted from one chapter and those are which type the ques.

2.   Grouping chapters:- You have to group the subject into 5 to 6 parts, and each part includes 3 to 4 chapters. Now you have to allocate the equal time to each part according to your schedule and revise the chapters.

3. Focus on standards of auditing:- Standards are very important in auditing. You have to learn and understand the SAs. It covers a huge weightage of marks in exams.’

4.Improve Presentation:- Presentation is more important in the Audit exam. Write your answer clearly, underline important keywords, and write headings for good readability. It will help you to clear the CA Final Audit.

5.   Practice writing:- Question answer practice is more important. Always practice the question answers by writing. Sometimes you know the answer but you do not identify the question, so it is very important to identify the question and to write an accurate answer.

  • How to score 40 in CA Final Audit?

Getting a score of 40 in CA Final audit is not too difficult. With the help of the following tips, you can score 40 in the CA Final audit:-

  • Prepare 30 marks MCQs:- You have no need to do special preparation for MCQs, cover the MCQ concepts with your first revision. Daily, give half an hour to MCQ preparation and solve case study MCQs and normal MCQs, which helps you to increase the score. You can prepare MCQs from the Bhagya Achievers test series.
  • Understand the concepts:- Understand the concepts of the question while you are studying because concepts are more important. If you have clear the concept, then you can write an answer easily and accurately.
  • Attempt all paper:- To attempt all paper, you have to revise the syllabus at least 3 times. If you are not able to revise the syllabus with proper schedule, then the Bhagya Achievers test series provides the best study planner for you, where you can revise your syllabus 3 times and identify your strengths and weaknesses.
  • Keywords:- Using the right technical keywords and presentation is important in an audit. You have to underline the important keywords and present the answer with proper definition and headings which help you to increase the score in CA Final Audit.
  • Manage time wisely:- You should know how to manage your time in exams. Attempt the question first, which you know the answers and rest of the questions later, which you have not clear the answers. This may help you to increase the score in CA final audit.
  • Previous year question papers:- After completing the syllabus and revision once. You should have to attempt the previous year’s question papers and practice them. You can also practice the mock tests from the Bhagya Achievers test series, it provides the best mock tests for practice.

In conclusion, CA final audit is not an easy subject. You have to understand the concepts clearly, write answers with proper presentation, and standards of auditing. It helps you get good marks in audit.

Refer to the best CA final test series, CA test series to get a high score in CA Final Audit.

 

Also check

Registration process for CA Final

CA exam details

Career opportunities for CA