Which of this is correct about non compliances (nc) reporting to authorities ?
Anonymous Quiz
7%
SA 250 - NC should reported only if required by law
19%
NOCLAR - if there is imminent breach with major harmful impact then report unless prohibited by law
41%
Both are correct
9%
Both are incorrect
5%
No non compliance should be reported in any circumstances
18%
All non compliances should be reported
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For Inter & Final Both— Audit Risk was decreased from 10% to 3% . Inherent Risk and Controls Risk remain unchanged at 60% and 40% respectively. What is percentage change in acceptable detection risk ?
Anonymous Quiz
12%
41.67 %
15%
20.83%
26%
12.5%
12%
1.25%
20%
29.17%
15%
None of them
Whether explicit statement is required in audit report as per SA 620 that there is no reduction in responsibility of auditor even when reference is given to expert’s report ?
Anonymous Quiz
36%
It is understood principle no need to specify it explicitly.
64%
Explicit statement is required in audit report.
For CA Final Audit Risk based audit approach is applicable to
Anonymous Quiz
16%
Financial Audit
10%
Internal Audit
7%
Performance Audit
4%
Review Engagements
2%
Certification work
42%
Applicable to all attest functions as covered above
19%
Only Audits
1%
None of them
For CA Inter and Final Both — Which of the following will not affect Risk of Material Misstatement?
Anonymous Quiz
11%
Large slowing moving inventory
6%
Complicated employee bonus calculations
13%
Accounting Software not updated for past 2 years
6%
High attrition in accounting department
24%
High attrition in audit team
13%
None of them
26%
All of them
For CA Final and Inter - Which of the following makes control environment strong ? Consider all elements of internal control system. (Guys these are difficult ones, don't expect this level in exams)
Anonymous Quiz
21%
Risk Management Committee of Company
34%
Segregation of Duty
10%
Appointing Expert for Cyber Security Evaluation
15%
Monthly seminars on ethical values, rewards and punishments
20%
Clearly defined roles and responsibilities of accounting teamBroadcast
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For CA Final
Flowchart should include list of questions which are answered by studying that flowchart as per Ch 4 ?
Flowchart should include list of questions which are answered by studying that flowchart as per Ch 4 ?
Anonymous Quiz
29%
No, don't mix different techniques unnecessarily.
71%
Yes it's good thing it acts are guidance to persons referringflowchart.
AuditGuru | CA Ravi Taori | AIR
For CA Final
Flowchart should include list of questions which are answered by studying that flowchart as per Ch 4 ?
Flowchart should include list of questions which are answered by studying that flowchart as per Ch 4 ?
Every good thing if consumed in excess becomes poison. Food, water, vitamins, sleep, studies, mobile phone, internet, ott, videos, GF, BF etc. So set some limits time wise or feel wise after which you need to take break from it.
So regularly have no food (fasting) no mobile & internet (e-fasting) etc. Further on daily basis just keep them out of sight and out of reach to reduce, control your consumption.
Balance of things will make life peaceful yet moving at crushing speed.
RT
So regularly have no food (fasting) no mobile & internet (e-fasting) etc. Further on daily basis just keep them out of sight and out of reach to reduce, control your consumption.
Balance of things will make life peaceful yet moving at crushing speed.
RT
You may feel you have not studied enough, you may feel you are slow, you may feel lost but just look back day you started.
You were not able to sit for 2 hours, you didn’t knew basic concepts, you didn’t knew coverage, you were slow in solving problems , complex problems were overhead.
But today you can sit for many hours at stretch to study, you have reached some schedule, you know have knowledge of many complicated concepts and problems. You have better concentration. You have improved a lot.
Improvement can’t be noticed by you yourself because you change little bit every day so you don’t feel but it can be felt when you see starting point and today where you are.
Show gratitude be happy for your wins, positive state mind matters. Happy mind is best for studies.
Good state mind can help you cover 100 pages in a day and bad state of mind may not let you cover 1 page. State of mind and positive feel matters.
RT
You were not able to sit for 2 hours, you didn’t knew basic concepts, you didn’t knew coverage, you were slow in solving problems , complex problems were overhead.
But today you can sit for many hours at stretch to study, you have reached some schedule, you know have knowledge of many complicated concepts and problems. You have better concentration. You have improved a lot.
Improvement can’t be noticed by you yourself because you change little bit every day so you don’t feel but it can be felt when you see starting point and today where you are.
Show gratitude be happy for your wins, positive state mind matters. Happy mind is best for studies.
Good state mind can help you cover 100 pages in a day and bad state of mind may not let you cover 1 page. State of mind and positive feel matters.
RT
For CA Final
Significant Deficiency should be communicated to TCWG in listed companies before ?
Significant Deficiency should be communicated to TCWG in listed companies before ?
Anonymous Quiz
8%
Balance Sheet Date
26%
Date of Approval of FST
9%
Date of Signing FST
40%
Date of Singing Audit Report
4%
Date of Publishing FST
12%
Date of Assembly of Audit File
For CA Final
Significant Deficiency should be communicated to TCWG in unlisted companies before ?
Significant Deficiency should be communicated to TCWG in unlisted companies before ?
Anonymous Quiz
8%
Balance Sheet Date
27%
Date of Approval of FST
10%
Date of Signing FST
38%
Date of Singing Audit Report
3%
Date of Publishing FST
15%
Date of Assembly of Audit File
Guaranteed Success Formula For CA Inter and Final Audit For May 25 Exams and Later
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For Both Final and Inter
Auditor identified no RMM in land 50 crores and controls are strong and operating effectively. No change with respect to last year. Auditor was same. Auditor response SA 330
Auditor identified no RMM in land 50 crores and controls are strong and operating effectively. No change with respect to last year. Auditor was same. Auditor response SA 330
Anonymous Quiz
9%
No need to do anything as there is no risk and controls are strong
59%
Some Substantive audit procedures are required, Like analytical procedures or TOD should be there.
20%
Mandatory attendance of physical verification is required.
13%
Just refer documents from previous year’s audit file.
For Both CA Inter and Final
In which of the following areas substantive procedures alone cannot provide sufficient and appropriate evidence as per SA 330 ?
In which of the following areas substantive procedures alone cannot provide sufficient and appropriate evidence as per SA 330 ?
Anonymous Quiz
36%
Traditional sole proprietor run retail grocery shop.
16%
Petrol Pumps Operation
43%
IRCTC Ticket Booking
6%
Gym Operations
CA Final Audit Rapid Revision Ch 04 Part 2 will be done tomorrow at 1:30 PM we will cover whole chapter.