How To Tackle Auditing and Assurance in CA Inter Exam

The most fearful subject in the CA Intermediate is Auditing and Assurance. The subject is not that easy and also not much scoring. But you have to read each and every topic as this is the basic work of a Chartered Accountant and everyone has to perform the audit in their office during practical training as soon as they clear the CA Intermediate. The weightage of the topics is as follows:






Nature, Objective, and Scope of Audit

Audit Strategy, Audit Planning, and Audit Programme

Audit Sampling

Analytical Procedures



Audit Documentation and Audit Evidence



Risk Assessment and Internal Control

Audit in an Automated Environment



Fraud and Responsibilities of the Auditor in this Regard

The Company Audit



Audit Report



Audit of Items of Financial Statements



Audit of Banks

Audit of Different Types of Entities

The audit is a subject that requires a lot of quick and logical application of mind to answer practical problems. It is one of the most practical-oriented subjects in the C.A. Curriculum. Start your answer with the proper analysis of the question then write the provision regarding that and end your answer with the proper conclusion.

There is so much confusion among some students that in an Audit paper, you have to write the bookish language. You can use your own language but there are some Keywords in your answer which should not be replaced anyhow. For example, true and fair views should not be replaced by correct opinions. What you can do to make your answer even more appealing is you can highlight the keywords which make the examiner realize that you have an understanding of the topic.

You can start with the Standards on Auditing as they cover a lot of marks in the paper. They are easy and also scoring but you should always remember the name of Standards. Some important SA’s are SA 230, SA 330, SA 450, SA 505, SA 520, SA 610, SA 710.

There are plenty of books available in the market from renowned authors but nothing, I repeat, NOTHING can replace ICAI Study Material. Every teacher uses ICAI's Study Material as the source for their book and if someone doesn't then their book automatically becomes un-useful. 

In an Audit, the right phrases and words are important. Often, the language of the Institute is what pushes students to pass the subject. Make a Summary of all technical terms, write them down separately, and revise them on a frequent basis. 

Have a track of amendments relevant to your and a couple of earlier attempts. They may turn up in the exam. RTP of the past 2 to 3 attempts is suggested.

If the question asks for 'Explain', 'Describe', and 'Analyze', then avoid writing in points. Instead, write in para-points. An example of para points in this post. But if the question asks for 'Advantage/Disadvantage', 'Process', or 'Limitations', then you should go for points. Even when you're writing in points don't forget to give an introductory paragraph and then continue with your points.

And now everything left for you is to make use of these points and score good marks in the Audit exam. If you use these points and apply them in your practice and presentation, you can surely score exemption in the Audit exam.

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