Thinking about what to do after passing the CA Foundation and CA Intermediate exam? Here is the way. The next step for CA aspirants on their way to CA is the CA Final exam. If you are reading this, you have already won the battle of clearing the CA foundation and Intermediate exams, but not the war, as you still have one last hurdle to clear before you become a CA.
The CA final exam is one of the most challenging pieces of work in the CA course. Students dread the audit subject because of its complexity. It is one of those subjects that are easy to understand but difficult to evaluate.
Here in this blog, you will find everything you need to know about CA Audit and much other important information that a CA aspirant needs to give while preparing for their CA final exam.
What Is A CA Audit?
An audit is the examination or inspection of various books by an auditor, followed by a physical inspection of the inventory to ensure that all departments are following the documented system for recording transactions. It is performed to determine the accuracy of financial reports submitted by the organization.
The audit is performed internally by employees or managers of a particular department and externally by an outside firm or independent auditor. In India, auditors from the ICAI perform independent audits on any organization. In the U.S., CPAs perform audits.
There are four main steps in the audit process.
- The first is to define the role of an auditor and the terms of engagement, which is usually done in the form of a letter duly signed by the client. CA Audits are one of the most important mechanisms for ensuring that CA operates safely and under certain policies.
- The second step is to plan the audit, which involves determining the deadlines and the departments that the auditor should review. The audit may take a day or even a week, depending on the type of audit.
- The next important step is to compile the information from the audit. When an auditor audits the accounts or examines the main financial statements of a company, the results are usually published in a report or compiled systematically.
- The final and most important element of an audit is the reporting of the result. The results are documented in the auditor’s report.
CA Final Audit
The importance of CA Final advanced auditing and professional ethics is seen in the audit authority of auditors. The global shift in the business environment has led to a shift towards strategic decision-making and the corporate role has become more important.
This shift requires auditors to be more than just accountants or auditors. It requires them to be global solution providers. As auditing is the core subject of the CA program, students are expected not only to acquire knowledge but also to apply the acquired knowledge in solving problems in the Final examination.
CA Audit Study Material
After you have completed at least one revision of the entire syllabus, you should be able to answer the questions in the study material. publishes study material for each test. For each try, study material (published by The Board of Studies) with a new set of questions is provided to assist you to assess your level of preparation.
Proper study material plays a major role in cracking CA final audit exams. You can find those in its official website.
CA Final Audit Best Faculty
Finding the list of best faculties for the CA final exam in India is a difficult task and we make it easier for you.
| Faculty | Details | Link to buy |
| CA Abhishek Bansal | Printed Books – 02 Main Books, 01 Question Book, and 01 MCQ Book | Fast Track Course for CA Final Audit New Syllabus in May 2021: By CA Abhishek Bansal |
| CA Aarti Lahoti | 175 hours of lectures, 1.2 / 1.8 view rates, 12 MONTHS VALIDITY | Regular Course: Video Lecture + Study Material By CA Aarti Lahoti (For May 2021 & Nov. 2021) |
| CA Harshad Jaju | ENCRYPTED PRINTED BOOKS / DIGITAL BOOKS (NOT PRINTABLE): In modules 1, 2, and 3, MCQs, and charts | New Syllabus Regular Course: CA Harshad Jaju’s Video Lecture + Study Material (May 2021 & Nov. 2021) |
| CA Pankaj Garg | Main book, Cracker, and MCQ, all in hard copy | The new syllabus for the CA Final Audit Regular Course for the Aug. 2020 batch is available in video lecture format and as study materials. |
| CA Surbhi Bansal | 175 HOURS OF LECTURES INCLUDED IN PRINTED BOOK / 1.5 VIEWS AND 6 MONTHS VALIDITY | Video Lecture + Study Materials, CA Surbhi Bansal (Apr. 2020 & Later) for CA Final Audit New & Old Syllabus Regular Course (For Nov. 2020 & Later) |
CA Inter Audit Classes
Before you decide on a tutoring course, you need to make a checklist of the things you want to have in the course. There may be different criteria that you can use to make your decision. And you can only make this checklist once you know all the options available to you.
The mode of classes includes
- Face-to-face audit classes
- Satellite classes
- Online classes
CA Final Audit Neeraj Arora
Neeraj Arora CA Final exam courses offer multiple batches for a subject. In addition to face-to-face courses, there are also e-learning offerings and students can purchase video tutorials as needed.
The tutoring course organizes timely workshops that provide information on general topics like CA, Article ship, etc. The lecturers are not only extremely popular but also remarkably competent as they maintain good communication with the students.
The course content is exhaustive. In particular, their book on strategic management is a thorough guide as it includes a workbook after each chapter, statistics, charts, diagrams, statistics, and question banks that have ICAI questions. It also includes well-timed tests and assessments to evaluate student progress.
Many students who failed the exams earlier claim that they finally passed them with flying colors. Special thanks to the classes provided by CA Neeraj Arora.
CA Final Audit Book
Few CA Final candidates read just one book, and few read several books on a single subject. We will offer a comprehensive selection of books for CA Final students to address this problem.
- CA Final audit notes by CA Shubham Keswani
- Combo of CA Final audit main book & MCQs by Pankaj Garg
- CA Final audit entire book set by CA Ravi Taori
FAQs – CA Audit
Is audit tough in CA?
CA Final Audit is one of the most difficult papers in the Final course. Due to its complexity, students dread the subject of Audit and it is one of those subjects that are easy to understand but difficult to score well on.
What are the 3 types of audits?
The three main types of audits:
- External audits,
- Internal audits, and
- Internal Revenue Service (IRS) audits.
Wrapping Up:
Sincerity and consistency are the most critical qualities to cultivate to perform well in the CA Audit. Be honest with yourself, stick to your studies, and be sincere in your self-evaluation. As the saying goes, improvement is its reward. Revisit all you’ve done and put it into practice regularly.
We hope you find this blog useful in your CA Audit studies. Very best wishes!
