Hi.
Absolutely! Audit is one of the trickiest subjects in CA, but with the right strategy, you can secure a decent rank. Let me break it down step by step — with clarity and structure.
Understand the syllabus deeply
The first step is knowing what ICAI expects:
Key areas in Audit (CA Intermediate / Final):
Standards on Auditing (SA) – The core of the subject.
Audit of different entities – Companies, banks, co-operatives, LLPs, etc.
Audit procedures & techniques – Planning, internal control, vouching, verification.
Company Law provisions related to audit
Audit Reports – Format, contents, qualifications.
Other audits – Government audit, internal audit, cost audit (Final level).
Tip: Divide syllabus into “weightage categories” – focus more on frequently tested SAs and audit reports.
Master the Standards on Auditing (SA)
Each SA has objective, procedure, and reporting requirements.
Memorize key points for each SA (like SA 200 – Overall Objectives of the Auditor, SA 240 – Fraud, etc.).
Use flowcharts / mnemonics for procedural steps (this makes recall faster in exams).
Focus on Practical Questions
Audit is practical-heavy, not just theory.
Work on question banks and past ICAI papers.
Solve case studies where you have to:
Identify audit risks
Suggest procedures
Prepare report / qualification
Tip: Practicing vouching, verification, and reporting questions repeatedly is more effective than reading theory multiple times.
Learn Company Law + Audit Report formats
Many mistakes happen in report writing.
Keep a template for different audit reports ready. Practice writing at least once in each topic.
Remember dates, limits, and thresholds in Companies Act (for statutory audit, appointment, resignation, etc.).
Time Management for Revision
Allocate 2/3 of your time to high-weightage SAs + practical questions.
Revise audit report formats and checklists just before exams.
Use short notes and tables to quickly recall procedures.
Solve Past Exams Strategically
Solve last 10 years of ICAI papers. Focus on:
Marks distribution
Frequently asked SAs
Report writing questions
After solving, check answer keys / suggested answers to see how ICAI expects framing of reports.
Conceptual Clarity > Rote Memorization
Many fail Audit because they memorize without understanding.
Ask yourself for every step:
“Why am I doing this? ”
“What is the objective of this procedure? ”
This ensures you can tackle new or tricky questions in exams.
Recommended Resources
ICAI Study Material (First preference)
Practice Manual (solving questions is key)
RTPs and MTPs (Revision Test Papers / Mock Test Papers)
ICAI Suggested Answers for last 10 years.
