Everything You Need To Know About CA Final Audit

Congratulations, you reached the final level of the Chartered Accountancy Course. The Articleship will be starting soon or in some cases would have already started. It is best to start preparing for the exam from the very beginning. If you leave your preparation for the last few months' leaves, it might become difficult. Getting acquainted with the syllabus is prudent and helps you avoid panic in the last few months.

It might be tedious to manage studies, and the articleship but a proper plan and knowledge of the subject can make it easier. You should start preparing for the exam upon starting the CA Final, and you should use the last few months for revision.

Today we will be talking about Paper 3 of CA Final, that is, Advanced Auditing and Professional Ethics. This paper can seem tough to clear without proper guidance, so, we will try to provide the information you need to prepare and score well in the exam.

CA Final

CA Final is the last level of the Chartered Accountancy course. After clearing this level students finally become the member of the Institute of Chartered Accountants of India (ICAI) and get to add CA to their name.

The CA Final has two groups, Group I and Group II. Each group contains four subjects.

CA Final Group I

According to the New Syllabus of CA Final, group one contains four subjects. Unlike group two there are no choices among subjects. There are four subjects; all the subjects are mandatory.

CA Final Group I Subjects

The first group of CA Final contains four papers which are mentioned below -

CA Final Group I
Paper	Subject
Paper 1	Financial Reporting
Paper 2	Strategic Financial Management
Paper 3	Advanced Auditing and Professional Ethics
Paper 4	Corporate and Economic Laws

Today, we are going to talk about Paper Three of Group One of CA Final, that is, Advanced Auditing and Professional Ethics.

CA Final Group-II Subjects

The second group of CA Final contains four papers. Following is the list of CA Final Group two subjects -

CA Final Group II
Paper	Subjects
Paper 5	Strategic Cost Management and Performance Evaluation
Paper 6A	Risk Management
Paper 6B	Financial Services and Capital Markets
Paper 6C	International Taxation
Paper 6D	Economic Laws
Paper 6E	Global Financial Reporting Standards
Paper 6F	Multidisciplinary Case Studies
Paper 7	Direct Tax Laws and International Taxation
Paper 8	Indirect Tax Laws

Under the New Syllabus of CA Final, Paper 6 is Elective Paper. There are six subjects available with students to choose from. The students can choose a subject as an elective paper available as per their interest.

The students can even change their elective paper before filling the exam form. That is, if a student at the time of registration has chosen one subject from the elective papers and has received the books for the same but wishes to change it later on, he can do so.

The student while filling the exam form has to mention the other elective paper he wishes to choose. Paper once opted in the exam form can not be changed.

However, if the student is not able to clear his chosen elective paper in his attempt, he can choose another elective paper in the next attempt by mentioning the same in the exam form.

Now, we will discuss the mandatory subject, Paper 3: Advanced Auditing and Professional Ethics, which has equal significance in both CA Final examination and the professional world.

CA Final Paper 3: Advanced Auditing and Professional Ethics

Today we are going to talk about one of the most dreaded yet most interesting subjects of CA Final, that is, Advanced Auditing and Professional Ethics.

The importance of CA Final Advanced Auditing and Professional Ethics can be understood by the authority to Audit given to Chartered Accountants. It is a subject which is essential for both the CA Final preparation and the professional world.

The change in the business environment worldwide has seen a shift towards strategic decision making and has witnessed greater importance to entrepreneurial roles. This shift demands the Chartered Accountants to be more than just an Accountant or an Auditor, it demands them to be a global solution provider.

Auditing is the core subject of the Chartered Accountancy course. It is not a theoretical subject but a practical one. At the final level, students are not just expected to acquire knowledge but to use the acquired knowledge in problem-solving.

In the words of ICAI, Audit is one of the most practical oriented subjects in the Chartered Accountancy curriculum.

CA Final Audit Syllabus

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Module 1
Chapter 1	Auditing Standards, Statements and Guidance Notes – An Overview
Chapter 2	Audit Planning, Strategy and Execution
Chapter 3	Risk Assessment and Internal Control
Chapter 4	Special Aspects of Auditing in an Automated Environment
Chapter 5	Audit of Limited Companies
Chapter 6	Audit Reports
Module 2
Chapter 7	Audit Committee and Corporate Governance
Chapter 8	Audit of Consolidated Financial Statements
Chapter 9	Audit of Banks
Chapter 10	Audit of Insurance Companies
Chapter 11	Audit of Non-Banking Financial Companies
Chapter 12	Audit under Fiscal Laws
Module 3
Chapter 13	Audit of Public Sector Undertakings
Chapter 14	Liabilities of Auditors
Chapter 15	Internal Audit, Management and Operational Audit
Chapter 16	Due Diligence, Investigation and Forensic Audit
Chapter 17	Peer Review and Quality Review
Chapter 18	Professional Ethics

Detailed Syllabus of CA Final Audit

Module 1
Chapter 1	AUDITING STANDARDS, STATEMENTS & GUIDANCE NOTES - AN OVERVIEW
1	Introduction
2	Historical Retrospect
3	Auditing and Assurance Standards Board-Scope and Functions
	3.1 Setting up of AASB
	3.2 Scope and Functions of AASB
	3.3 Scope of SAs
	3.4 Procedure for Issuing SAs
	3.5 Compliance with the SAs
	3.6 Linkage between SAs and Disciplinary Proceedings
4	Framework of Standards and Guidance Notes on Related Services
5	Quality Control and Engagement Standards
	5.1 Structure of SAs
6	Authority Attached to the Documents Issued by the Institute/MCA
	6.1 Statements 6.2 Guidance Notes 6.3 Accounting Standards and Standards on Auditing 6.4 Accounting Standards 6.5 Ind AS
7	Guidance Notes
	7.1 Guidance Note on Tax Audit under Section 44AB of the Income-Tax Act
	7.2 Guidance Note on Tax Audit under Section 44AB of the Income-Tax Act
	7.3 Guidance Note on The Companies (Auditor’s Report) Order, 2020
8	Guidance Note(s) on Related Services
9	SQC 1- Quality Control for Firms that Perform Audits and Reviews of Financial Statement and Other Assurance and Related Services Engagements
10	SAs - Brief Overview 10.1 SA 200: Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Standards on Auditing 10.2 SA 210: Agreeing the Terms of Audit Engagements 10.3 SA 220: Quality Control for an Audit of Financial Statements 10.4 SA 230: Audit Documentation 10.5 SA 240: The Auditor’s Responsibility Relating to Fraud in an Audit of Financial Statements 10.6 SA 250: Consideration of Laws and Regulations in an Audit of Financial Statements 10.7 SA 260: Communication with Those Charged with Governance 10.8 SA 265: Communicating Deficiencies in Internal Control to Those Charged with Governance and Management 10.9 SA 299: Responsibility of Joint Auditors 10.10 SA 300: Planning an Audit of Financial Statements 10.11 SA 315: Identifying and Assessing the Risks of Material Misstatement Through Understanding the Entity and Its Environment 10.12 SA 320: Materiality in Planning and Performing an Audit 10.13 SA 330: The Auditor’s Responses to Assessed Risks 10.14 SA 402: Audit Considerations Relating to an Entity Using a Service Organisation 10.15 SA 450: Evaluation of Misstatements Identified During the Audit 10.16 SA 500: Audit Evidence 10.17 SA 501: Audit Evidence—Specific Considerations for Selected Items 10.18 SA 505: External Confirmations 10.19 SA 510: Initial Audit Engagements- Opening Balances 10.20 SA 520: Analytical Procedures 10.21 SA 530: Audit Sampling 10.22 SA 540: Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures 10.23 SA 550: Related Parties 10.24 SA 560: Subsequent Events 10.25 SA 570: Going Concern 10.26 SA 580: Written Representations 10.27 SA 600: Using the Work of Another Auditor 10.28 SA 610: Using the Work of Internal Auditors 10.29 SA 620: Using the Work of an Auditor’s Expert 10.30 SA 700: Forming an Opinion and Reporting on Financial Statements 10.31 SA 701: Communicating Key Audit Matters in the Independent Auditor’s Report 10.32 SA 705: Modifications to the Opinion in the Independent Auditor’s Report 10.33 SA 706: Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report 10.34 SA 710: Comparative Information—Corresponding Figures and Comparative Financial Statements 10.35 SA 720: The Auditor’s Responsibility Relating to Other Information
Chapter 2	AUDIT PLANNING, STRATEGY & EXECUTION
1	Commencing an Audit 1.1 Benefits/Advantages of Planning in an Audit of Financial Statements 1.2 Nature and Extent of Planning 1.3 Planning - A Continuous Process 1.4 Overall Audit Strategy and Audit Plan - Responsibility of the Auditor 1.5 Acceptance and Continuance of Client Relationships and Audit Engagements 1.6 Contents of an Audit Plan 1.7 Changes to Planning Decisions
2	Overall Audit Strategy 2.1 Factors while establishing Overall Audit Strategy 2.2 Benefits of Overall Audit Strategy 2.3 Considerations in Establishing the Overall Audit Strategy 2.4 Documenting the Audit Plan 2.5 Relationship between the Overall Audit Strategy and the Audit Plan
3	Audit Programme 3.1 Formulating an Audit Programme 3.2 Drawing up the Audit Programme
4	Audit Execution 4.1 Execution Planning 4.2 Risk and Control Evaluation 4.3 Testing 4.4 Reporting 4.5 Other Important Considerations
Chapter 3	RISK ASSESSMENT AND INTERNAL CONTROL
1	Risk Assessment 1.1 Identification of Risks 1.2 Audit Risk Components 1.3 Steps for Risk Identification
2	Risk-based Audit Approach 2.1 Audit Risk Analysis 2.2 General Steps in the Conduct of Risk-Based Audit
3	Internal Control System - Nature, Scope, Objectives and Structure 3.1 Nature of Internal Control 3.2 Scope of Internal Controls 3.3 Objectives of Internal Control System 3.4 Structure of Internal Control
4	Components of Internal Controls 4.1 Control Environment 4.2 Entity’s Risk Assessment Process 4.3 Control Activities 4.4 Information System, including the Related Business Processes, Relevant to Financial Reporting, and Communication 4.5 Monitoring of Controls
5	Review of the system of Internal Controls
6	Internal Control Assessment & Evaluation 6.1 Techniques of Evaluation of Internal Control
7	Reporting to clients on Internal Control Weaknesses
8	Frameworks of Internal Control 8.1 International Internal Control Frameworks
Chapter 4	SPECIAL ASPECTS OF AUDITING IN AN AUTOMATED ENVIRONMENT
1	Key Features of an Automated Environment
2	Key concepts of Auditing in Real-Time Environment such as E-Commerce, ERP, Core Banking, etc.
3	Understanding and Documenting Automated Environment
4	Consideration of Automated Environment at each phase of Audit Cycle
5	Enterprise Risk Management Overview
6	Assessing IT-related Risks and Controls
7	Evaluating Risks and Controls at Entity Level and Process Level
8	Using relevant Analytical Procedures and Tests using Data Analytics
9	Standards, Guidelines and Procedures-using Relevant Frameworks and Best Practices
Chapter 5	COMPANY AUDIT
1	Appointment of Auditors 1.1 Appointment of First Auditors 1.2 Appointment of Subsequent Auditors/Re-appointment of Auditors 1.3 Filling of a Casual Vacancy
2	Eligibility, Qualifications and Disqualifications of an Auditor
3	Rotation of Auditors 3.1 Applicability of section 139(2) Rotation of Auditors 3.2 Manner of Rotation of Auditors by the Companies on Expiry of their Term
4	Provisions relating to Audit Committee 4.1 Applicability of section 177 i.e. Constitution of Audit Committee 4.2 Manner and procedure of selection and appointment of auditors
5	Auditor’s Remuneration
6	Removal of Auditors 6.1 Removal of Auditor before Expiry of Term 6.2 Appointment of Auditor other than retiring Auditor
7	Ceiling on Number of Audits
8	Powers/Rights of Auditors 8.1 Powers / Rights of Comptroller and Auditor-General of India
9	Duties of Auditors
10	Joint Audit
11	Audit of Branch Office Accounts
12	Cost Audit
13	Punishment for non-compliance
14	Final Accounts Preparation and Presentation 14.1 Financial Statements 14.2 Consolidated Financial Statement 14.3 Penalty for contravention 14.4 Constitution of National Financial Reporting Authority 14.5 Form of the Balance Sheet
15	Significance of True and Fair
16	Divisible Profits, Dividends and Reserves 16.1 Depreciation under Section 123 of the Companies Act, 2013 read with Schedule II to the Companies Act, 2013 16.2 Law relating to dividends 16.3 Right to dividend, rights shares and bonus shares to be held in abeyance pending registration of transfer of shares 16.4 Power to close register of members or debenture-holders or other security holders 16.5 Interim Dividend 16.6 Payment of dividend and the Income-tax Act 16.7 Audit procedure for “Payment of Dividend” 16.8 Reserves 16.9 Deferred Taxation 16.10 Non-provision of Tax in the Accounts
17	Depreciation
18	Salient features of Limited Liability Partnerships (LLP) Audit
19	Audit Report 19.1 Reporting Under CARO, 2020
Appendix 1	Comprehensive Case Studies on CARO 2020
Appendix 2	Key Aspects discussed in Guidance Note on Internal Financial Control over Financial Reporting
Chapter 6	AUDIT REPORTS
1	Introduction
2	The Auditor’s Report on Financial Statements
3	SA-700, “Forming an Opinion and Reporting on the Financial Statements” 3.1 Audit Report 3.2 Basic Elements of the Auditor’s Report 3.3 Auditor’s Report Prescribed by Law or Regulation 3.4 Auditor’s Report for Audits Conducted in accordance with both Standards on Auditing issued by ICAI and International Standards on Auditing or Auditing Standards of any other jurisdiction 3.5 Supplementary Information Presented with the Financial Statements
4	SA 701, “Communicating Key Audit Matters in the Independent Auditor’s Report” 4.1 Purpose 4.2 Scope 4.3 Determining Key Audit matters 4.4 Communicating Key Audit matters
5	SA 705, “Modifications to the Opinion in the Independent Auditor’s Report” 5.1 Types of modified opinions 5.2 Objective 5.3 Circumstances when a Modification to the Auditor’s Opinion is required 5.4 Determining the type of Modification to the Auditor’s Opinion 5.5 Consequence of an Inability to Obtain Sufficient Appropriate Audit Evidence due to a Management-Imposed Limitation after the Auditor has accepted the Engagement 5.6 If the Auditor Decides to Withdraw 5.7 Other Considerations Relating to an Adverse Opinion or Disclaimer of Opinion 5.8 Form and Content of the Auditor’s Report when the opinion is modified 5.9 Communication with those charged with Governance
6	SA 706, “Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report” 6.1 Objective 6.2 When to give Emphasis of Matter Paragraphs in the Auditor’s Report? 6.3 When the auditor includes an Emphasis of Matter Paragraph in the Auditor’s Report
7	Distinction between Notes on Accounts and Qualifications
8	Distinction between Audit Report and Certificate
9	Communication to Management and those charged with Governance 9.1 When all of those charged with Governance are involved in managing the entity 9.2 Matters to be communicated 9.3 Planned Scope and Timing of the Audit 9.4 Significant findings from the Audit
10	Self Review Threats 10.1 Meaning- Self Review Threats 10.2 Safeguards that may eliminate or reduce such threats to an acceptable level fall into two broad categories
11	Reporting Requirements in case of Comparative Information 11.1 Audit Procedures for Comparative Information 11.2 Audit Reporting
12	Illustrative Audit Reports
Chapter 7	AUDIT COMMITTEE AND CORPORATE GOVERNANCE
1	Introduction
2	Corporate Governance
3	The Legal Framework 3.1 Issues of corporate governance 3.2 Applicability of LODR Regulations
4	Audit Committee under LODR Regulations 4.1 Qualified and Independent Audit Committee [Regulation 18(1)] 4.2 Meeting of Audit Committee [Regulation 18(2)] 4.3 Powers of Audit Committee [Regulations 18(2)] 4.4 Role of Audit Committee [Part C (A) of Schedule II] 4.5 Resignation of Statutory Auditors from Listed Entities and their Material Subsidiaries
5	Audit Committee under section 177 of the Companies Act, 2013
6	Functions of the Audit Committee
7	Review of Information by Audit Committee
8	Role of Auditor in Audit Committee and Certification of Compliance of Conditions of Corporate Governance 8.1 Auditor’s Responsibility 8.2 General Principles of Audit 8.3 Documentation 8.4 Management Representations 8.5 Verification regarding Composition of Board [Regulations 17 and 17A] 8.6 Limited Review of the audit of all the Entities whose accounts are to be consolidated with the Listed Entity
9	Remuneration of directors [Part C of Schedule V] 9.1 Approval of Remuneration of Directors [Regulation 17(6)]
10	Obligations With respect to employees including Senior management, key managerial persons, directors and promoters [Regulations 17(2) to 17(4), 17A, 25(5), 25(6), 26(1), 26 (2), 26(4) to 26(6)] 10.1 Meeting of Board of Directors 10.2 Compliance of SA 250, ‘Consideration of Laws and Regulations in an Audit of Financial Statement ’
11	Code of Conduct [Regulations 17(5), 26(3), 46(2) and Part D of Schedule V]
12	Vigil Mechanism [Regulations 22, 46 and Part C of Schedule V]
13	Subsidiary of Listed Entity [Regulations 16(c), 24 and 46 and Part C of Schedule V] 13.1 Secretarial Audit of Listed Entity and its Material Unlisted Subsidiaries [Regulation 24A]
14	Nomination and Remuneration committee [Regulation 19 and Part D of Schedule II]
15	Stakeholders Relationship Committee [Regulations 20 and Part D of Schedule II]
16	Risk Management Committee [Regulation 21]
17	Statement of Deviations or Variations (s) [Regulation 32 and Part C of Schedule II]
18	Information to Shareholders [Regulation 36]
19	Transfer or Transmission or Transposition of Securities [Regulation 40]
20	Compliance Certificate [Part B of Schedule II]
21	Disclosures-Management Discussion and Analysis [Schedule V]
22	Other Disclosures 22.1 Disclosure and Transparency [Regulation 4] 22.2 Disclosure of Events or Information [Regulation 30(1), (5) (8)] 22.3 Related Party Disclosure [Regulations 23, 27, 46 and Schedule V] 22.4 Disclosure of Accounting Treatment [Schedule V] 22.5 Disclosures in relation to the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 (Schedule V)
23	Report on Corporate Governance [Regulation 27 of Schedule II]
24	Auditors’ Certificate
Chapter 8	AUDIT OF CONSOLIDATED FINANCIAL STATEMENTS
1	Introduction 1.1 Consolidation of Financial Statements – Mandatory under the Companies Act, 2013
2	Responsibility of Parent
3	Responsibility of the Auditor of the Consolidated Financial Statements
4	Audit Considerations
5	Auditing the consolidation
6	Special Considerations 6.1 Permanent Consolidation Adjustments 6.2 Current Period Consolidation Adjustments
7	Management Representations
8	Reporting 8.1 When the Parent’s Auditor is also the Auditor of all its Components 8.2 When the Parent’s Auditor is not the Auditor of all its Components 8.3 When the Component(s) Auditor Reports on Financial Statements under an Accounting Framework Different than that of the Parent 8.4 When the Component(s) Auditor Reports under an Auditing Framework different than that of the Parent 8.5 Components not Audited
9	AUDIT OF BANKS
1	Introduction
2	Legal Framework
3	Form and Content of Financial Statements 3.1 Audit of Accounts & Appointment of Auditor
4	Conducting an Audit 4.1 Special Considerations in IT Environment 4.2 Internal Audit and Inspection 4.3. Stress Testing 4.4 BASEL III Framework
5	Internal Control in Certain Selected Areas
6	Compliance with CRR and SLR requirements
7	Verification of Assets
8	Verification of Capital & Liabilities
9	Auditor's Report 9.1 Format of Audit Report 9.2 Long Form Audit Report 9.3 Other Reporting Requirements
10	Concurrent Audit 10.1 Scope of Concurrent Audit 10.2 Concurrent Audit System in Commercial Banks 10.3 Coverage of Business/Branches 10.4 Types of Activities to be Covered10.5 Appointment of Concurrent Auditors and Accountability10.6 Remuneration of Concurrent Auditor10.7 Reporting Systems
11	Audit Committee
Chapter 10	AUDIT OF INSURANCE COMPANY
1	Introduction
2	Legal Framework 2.1 Registration of Indian Insurance Companies 2.2 Requirements as to the Minimum Paid-up Capital 2.3 Insurance Regulatory and Development Authority (IRDA) Act, 1999 and Regulations framed thereunder
3	Form and Contents of Financial Statements
4	Audit of Accounts 4.1 Appointment of Auditors 4.2 Remuneration of Auditors 4.3 Rights and Duties of Branch Auditors 4.4 Investment Risk Management Systems and Process Audit 4.5 Direction of C&AG 4.6 Applicability of CARO, 2020
5	Requirements of the Insurance Act, 1938 vis-a-vis the Companies Act, 2013
6	Auditing in an Information Technology Environment
7	Tax Audit
8	Specific Control Procedures Related to Audit of Life Insurance Companies 8.1 Requirements of Schedule A to the IRDA (Preparation of Financial Statements and Auditors’ Report of Insurance Companies) Regulations, 2002 8.2 Audit of Accounts of Life Insurance Companies
9	Specific Control Procedures Related to Audit of General Insurance Company 9.1 Requirements of Schedule B to the IRDA (Preparation of Financial Statements and Auditors’ Report of Insurance Companies) Regulations, 2002 9.2 Audit of Accounts of General Insurance Business
10	Contents of Auditor’s Report 10.1 Signatures and Reports to be attached with the Accounts and Statements
Chapter 11	AUDIT OF NON-BANKING FINANCIAL COMPANIES
1	Introduction
2	Difference between Banks and NBFCs
3	Prudential Norms 3.1 Capital Requirements 3.2 Income Recognition 3.3 Provisioning Requirements
4	Audit Procedures
5	Classification of Frauds by NBFCs
6	Audit Check-List
7	Auditor’s Duty 7.1 Compliance with NBFC Auditor’s Report: RBI Directions 7.2 Compliance with CARO 2020
8	Indian Accounting Standards 8.1 Applicability of IND AS on NBFCs 8.2 Format for preparation of financial statements by NBFCs under Ind-AS 8.3 Differences between Division II (Ind- AS- Other than NBFCs) and Division III (Ind-AS-NBFCs) of Schedule III
Chapter 12	AUDIT UNDER FISCAL LAWS
UNIT 1: Audit under Direct Tax Laws
1	Introduction
2	Audit(s) under the Income-Tax Act, 1961 2.1 Audit of Public Trusts 2.2 Audit of Accounts w.r.t. the Claim for Deduction under Sections 35D and 35E
3	Tax Audit under Section 44AB 3.1 Tax Auditor 3.2 Income Computation and Disclosure Standards (ICDS): Section 145 of the Income-tax Act, 1961
4	Audit Procedures
5	Audit Report 5.1 Form No. 3CA 5.2 Form No. 3CB 5.3 Form No. 3CD
6	Code of Ethics and other matters
UNIT 2: Audit under Indirect Tax Laws
1	Introduction
2	Objective of GST Audit
3	Types of Audit Under GST
4	Audit by the Tax Authorities Under Section 65
5	Special Audit Under Section 66
6	Audit of Accounts [Section 35(5) Read with Section 44(2) and Rule 80] 6.1 Who is liable to GST Audit
7	Procedure of Audit 7.1 Preliminary Review 7.2 Audit Planning 7.3 Steps for the GST Audit 7.4 Audit Approach 7.5 Accounting Standard Vs. GST 7.6 GST Audit in Computerised Environment 7.7 Various Returns Annual Compliances under GST
8	Filling of Annual Return in Form GSTR-9 8.1 By the Registered Person 8.2 Procedure of filing FORM GSTR-9: Annual Return 8.3 Details required in the FORM GSTR 9
9	Form GSTR-9C & Certification by the Auditor
10	Consequences of not filing the Annual Return in Form GSTR-9 and not getting the Accounts Audited in Form GSTR-9C

Skill-wise and Section-wise weightage of marks November 2019 Examination

Final Course Paper 3: Advanced Auditing and Professional Ethics
Sections	Weightage	Content Area	Level I	Level II	Level III
			Comprehension & Knowledge	Analysis & Application	Evaluation & Synthesis
	75% - 125%		20% - 35%	45% - 70%	10% - 20%
	25% - 40%	1. Auditing Standards, Statements and Guidance Notes Auditing and Assurance Standards (AASs); Statements and Guidance Notes on Auditing issued by the ICAI; Significant differences between Auditing and Assurance Standards and International Standards on Auditing.
		2. Audit strategy, planning and programming: Planning the flow of audit work; audit strategy, planning programme and importance of supervision: review of audit notes and working papers; drafting of reports; principal’s ultimate responsibility; extent of delegation; control over quality of audit work; reliance on the work of other auditor, internal auditor or an expert.
		3. Risk Assessment and Internal Control: • Evaluation of internal control procedures; techniques including questionnaire, flowchart; internal audit and external audit, coordination between the two.
		18. Salient features of Sarbanes – Oxley Act, 2002 with special reference to reporting on internal control.
		4. Audit under computerized information system (CIS) environment Special aspects of CIS Audit Environment, need for review of internal control especially procedure controls and facility controls. Approach to audit in CIS Environment, use of computers for internal and management audit purposes: audit tools, test packs, computerized audit programmes; Special Aspects in Audit of E-Commerce Transaction.
		5. Special audit techniques (a) Selective verification; statistical sampling: Special audit procedures; physical verification of assets, direct confirmation of debtors and creditors (b) Analytical review procedures (c) Risk-based auditing.
		8. Audit Reports: Audit reports; Qualifications, notes on accounts, distinction between notes and qualifications, detailed observations by the statutory auditor to the management vis-a-vis obligations of reporting to the members.
II	15% - 20%	6. Audit of Limited Companies: Relevant provisions under the Companies Act, 2013 relating to Audit and Auditors and Rules made thereunder; Audit of branches; joint audits; Dividends and divisible profits- financial, legal, and policy considerations. Rights, duties of auditors.
		7. Liabilities of Auditors: Professional negligence; Civil liabilities; Criminal liabilities; Liabilities under different statutes - for example, Income Tax Act, Companies Act.
		9. Audit Committee and Corporate Governance
		10. Audit of Consolidated Financial Statements: Provisions under the Companies Act, 2013 in respect of Accounts of Companies and Rules made thereunder; Audit of Consolidated Financial Statements- responsibility of parent company, auditor of the consolidated financial statements; audit considerations- permanent consolidation, current period consolidation; reporting.
		Provisions under the Companies Act, 2013 in respect of Accounts of Companies and Rules made thereunder. Audit of Consolidated Financial Statements, Audit Reports and Certificates for Special Purpose engagements; Certificates under the Payment of Bonus Act, import/export control authorities, etc.; Specific services to non-audit clients; Certificate on Corporate Governance.
III	15% - 35%	11. Special features of audit of Banks, Insurance Co-operative Societies & Non-Banking Financial Companies
		12. Audit under Fiscal Laws: Audit under Fiscal Laws, viz, Direct and Indirect Tax Laws.
		13. Cost Audit
IV	10% - 15%	14. Special features in audit of public sector companies. Directions of Comptroller and Auditor General of India to statutory auditors; Concepts of propriety and efficiency audit.
		15. Internal Audit, Management and Operational Audit: Nature and purpose, organisation, audit programme, behavioural problems; Internal Audit Standards issued by the ICAI; Specific areas of management and operational audit involving review of internal control, purchasing operations, manufacturing operations, selling and distribution, personnel policies, systems and procedures. Aspects relating to concurrent audit.
		16. Investigation and Due Diligence
		17. Concept of Peer Review
V	10% - 15%	19. Professional Ethics: Code of Ethics with special reference to the relevant provisions of the Chartered Accountants Act, 1949 and the Regulations thereunder.

Skill Level	Description of skills	Nature of Questions	Illustrative verbs
Comprehension & Knowledge	Knowledge involves recognizing or remembering facts, terms and basic concepts. Comprehension involves demonstrating understanding of facts.	Questions set at this level require recognition and recall of concepts, principles and provisions. Such questions may involve recalling a definition, explaining a concept, describing a process, discussing a provision of law, listing the conditions to be satisfied or classifying under the appropriate head.	List, State, Define, Describe, Explain, Recognize, Identify, Classify, Discuss
Analysis & Application	Application involves use of acquired knowledge in problem-solving. Analysis involves identifying issues and examining the same to resolve problems.	Questions set at this level require applying and analysing concepts/provisions/theories/principles learnt, in problem solving. Such questions may involve making computations/ calculations/estimations, examining issues, reconciling bank statements, solving problems by integrating provisions, identifying the nature of expenditure or income, determining profit or loss etc. The level of complexity ranges from low to moderate.	Application: Apply, Identify, Prepare, Calculate, Reconcile, Solve Analysis: Analyse, Examine, Compute, Solve, Advise, Determine, Estimate
Evaluation & Synthesis	Synthesis involves integration of data and information by identifying and segregating relevant and irrelevant facts. Evaluation involves detailed analysis of such integrated data to resolve complex problems and/or make appropriate judgment.	Questions set at this level involve application of higher-order skills of analysis and integration of two or more provisions/concepts to resolve complex problems and issues. Such questions may involve computation of income/profit/loss by integrating, analysing and applying concepts/ provisions/standards, interpretation of financial statements/provisions of law, evaluation of a proposal for assessing its viability or recommendation of a course of action. The level of complexity involved is high.	Compute, Examine, Advise, Integrate, Decide, Evaluate, Recommend, Interpret

Which books to refer for CA Final Audit?

At this stage, you would already know how important The Institute of Chartered Accountants of India’s Study Material is.

So, our suggestion is, stick to the Study Materials by the Institute. Referring to other books for clearing doubts is alright but you should not substitute it as your main source of studies.

Free Resources Available for CA Final Audit

The Institute of Chartered Accountants of India has provided a plethora of resources for students to prepare for their exams. They are available online and they are absolutely free. The many resources provided by the ICAI are mentioned below with a link to download them.

Study Material for CA Final Audit

The Study Material relevant for each attempt can be found on the Institute of Chartered Accountants of India’s Knowledge Portal. The Institute has a portal, known as Board of Studies Knowledge Portal, wherein all the modules of the Study Materials can be found.

The Study Material relevant for May 2021 examinations onwards can be found here.

The Institute of Chartered Accountants of India does not issue the Practice Manual anymore. Instead, the practice questions for each chapter are included at the end of each chapter under Test Your Knowledge. Earlier this portion also included Multiple Choice Questions but now there are only theoretical questions available there.

Multiple Choice Questions Booklet

From May 2021 onwards, the Institute has removed the Multiple Choice Questions from the Study Materials and provided a separate Multiple Choice Questions Booklet for CA Intermediate students.

With the removal of MCQs from the CA Final Study Materials, it is likely that the Institute is planning to do the same for CA Final as well. We will update the link for the Case Scenarios and Multiple Choice Questions (MCQs) booklet for CA Final as soon as the Institute releases it.

Till then you can practice Case Study based MCQs from Edu91. The best thing is, it's absolutely free for the enrolled students.

Revision Test Papers

The preparation for the Chartered Accountancy exams comprises of three stages - studying, revising and practicing. The study part is covered by the Study Material. And for the revision part, the Institute launches the Revision Test Papers booklet.

These booklets consist of the relevant Amendments along with the important questions for each chapter. It is crucial to pay special attention to the Revision Test Papers as the questions mentioned in there are very important for the examination.

If you don’t have the relevant Revision Test Paper Booklet for your attempt, you can download it from below.

CA Final - Advanced Auditing and Professional Ethics Revision Test Papers
Attempt	Medium	Link
November 2020	English	https://resource.cdn.icai.org/61200bos49746rtpfinalnew-nov20-p3new.pdf
November 2020	Hindi	https://resource.cdn.icai.org/61715bos50259.pdf
May 2020	English	https://resource.cdn.icai.org/57974bos47269p3.pdf
May 2020	Hindi	https://resource.cdn.icai.org/58751bos47863.pdf
November 2019	English	https://resource.cdn.icai.org/56622bos45854p3.pdf
November 2019	Hindi	https://resource.cdn.icai.org/57263bosfinalnewp3nov19hn.pdf
May 2019	English	https://resource.cdn.icai.org/53952bos43332-rtpfinalmay19-3.pdf
May 2019	Hindi	https://resource.cdn.icai.org/55279bos44511.pdf

Note: While referring to the Revision Test Papers of previous attempts, make sure to apply the amendments relevant for your attempt in solving the questions.

Mock Test Papers

Your preparation for CA exams is not complete until you have solved Mock Test Papers. The Institute releases Mock Test Papers before each attempt. You can download these papers and solve them to be prepared for the exam.

You can download the Mock Test Paper for CA Final Audit along with the answers by clicking here.

Previous Year Question Paper

The previous year question papers for each subject are also available on the Institute of Chartered Accountants of India’s website. Students can find the question papers from May 2018 onwards.

Practising question papers is a very good way of preparing for exams. Once you have completed your syllabus, you need to test your knowledge. By solving the question papers you will get the idea of what to expect in the paper as well as test your preparation and understand which areas you lack in and how much revision is required.

You can find the direct link of the previous year question papers for CA Final Audit from below -

CA Final - Advanced Auditing and Professional Ethics Previous Year Papers
Attempt	Direct Link
May 2018	https://resource.cdn.icai.org/50102bos39706finalp3-new.pdf
November 2018	https://resource.cdn.icai.org/52478bos42072qpnov18-finalnew-p3.pdf
May 2019	https://resource.cdn.icai.org/55430bos44768-finalnew-p3.pdf
November 2019	https://resource.cdn.icai.org/57432bos46507nov19-p3-finalnew.pdf
November 2020	https://resource.cdn.icai.org/62122bos061220-qp-final-p3new.pdf
November 2020 Cycle II	https://resource.cdn.icai.org/62889bos300121-fnew-p3.pdf

CA Final SA List

Here is a list of all the major SAs for CA Final Audit including Standards on Quality Control (SQCs), Standards on Auditing (SAs), Standards on Review Engagements (SREs), Standards on Assurance Engagements (SAEs), and Standards on Related Services (SRSs)

Standards on Quality Control (SQCs)
SQC 1	Quality Control for Firms that Perform Audit and Reviews of Historical Financial Information, and Other Assurance and Related Services Engagements
Standards on Auditing (SAs)
SA 200	Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Standards on Auditing
SA 210	Agreeing the Terms of Audit Engagements
SA 220	Quality Control for an Audit of Financial Statements
SA 230	Audit Documentation
SA 240	The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements
SA 250	Consideration of Laws and Regulations in an Audit of Financial Statements
SA 260	Communication with Those Charged with Governance
Revised SA 260	Communication with Those Charged with Governance
SA 265	Communicating Deficiencies in Internal Control to Those Charged with Governance and Management
SA 299	Responsibility of Joint Auditors
Revised SA 299	Joint Audit of Financial Statements
SA 300	Planning an Audit of Financial Statements
SA 315	Identifying and Assessing the Risks of Material Misstatement Through Understanding the Entity and Its Environment
SA 320	Materiality in Planning and Performing an Audit
SA 330	The Auditor’s Responses to Assessed Risks
SA 402	Audit Considerations Relating to an Entity Using a Service Organisation
SA 450	Evaluation of Misstatements Identified During the Audit
SA 500	Audit Evidence
SA 501	Audit Evidence-Specific Considerations for Selected Items
SA 505	External Confirmations
SA 510	Initial Audit Engagements – Opening Balances
SA 520	Analytical Procedures
SA 530	Audit Sampling
SA 540	Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures
SA 550	Related Parties
SA 560	Subsequent Events
SA 570	Going Concern
Revised SA 570	Going Concern
SA 580	Written Representations
SA 600	Using the Work of Another Auditor
SA 610	Using the Work of Internal Auditors
Revised SA 610	Using the Work of Internal Auditors
SA 620	Using the Work of an Auditor’s Expert
SA 700	Forming an Opinion and Reporting on Financial Statements
Revised SA 700	Forming an Opinion and Reporting on Financial Statements
SA 701	Communicating Key Audit Matters in the Independent Auditor’s Report
SA 705	Modifications to the Opinion in the Independent Auditor’s Report
Revised SA 705	Modifications to the Opinion in the Independent Auditor’s Report
SA 706	Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report
Revised SA 706	Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report
SA 710	Comparative Information—Corresponding Figures and Comparative Financial Statements
SA 720	The Auditor’s Responsibility in Relation to Other Information in Documents Containing Audited Financial Statements
Revised SA 720	The Auditor’s Responsibilities Relating to Other Information
SA 800	Special Considerations-Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks
SA 805	Special Considerations-Audits of Single Financial Statements and Specific Elements, Accounts or Items of a Financial Statement
SA 810	Engagements to Report on Summary Financial Statements
Standards on Review Engagements (SREs)
SRE 2400	Engagements to Review Financial Statements
SRE 2400 (Revised)	Engagements to Review Historical Financial Statements
SRE 2410	Review of Interim Financial Information Performed by the Independent Auditor of the Entity
Standards on Assurance Engagements (SAEs)
SAE 3400	The Examination of Prospective Financial Information
SAE 3402	Assurance Reports on Controls At a Service Organisation
SAE 3420	Assurance Engagements to Report on the Compilation of Pro Forma Financial Information Included in a Prospectus
Standards on Related Services (SRSs)
SRS 4400	Engagements to Perform Agreed-upon Procedures Regarding Financial Information
SRS 4410	Engagements to Compile Financial Information
SRS 4410 (Revised)	Compilation Engagements

CA Final Audit Amendments

The amendments are a very important part of the Chartered Accountancy level, which you will be well aware of being a CA Final Student. So, for the ease of access, we have provided the Amendments for CA Final Advanced Audit and Professional Ethics. It is sourced directly from ICAI.

Chapter 5: Company Audit

1. Definition of "Government company" [Section 2(45)]:

In this section, the following explanation has been inserted in the definition. Explanation.- For the purposes of this clause, the "paid-up share capital" shall be construed as "total voting power", where shares with differential voting rights have been issued.] [insertion on page no. 5.4 of Study Material as per notification dated 2-3-2020 by way of Exemptions to Government Companies under section 462 with effect from 3-3-2020]

2. “The auditor of the company shall, in his report under section 143, make a statement as to whether the remuneration paid by the company to its directors is in accordance with the provisions of this section, whether remuneration paid to any director is in excess of the limit laid down under this section and give such other details as may be prescribed” (as per section 197(16) of the Companies Act, 2013)

As per Advisory issued by ICAI, the aforesaid reporting requirement for auditors of public companies needs to be covered in auditor’s report under the Section “Report on Other Legal and Regulatory Requirements”. Accordingly, auditors of public companies are advised to comply with the aforesaid reporting requirements in their auditor’s reports. (in) (insertion in point no 4 on page no 5.32 of Study Material.)

3. In section 132 —

(i) after sub-section (1), the following sub-section shall be inserted, namely:—

“(1A) The National Financial Reporting Authority shall perform its functions through such divisions as may be prescribed.”;

[Amendment to be incorporated on Pg 5.47 of SM]

(ii) Every auditor referred to in Rule 3 shall file a return with the NFRA on or before 30th November every year in Form NFRA-2”. (Insertion on Page no 5.48 of SM)

(iii) The Central Government has amended the National Financial Reporting Authority Rules, 2018, by the National Financial Reporting Authority (Amendment) Rules, 2019.

In the National Financial Reporting Authority Rules, 2018, after clause (c) of sub-rule (1) of rule 3, the following explanation shall be inserted, namely:-

“Explanation.- For the purpose of this clause, “banking company” includes ‘corresponding new bank’ as defined in clause (d) of section 2 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970) and clause (b) of section 2 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980) and ‘subsidiary bank’ as defined in clause (k) of section 2 of the State Bank of India (Subsidiary Bank) Act, 1959 (38 of 1959).”.

(insertion on page no 5.48 of SM.)

(iv) Punishment in case of Non-Compliance : (Insertion on Page no 5.50 of SM)

If a company or any officer of a company or an auditor or any other person contravenes any of the provisions of NFRA Rules, the company and every officer of the company who is in default or the auditor or such other person shall be punishable as per the provisions of section 450 of the Act.

Further, as per Section 132(4) of the Companies Act, 2013 as amended by the Companies Amendment Act, 2019, National Financial Reporting Authority, where professional or other misconduct is proved, have the power to make order for:

(A) imposing penalty of—

(i) not less than one lakh rupees, but which may extend to five times of the fees received, in case of individuals; and

(ii) not less than five lakh rupees, but which may extend to ten times of the fees received, in case of firms;

(B) debarring the member or the firm from:

(i) being appointed as an auditor or internal auditor or undertaking any audit in respect of financial statements or internal audit of the functions and activities of any company or body corporate; or

(ii) performing any valuation as provided under section 247, for a minimum period of six months or such higher period not exceeding ten years as may be determined by the National Financial Reporting Authority.

Chapter 7: Audit Committee and Corporate Governance

As per Stock and Exchange Board of India circular no. CIR/CFD/CMD1/114/2019 dated 18th October, 2019 on resignation of statutory auditors from listed entities and their material subsidiaries:

Listed companies are required to make timely disclosures to investors in the securities market for enabling them to take informed investment decisions.
Under Sub-clause (2) of Clause A in Part C of Schedule II under Regulation 18(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI LODR Regulations"), the Audit Committee of a listed entity, inter alia, has to make recommendations for the appointment, remuneration and terms of appointment of auditors of a listed entity. Under Sub-clause (7), the Audit Committee is also responsible for reviewing and monitoring the independence and performance of auditors and the effectiveness of the audit process.
Further, Sub-clause (7A) inserted under Clause A in Part A of Schedule Ill under Regulation 30(2) of SEBI LODR Regulations requires detailed reasons to be disclosed by the listed entities to the stock exchanges in case of resignation of the auditor of a listed entity as soon as possible but not later than twenty-four hours of receipt of such reasons from the auditor.
Regulation 36(5) of the SEBI LODR Regulations lays down certain disclosures to be made part of the notice to the shareholders for an AGM, where the statutory auditors are proposed to be appointed/re-appointed, including their terms of appointment.
Resignation of an auditor of a listed entity / its material subsidiary before completion of the audit of the financial results for the year due to reasons such as pre-occupation may seriously hamper investor confidence and deny them access to reliable information for taking timely investment decisions.
In light of the above, the conditions to be complied with upon resignation of the statutory auditor of a listed entity/material subsidiary w.r.t. limited review / audit report as per SEBI LODR Regulations, are as under:

A. All listed entities/material subsidiaries shall ensure compliance with the following conditions while appointing/re-appointing an auditor:

(i) If the auditor resigns within 45 days from the end of a quarter of a financial year, then the auditor shall, before such resignation, issue the limited review/ audit report for such quarter.
(ii) If the auditor resigns after 45 days from the end of a quarter of a financial year, then the auditor shall, before such resignation, issue the limited review/ audit report for such quarter as well as the next quarter.
(iii) Notwithstanding the above, if the auditor has signed the limited review/ audit report for the first three quarters of a financial year, then the auditor shall, before such resignation, issue the limited review/ audit report for the last quarter of such financial year as well as the audit report for such financial year

B. Other conditions relating to resignation shall include:

(i) Reporting of concerns with respect to the listed entity/its material subsidiary to the Audit Committee:
a. In case of any concern with the management of the listed entity/material subsidiary such as non-availability of information I non-cooperation by the management which may hamper the audit process, the auditor shall approach the Chairman of the Audit Committee of the listed entity and the Audit Committee shall receive such concern directly and immediately without specifically waiting for the quarterly Audit Committee meetings.
b. In case the auditor proposes to resign, all concerns with respect to the proposed resignation, along with relevant documents shall be brought to the notice of the Audit Committee. In cases where the proposed resignation is due to non-receipt of information I explanation from the company, the auditor shall inform the Audit Committee of the details of information I explanation sought and not provided by the management, as applicable.
c. On receipt of such information from the auditor relating to the proposal to resign as mentioned above, the Audit Committee I board of directors, as the case may be, shall deliberate on the matter and communicate its views to the management and the auditor.
(ii) Disclaimer in case of non-receipt of information: In case the listed entity/ its material subsidiary does not provide information required by the auditor, to that extent, the auditor shall provide an appropriate disclaimer in the audit report, which may be in accordance with the Standards of Auditing as specified by ICAI/ NFRA.

The listed entity/ material subsidiary shall ensure that the conditions as mentioned in 6(A) and 6(B) above are included in the terms of appointment of the statutory auditor at the time of appointing/re-appointing the auditor. In case the auditor has already been appointed, the terms of appointment shall be suitably modified to give effect to 6(A) and 6(B) above.

The practicing company secretary shall certify compliance by a listed entity with 6(A) and 6(B) above in the annual secretarial compliance report issued in terms of SEBI Circular no. CIR/CFD/CMD1/27/2019 dated February 08, 2019.

C. Obligations of the listed entity and its material subsidiary:

(i) Format of information to be obtained from the statutory auditor upon resignation: Upon resignation, the listed entity/ its material subsidiary shall obtain information from the Auditor in the format as specified in Annexure A to this Circular. The listed entity shall ensure disclosure of the same under Sub-clause (7A) of Clause A in Part A of Schedule Ill under Regulation 30(2) of SEBI LODR Regulations.
(ii) Co-operation by listed entity and its material subsidiary: During the period from when the auditor proposes to resign till the auditor submits the report for such quarter I financial year as specified above, the listed entity and its material subsidiaries shall continue to provide all such documents/information as may be necessary for the audit I limited review.
(iii) Disclosure of Audit Committee's views to the Stock Exchanges: Upon resignation of the auditor, the Audit Committee shall deliberate upon all the concerns raised by the auditor with respect to its resignation as soon as possible, but not later than the date of the next Audit Committee meeting and communicate its views to the management. The listed entity shall ensure the disclosure of the Audit Committee's views to the stock exchanges as soon as possible but not later than twenty-four hours after the date of such Audit Committee meeting.

7. In case an entity is not mandated to have an Audit Committee, then the board of directors of the entity shall ensure compliance of this circular.

8. The Stock Exchanges are advised to bring the provisions of this circular to the notice of all listed entities and their material subsidiaries and also disseminate it on their websites.

9. In case the auditor is rendered disqualified due to operation of any condition mentioned in Section 141 of the Companies Act, 2013, then the provisions of this Circular shall not apply.

10. The Circular is issued in exercise of the powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992 read with regulations 18(3), 30(2) and 36(5) of the SEBI LODR Regulations and shall be in addition to the provisions of Companies Act, 2013.

Chapter 18: Professional Ethics

Joining/Association with “Networks” by Members in Practice

It is clarified that associations with “Network” as a medium of referral of professional work is permissible only if the Network is registered with the Institute, comprising only of Chartered Accountants / Chartered Accountant Firms, and governed by the Institute’ s Network Guidelines, which may be accessed here.

Members‟ attention is also drawn towards following provisions of Chartered Accountants Act, 1949 (hereinafter referred to as the “Act”) :

Clause (2) of Part I of First Schedule to the Act

A Chartered Accountant in practice shall be deemed to be guilty of professional misconduct, if he pays or allows or agrees to pay or allow, directly or indirectly, any share, commission or brokerage in the Fees or profits of his professional business, to any person other than a member of the Institute or a partner or a retired partner or the legal representative of a deceased partner, or a member of any other professional body or with such other persons having such qualifications as may be prescribed, for the purpose of rendering such professional services from time to time in or outside India.

Explanation — In this item, “partner” includes a person residing outside India with whom a chartered accountant in practice has entered into partnership which is not in contravention of item (4) of this Part;

Clause (3) of Part I of First Schedule to the Act

A Chartered Accountant in practice shall be deemed to be guilty of professional misconduct, if he accepts or agrees to accept any part of the profits of the professional work of a person who is not a member of the Institute:

Provided that nothing herein contained shall be construed as prohibiting a member from entering into profit sharing or other similar arrangements, including receiving any share commission or brokerage in the fees, with a member of such professional body or other person having qualifications, as is referred to in item (2) of this Part;

Clause (5) of Part I of First Schedule to the Act

A Chartered Accountant in practice shall be deemed to be guilty of professional misconduct, if he secures, either through the services of a person who is not an employee of such Chartered Accountant or who is not his partner or by means which are not open to a chartered accountant, any professional business.

Provided that nothing herein contained shall be construed as prohibiting any arrangement permitted in terms of items (2), (3) and (4) of this Part;

Clause (6) of Part I of First Schedule to the Act

A Chartered Accountant in practice shall be deemed to be guilty of professional misconduct, if he solicits clients or professional work either directly or indirectly by circular, advertisement, personal communication or interview or by any other means:

Provided that nothing herein contained shall be construed as preventing or prohibiting —

(i) any chartered accountant from applying or requesting for or inviting or securing professional work from another chartered accountant in practice; or

(ii) a member from responding to tenders or enquiries issued by various users of professional services or organisations from time to time and securing professional work as a consequence;

In view of the above provisions, it is not permissible for members in practice to join Networks (by whatever name called) other than the Networks registered with the Institute.

Members may note that joining such Networks as mentioned above may result in noncompliance of the above stated provisions of the Act resulting in disciplinary proceedings in accordance with the provisions of the Act.

A - Meaning of Network & Network Firm –

Network - A larger structure (a) That is aimed at co-operation; and (b) That is clearly aimed at profit or cost-sharing or shares common ownership, control or management, common quality control policies and procedures, common business strategy, the use of a common brand name, or a significant part of professional resources.

Network Firm – “Network Firm” means a firm or Entity that belongs to a Network.

B - Concept of Network

1. To enhance their ability to provide professional services, firms frequently form larger structures with other firms and entities. Whether these larger structures create a network depends on the particular facts and circumstances and does not depend on whether the firms and entities are legally separate and distinct. For example, a larger structure may be aimed only at facilitating the referral of work, which in itself does not meet the criteria necessary to constitute a network. Alternatively, a larger structure might be such that it is aimed at co-operation and the firms share a common brand name, a common system of quality control, or significant professional resources and consequently is deemed to be a network.

2. The judgment as to whether the larger structure is a network shall be made in light of whether a reasonable and informed third party would be likely to conclude, weighing all the specific facts and circumstances, that the entities are associated in such a way that a network exists. This judgment shall be applied consistently throughout the network.

3. Where the larger structure is aimed at co-operation and it is clearly aimed at profit or cost-sharing among the entities within the structure, it is deemed to be a network. However, the sharing of immaterial costs does not in itself create a network. In addition, if the sharing of costs is limited only to those costs related to the development of audit methodologies, manuals, or training courses, this would not in itself create a network.

Further, an association between a firm and an otherwise unrelated entity to jointly provide a service or develop a product does not in itself create a network.

4. Where the larger structure is aimed at cooperation and the entities within the structure share common ownership, control or management, it is deemed to be a network. This could be achieved by contract or other means.

5. Where the larger structure is aimed at co-operation and the entities within the structure share common quality control policies and procedures, it is deemed to be a network. For this purpose, common quality control policies and procedures are those designed, implemented and monitored across the larger structure.

6. Where the larger structure is aimed at co-operation and the entities within the structure share a common business strategy, it is deemed to be a network. Sharing a common business strategy involves an agreement by the entities to achieve common strategic objectives. An entity is not deemed to be a network firm merely because it co-operates with another entity solely to respond jointly to a request for a proposal for the provision.

7. Where the larger structure is aimed at co-operation and the entities within the structure share the use of a common brand name, it is deemed to be a network. A common brand name includes common initials or a common name. A firm is deemed to be using a common brand name if it includes, for example, the common brand name as part of, or along with, its firm name, when a partner of the firm signs an audit report.

8. Even though a firm does not belong to a network and does not use a common brand name as part of its firm name, it may give the appearance that it belongs to a network if it makes reference in its stationery or promotional materials to being a member of an association of firms.

Accordingly, if care is not taken in how a firm describes such memberships, a perception may be created that the firm belongs to a network.

9. Where the larger structure is aimed at co-operation and the entities within the structure share a significant part of professional resources, it is deemed to be a network. Professional resources include:

Common systems that enable firms to exchange information such as client data, billing and time records;
Partners and staff;
Technical departments that consult on technical or industry-specific issues, transactions or events for assurance engagements;
Audit methodology or audit manuals; and
Training courses and facilities.

10. The determination of whether the professional resources shared are significant, and therefore the firms are network firms, shall be made based on the relevant facts and circumstances. Where the shared resources are limited to common audit methodology or audit manuals, with no exchange of personnel or client or market information, it is unlikely that the shared resources would be significant. The same applies to a common training endeavour.

Where, however, the shared resources involve the exchange of people or information, such as where staff are drawn from a shared pool, or a common technical department is created within the larger structure to provide participating firms with technical advice that the firms are required to follow, a reasonable and informed third party is more likely to conclude that the shared resources are significant.

C- Forms of the Network

The different forms of Network can be as under:-

A network can be constituted as a mutual entity which will act as a facilitator for the constituents of the Network. In such a case the Network itself will not carry out any professional practice.
A network can be constituted as a partnership firm subject to the condition that the total number of partners does not exceed twenty.
A network can be constituted as a Limited Liability Partnership subject to the provision of the Chartered Accountant Act and Rules and such other laws as may be applicable.
A network can be constituted as company subject to the guidelines prescribed by Institute for corporate form of practice and formation of management consultancy services company.
Network Firms shall consist of sole Practitioner/proprietor, partnership or any such entity of professional accountants as may be permitted by the Act.
A firm is allowed to join only one network.
Firms having common partners shall join only one Network.

D- Approval of Name of Network amongst firms registered with Institute:

1. The Network may have a distinct name which should be approved by the Institute. To distinguish a “Network” from a “firm” of Chartered Accountants, the words “& Affiliates” shall be used after the name of the network and the words “& Co.” / “& Associates” shall not be used. The prescribed format of application for approval of Name for Network is at Form ‘A’ (enclosed). Illustrative examples of names of Network: -

If the Network is a Mutual Entity or Partnership Firm: AB & Affiliates
If the Network is an LLP: AB Affiliates LLP
If the Network is a Limited Company: AB Affiliates P. Ltd/Limited

2. Provisions of Regulation 190 of the Chartered Accountants Regulations, 1988 shall be applicable to the name of Network. However, even if a name is approved and subsequently it is found that the same is undesirable then, the said name may be withdrawn at any time by the Institute. The Institute shall reject any undesirable name and the provisions in respect of names of companies as prescribed in the Companies Act, 1956 shall be applicable in spirit.

3. The Institute shall approve or reject the name of the Network and intimate the same to the Network at its address mentioned in Form ‘A’ within a period which shall not be later than 30 days from the date of receipt of the said Form.

4. Mere approval of the name of the Network shall not entitle the Network to carry on practice in its own name.

E- Registration of Network with entities in India

After the name of a Network is approved as per provision under Guideline 5, the Institute same shall reserve such name for a period of three (3) months from the date of approval.
The Network shall get itself registered with the Institute by applying in Form B within the period of 3 months, failing which the name assigned shall stand cancelled on the expiry of the said period.
Registration of Network with Institute is mandatory.
If different Indian firms are networked with a common Multinational Accounting Firm, they shall be considered as a part of network.

F- Listing of Network with entities outside India

The duly authorized representative(s) of the Indian Member firm (s)/Member constituting the Network with entities outside India shall file a declaration with the Institute in Form ‘D’ for Listing of such Network within 30 days from the date of entering into the Network arrangement.
Proprietary/individual members, partnership firms as well as members in LLP or any such other entity of members as may be permitted by the Act, shall be permitted to join such network with entities outside India provided that the proprietary/individual members, partnership firms as well as members in LLP or any such other entity of members are allowed to join only one network and firms having common partners shall join only one such network.

G- Change in constitution of registered Network

In case of change in the constitution of registered Network on account of any entry into or exit from the Network, the network shall communicate the same to the Institute by filing Form ‘C’ within a period of thirty (30) days from the date of change in the constitution.

H - Ethical Compliance

Once the relationship of network arises, it will be necessary for such a network to comply with all applicable ethical requirements prescribed by the Institute from time to time in general and the following requirements in particular: -

If one firm of the network is the statutory auditor of an entity then the associate [including the networked firm(s)] or the said firm directly/indirectly shall not accept the internal audit or book-keeping or such other professional assignments which are prohibited for the statutory auditor firm.
The guidelines of ceiling on Non-audit fees is applicable in relation to a Network as follows: i) For a Network firm who is doing statutory audit (including its associate concern and/or firm(s) having common partnership), it shall be the same as mentioned in the said notification; and ii) For other firms of the same Network collectively, it shall be 3 times of the fee payable for carrying out the statutory audit of the same undertaking/company.
In those cases where rotation of firms is prescribed by any regulatory authority, no member firm of the network can accept appointment as an auditor in place of any member firm of the network which is retiring.
The Network may advertise the Network to the extent permitted by the Advertisement Guidelines issued by Institute. The firms constituting the network are permitted to use the words “Network Firms” on their professional stationery.
The constituent member firms of a Network and the Network shall comply with all the Ethical Standards prescribed by the Council from time to time.

I - Consent of Client

The effect of registration of network with Institute will be deemed to be a public notice of the network and therefore consent of client will be deemed to be obtained.

J - Framework of Internal Byelaws of Network

To streamline the networking, a network shall formulate operational bye-laws. Bye-laws may contain the following clauses on which the affiliates of the network may enter into a written agreement among themselves:

(i) Appointment of a Managing Committee, from among the managing partners of the member firms of the network and the terms and conditions under which it should function. The minimum and maximum number of members of the Managing Committee shall also be agreed upon.

(ii) Administration of the network

(iii) Contribution of membership fees to meet the cost of the administration of the network.

(iv) Identifying a partner of any of the member firms of the network to be responsible for the assignment (engagement partner)

(v) Dispute settlement procedures through arbitration and conciliation

(vi) Development of training materials for members of the network

(vii) Issue of News-letters for staff and clients

(viii) Development of softwares for different types of assignments

(ix) Development and maintenance of data bases relevant for different types of assignments

(x) Library

(xi) Appointment of a technical director to whom references can be made

(xii) Determining the methodology for drawing resources from each member firm

(xiii) Determining compensation to member firms for resources to be drawn from them

(xiv) Peer review of the member firms These clauses are illustrative.

K - Repeal and Saving

The erstwhile “Rules/Guidelines of Network” issued by the Institute stands repealed from the date of commencement of these Guidelines.

Provided that notwithstanding such repeal, anything done or any action taken or purported to have been done or taken in respect of the erstwhile Rules/Guidelines prior to the date of applicability of these Guidelines shall be deemed to have been done or taken under the corresponding provisions of these Guidelines.

Edu91 Courses

The online classes for CA Final have finally been launched on Edu91. The students can find CA Final Audit courses on Edu91 and can choose from the available courses as per their attempt and preference. Below are the mentioned courses to choose from -

CA Final Advanced Auditing and Professional Ethics - Android App - Super 70 - May 2021

This Super 70 course for CA Final Advanced Auditing and Professional Ethics for May 2021 began from 15th April, 2020 and completed by 31st December. Students can still enrol in this course for their May 2021 attempt, the videos will be available till the exam date or 31st May, 2021, whichever is earlier.

Where to enrol?

This Super 70 course is available on the Android App which means you can access the course from the convenience of your phone. You just need to download the Edu91 App available on Playstore and enrol.

Syllabus Coverage

Module 1
Chapter 1	Auditing Standards, Statements and Guidance Notes - An Overview
Chapter 2	Audit Planning, Strategy & Execution
Chapter 3	Risk Assessment and Internal Control
Chapter 4	Special Aspects of Auditing in an Automated Environment
Chapter 5	Company Audit
Chapter 6	Audit Reports
Module 2
Chapter 7	Audit Committee and Corporate Governance
Chapter 9	Audit of Banks
Module 3
Chapter 14	Liabilities of Auditor
Chapter 15	Internal Audit, Management and Operational Audit
Chapter 16	Due Diligence & Forensic Audit
Chapter 17	Peer Review and Quality Review
Chapter 18	Professional Ethics
Standards on Auditing
200 Series
SA 200	Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Standards on Auditing
SA 210	Agreeing to the Terms of Audit Engagements
SA 220	Quality Control for an Audit of Financial Statements
SA 230	Audit Documentation
SA 240	The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements
SA 250	Consideration of Laws and Regulations in an Audit of Financial Statements
SA 260	Communication with Those Charged with Governance
SA 265	Communicating Deficiencies in Internal Control to Those Charged With Governance and Management
SA 299	Joint Audit of Financial Statements
300 Series
SA 300	Planning an Audit of Financial Statements
SA 315	Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and its Environment
SA 320	Materiality in Planning and Performing an Audit
SA 330	The Auditor’s Responses to Assessed Risks
400 Series
SA 450	Evaluation of Misstatements identified During the Audit
500 Series
SA 500	Audit Evidence
SA 501	Audit Evidence - Specific Considerations for Selected Items
SA 505	External Confirmations
SA 510	Initial Audit Engagements – Opening Balances
SA 520	Analytical Procedures
SA 530	Audit Sampling
SA 540	Auditing Accounting Estimates, Including Fair Value Accounting Estimates and Related Disclosures
SA 550	Related Parties
SA 560	Subsequent Events
SA 570	Going Concern
SA 580	Written Representations
600 Series
SA 600	Using the Work of Another Auditor
SA 610	Using the Work of Internal Auditors
SA 620	Using the Work of an Auditor’s Expert
700 Series
SA 700	Forming an Opinion and Reporting on Financial Statements
SA 701	Communicating Key Audit Matters in the Independent Auditor’s Report
SA 705	Modifications to the Opinion in the Independent Auditor’s Report
SA 706	Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report
SA 710	Comparative Information – Corresponding Figures and Comparative Financial Statements
SQC 1	Standards on Quality Control

You can find the minimum requirement for the App and other FAQs by clicking here.

CA Final Advanced Auditing and Professional Ethics - Google Drive - May 2021 - Super 70

This course for CA Final Advanced Auditing and Professional Ethics is available on Google Drive and can be accessed through a laptop. The syllabus is already complete and all the videos are available for students. The validity of this course is till the date of exam or 31st May 2021, whichever is earlier.

The syllabus coverage is the same as mentioned above. For the minimum system requirement and other Frequently Asked Questions (FAQs) click here.

CA Final Standards of Auditing for May 2021 | Google Drive

Those students who just want to get a better understanding of the Standards of Auditing or students who just need a revision can enrol for this course. The CA Final Standards of Auditing course contains all the Standards on Auditing.

This is a 30-40 hours course with the validity till the exam date or 31st May 2021, whichever is earlier.

The videos will be available through Google Drive and the notes will be uploaded in the pdf form as well. The videos can be watched only on one laptop with a serial key which will be provided after enrolment.

SAs Covered

Standards on Auditing
200 series
SA 200	Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Standards on Auditing
SA 210	Agreeing to the Terms of Audit Engagements
SA 220	Quality Control for an Audit of Financial Statements
SA 230	Audit Documentation
SA 240	The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements
SA 250	Consideration of Laws and Regulations in an Audit of Financial Statements
SA 260	Communication with Those Charged with Governance
SA 265	Communicating Deficiencies in Internal Control to Those Charged With Governance and Management
SA 299	Joint Audit of Financial Statements
300 Series
SA 300	Planning an Audit of Financial Statements
SA 315	Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and its Environment
SA 320	Materiality in Planning and Performing an Audit
SA 330	The Auditor’s Responses to Assessed Risks
400 Series
SA 450	Evaluation of Misstatements identified During the Audit
500 Series
SA 500	Audit Evidence
SA 501	Audit Evidence - Specific Considerations for Selected Items
SA 505	External Confirmations
SA 510	Initial Audit Engagements – Opening Balances
SA 520	Analytical Procedures
SA 530	Audit Sampling
SA 540	Auditing Accounting Estimates, Including Fair Value Accounting Estimates and Related Disclosures
SA 550	Related Parties
SA 560	Subsequent Events
SA 570	Going Concern
SA 580	Written Representations
600 Series
SA 600	Using the Work of Another Auditor
SA 610	Using the Work of Internal Auditors
SA 620	Using the Work of an Auditor’s Expert
700 Series
SA 700	Forming an Opinion and Reporting on Financial Statements
SA 701	Communicating Key Audit Matters in the Independent Auditor’s Report
SA 705	Modifications to the Opinion in the Independent Auditor’s Report
SA 706	Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report
SA 710	Comparative Information – Corresponding Figures and Comparative Financial Statements
SQC 1	Standards on Quality Control

For more details on the course and system requirements, click here.

CA Final Standards of Auditing for May 2021 | Mobile App

This is a unique course solely focused on Standards of Auditing. It contains all the Standards of Auditing and is available on the Edu91 Mobile App. You can enrol for the course and watch the classes at the convenience of your mobile phone.

The course is available for students giving their May 2021 attempt with the validity till the exam date or 31st May 2021, whichever is earlier.

Students can get more information about the course and other Frequently Asked Questions by clicking here.

CA Final Advanced Auditing and Professional Ethics - Nov 2021 - Android App - Super 70

This is a mobile-only course for CA Final Advanced Auditing and Professional Ethics for the November 2021 attempt. This course is specifically designed keeping the exam in mind.

You will study 13 chapters from 3 modules and 37 Standards on Auditing (SAs).

This course will be completed by 28th February 2021, meaning, new videos will be getting uploaded gradually throughout. The validity of the course is till the exam date or 31st May 2021, whichever is earlier.

The same course is available for students in Google Drive version. You can know more information about the course from here.

CA Final Professional Ethics - May 2021 - Android App

A special course is designed for CA Final Professional Ethics. This is an Android App which will be available till the exam date or 31st May 2021, whichever is earlier. The course can be viewed on your mobile phone and the notes for the same will be provided in pdf format.

This course covers the Professional Ethics part of CA Final Advanced Accounting.

CA Final Professional Ethics - May 2021 - Google Drive

This course is focused on the Professional Ethics part of CA Final Advanced Accounting and is available on Google Drive. This course is valid till the final date of your exam or 31st May 2021 (whichever comes first).

CA Final SA Case Study based MCQs for Nov 2020 & onwards

A special Case Study based MCQs course has been launched on Edu91 for CA Final Advanced Auditing. This course is available from November 2020 onwards.

For students enrolled with Edu91 for CA Final Advanced Auditing this course is available free of charge.

CA Final Advanced Auditing and Professional Ethics - May 2022 - Android App - Super 70

This course for CA Final Advanced Auditing and Professional Ethics is available for students giving their May 2022 attempt.

Syllabus Coverage

The syllabus covers 3 modules with 13 chapters and 37 Standards of Auditing (SAs).

Module 1
Chapter 1	Auditing Standards, Statements and Guidance Notes - An Overview
Chapter 2	Audit Planning, Strategy & Execution
Chapter 3	Risk Assessment and Internal Control
Chapter 4	Special Aspects of Auditing in an Automated Environment
Chapter 5	Company Audit
Chapter 6	Audit Reports
Module 2
Chapter 7	Audit Committee and Corporate Governance
Chapter 9	Audit of Banks
Module 3
Chapter 14	Liabilities of Auditor
Chapter 15	Internal Audit, Management and Operational Audit
Chapter 16	Due Diligence & Forensic Audit
Chapter 17	Peer Review and Quality Review
Chapter 18	Professional Ethics
Standards on Auditing
200 Series
SA 200	Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Standards on Auditing
SA 210	Agreeing to the Terms of Audit Engagements
SA 220	Quality Control for an Audit of Financial Statements
SA 230	Audit Documentation
SA 240	The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements
SA 250	Consideration of Laws and Regulations in an Audit of Financial Statements
SA 260	Communication with Those Charged with Governance
SA 265	Communicating Deficiencies in Internal Control to Those Charged With Governance and Management
SA 299	Joint Audit of Financial Statements
300 Series
SA 300	Planning an Audit of Financial Statements
SA 315	Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and its Environment
SA 320	Materiality in Planning and Performing an Audit
SA 330	The Auditor’s Responses to Assessed Risks
400 Series
SA 450	Evaluation of Misstatements identified During the Audit
500 Series
SA 500	Audit Evidence
SA 501	Audit Evidence - Specific Considerations for Selected Items
SA 505	External Confirmations
SA 510	Initial Audit Engagements – Opening Balances
SA 520	Analytical Procedures
SA 530	Audit Sampling
SA 540	Auditing Accounting Estimates, Including Fair Value Accounting Estimates and Related Disclosures
SA 550	Related Parties
SA 560	Subsequent Events
SA 570	Going Concern
SA 580	Written Representations
600 Series
SA 600	Using the Work of Another Auditor
SA 610	Using the Work of Internal Auditors
SA 620	Using the Work of an Auditor’s Expert
700 Series
SA 700	Forming an Opinion and Reporting on Financial Statements
SA 701	Communicating Key Audit Matters in the Independent Auditor’s Report
SA 705	Modifications to the Opinion in the Independent Auditor’s Report
SA 706	Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report
SA 710	Comparative Information – Corresponding Figures and Comparative Financial Statements
SQC 1	Standards on Quality Control

CA Final Advanced Auditing and Professional Ethics - May 2022 - Google Drive - Super 70

The CA Final Advanced Auditing and Professional Ethics course for May 2022 is available as a Google Drive option. Herein, you can use a laptop to view classes. The validity of the course is till 31st May 2022.

This is a great course for students who are preparing for the May 2022 attempt.

Syllabus Coverage

The CA Final Advanced Auditing and Professional Ethics course contain 13 chapters and 37 Standards on Auditing. This course is specifically designed keeping the ICAI’s study material in mind and will give students an in-depth knowledge of the curriculum along with preparing them for the professional world.

The syllabus coverage is as follows -

Module 1
Chapter 1	Auditing Standards, Statements and Guidance Notes - An Overview
Chapter 2	Audit Planning, Strategy & Execution
Chapter 3	Risk Assessment and Internal Control
Chapter 4	Special Aspects of Auditing in an Automated Environment
Chapter 5	Company Audit
Chapter 6	Audit Reports
Module 2
Chapter 7	Audit Committee and Corporate Governance
Chapter 9	Audit of Banks
Module 3
Chapter 14	Liabilities of Auditor
Chapter 15	Internal Audit, Management and Operational Audit
Chapter 16	Due Diligence & Forensic Audit
Chapter 17	Peer Review and Quality Review
Chapter 18	Professional Ethics
Standards on Auditing
200 Series
SA 200	Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Standards on Auditing
SA 210	Agreeing to the Terms of Audit Engagements
SA 220	Quality Control for an Audit of Financial Statements
SA 230	Audit Documentation
SA 240	The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements
SA 250	Consideration of Laws and Regulations in an Audit of Financial Statements
SA 260	Communication with Those Charged with Governance
SA 265	Communicating Deficiencies in Internal Control to Those Charged With Governance and Management
SA 299	Joint Audit of Financial Statements
300 Series
SA 300	Planning an Audit of Financial Statements
SA 315	Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and its Environment
SA 320	Materiality in Planning and Performing an Audit
SA 330	The Auditor’s Responses to Assessed Risks
400 Series
SA 450	Evaluation of Misstatements identified During the Audit
500 Series
SA 500	Audit Evidence
SA 501	Audit Evidence - Specific Considerations for Selected Items
SA 505	External Confirmations
SA 510	Initial Audit Engagements – Opening Balances
SA 520	Analytical Procedures
SA 530	Audit Sampling
SA 540	Auditing Accounting Estimates, Including Fair Value Accounting Estimates and Related Disclosures
SA 550	Related Parties
SA 560	Subsequent Events
SA 570	Going Concern
SA 580	Written Representations
600 Series
SA 600	Using the Work of Another Auditor
SA 610	Using the Work of Internal Auditors
SA 620	Using the Work of an Auditor’s Expert
700 Series
SA 700	Forming an Opinion and Reporting on Financial Statements
SA 701	Communicating Key Audit Matters in the Independent Auditor’s Report
SA 705	Modifications to the Opinion in the Independent Auditor’s Report
SA 706	Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report
SA 710	Comparative Information – Corresponding Figures and Comparative Financial Statements
SQC 1	Standards on Quality Control

Why Choose Edu91 For Your Final Exams Of Advanced Auditing & Assurance Exam?

So, we told you about the amazing range of courses available at Edu91, but the question is, Why Edu91? The answer is the industry experience available with Edu91 and the quality education provided at an economical cost.

That being said, here are few more reasons why Edu91 is the best option:

1. Three Views

Students get three views of each video. Meaning, if a video is of 20 minutes students will have 20 minutes x 3 views = 60 minutes to watch the video. If a student watched 10 minutes of a video he will be left with 60 minutes - 10 minutes = 50 minutes of the video. The student can watch a video till the minutes become 0.

2. Detailed Conceptual Understanding

The courses are fun, easy to understand and provide detailed conceptual understanding. The course is provided in a mix of English - Hindi language which is engaging and doesn’t make the course overbearing. All the concepts are provided in English.

3. Real-Life Examples

The teaching method includes real-life and industry based examples. The relatable examples provided makes the course easy to understand and helps the concepts to stick for a longer period of time.

4. Audit-Talk Sessions with Industry Experts

Special talk sessions with the Industry Experts are a key feature of CA Final Advanced Auditing and Professional Ethics course provided by Edu91. This helps students to gain a clear idea of how things work in the professional world.

5. Lectures full of edutainment

The CA Final Advanced Auditing course by CA Neeraj Arora is full of Edutainment. Meaning, the lectures are educational and full of entertainment. This technique of education helps the students with a better grasp of the concept of the subject.

6. Multiple Choice Questions in a gamified manner

The students registered for the course get Multiple Choice Questions in a gamified manner. The questions are available in a time-bound quiz format and the result is shown at the end of the test. This also includes an explanation to the answer which helps the students to correct their mistakes.

7. Support till exams

Both doubt and technical support is provided to the students till the exam date. The students can contact support through the website, Telegram or by calling the helpdesk.

8. Watch Anytime, Anywhere

The videos are available at your disposal. You can choose to decide when to watch the classes and where you want to watch them. You don't have to go to a specific place at a specific time to attend your classes. You can watch them at the convenience of your home.

9. Speed options available (upto 2x)

If you think the speed of the video is slow for you, you can put it on up to 2x as per your convenience. With Edu91, you don't have to learn as per the teacher’s speed, you can learn at your own pace.

10. Very Less Internet Required

Edu91’s classes do not require heavy internet usage. You can view the classes with very less internet.

Prize Policy

If these reasons were not enough for you, Edu91 also has a Prize Policy. If you take classes from Edu91 and score good marks, you will be awarded cash awards.

The prize policy as follows -

Score 70 to 74 - Prize Rs.1,100
Score 75 to 79 - Prize Rs.5,100
Score 80 to 85 - Prize Rs.11,000
Score 86 to 90 - Prize - Rs. 21,000
Score 90 Above - Prize - Rs. 51,000
Get a Rank - Prize Rs. 5,100 + Prize as mentioned above

If you still are unsure whether you should go for CA Final Audit classes by CA Neeraj Arora then you can go on YouTube and watch some of the revision videos and see if the teaching method is something you would be comfortable with and the understanding level. Afterall, you are the best judge for yourself.

CA Final Advanced Auditing Videos by CA Neeraj Arora

SA 200 Revision for CA Final by CA Neeraj Arora

SA 210 Revision for CA Final by CA Neeraj Arora

SA 220 Revision for CA Final by CA Neeraj Arora

SA 510 Revision for CA Final by CA Neeraj Arora

Clause 7 Professional Ethics | CA Final

Clause 8 Professional Ethics | CA Final

{{Prakriti Srivastava}}