Complete Audit Revision in Just 12 Days with CA Shubham Keswani

January 16, 2025

Are you a CA Final student stressing about the upcoming Audit exam? Look no further! Conferenza, India's No. 1 website for top-quality CA, CS, and CMA video lectures, has got your back.

Preparing for the CA Final Audit exam in just 12 days requires a focused and efficient strategy. Here's a comprehensive revision plan that ensures you cover all crucial topics and are well-prepared for the exam:

Day 1-2: Master the Basics

Understand the Syllabus: Familiarize yourself with the ICAI syllabus and the weightage of different chapters.
Study Material: Go through the ICAI Study Material for Audit, making sure to focus on key concepts like audit planning, audit evidence, audit risk, and audit procedures.
Revise Basics: Start by revising the fundamentals of auditing, including audit concepts, audit types, and audit procedures. These are foundational for more complex topics.

Day 3-4: Focus on Key Topics

Audit Planning & Risk Assessment: Focus on the chapters on audit planning, risk assessment, and internal control. These areas are frequently tested in the exam.
Audit Evidence: Revise the concepts of audit evidence, audit procedures, and sampling techniques.
Company Audit: Study the key provisions and procedures related to company audits, including statutory auditor’s duties, reporting requirements, and audit of financial statements.

Day 5-6: Detailed Revision of Specific Areas

Special Audits: Dedicate a day to revising the special audits, such as the audit of banking companies, insurance companies, tax audit, and cost audit.
Audit Reports: Revise various types of audit reports, such as unmodified opinion, modified opinion, and emphasis of matter, and focus on the format and scenarios when each is issued.

Day 7-8: Revise Laws and Standards

Auditing Standards: Go through the standards on auditing (SAs). Focus on the important ones such as SA 300 (Planning the audit of financial statements), SA 500 (Audit Evidence), and SA 700 (Forming an Opinion and Reporting on Financial Statements).
Ethics and Governance: Review ethics, professional conduct, and auditor’s liability. These concepts are important and often form the theoretical part of the exam.

Day 9-10: Case Studies and Practical Questions

Mock Test Papers: Solve mock test papers and past year papers. Focus on answering case studies and practical problems that test your application of audit concepts.
Case Studies: CA Final Audit exams often contain case studies that require critical thinking. Practice solving them to enhance your application skills.

Day 11: Focus on Practical Areas

Important Practical Topics: Revise areas like the audit of various entities (corporates, banks, government companies) and the audit of financial statements.
Audit Documentation and Working Papers: Ensure you are comfortable with audit documentation and the preparation of working papers.

Day 12: Final Revision and Time Management

Quick Revision Notes: Go through your revision notes or short notes created throughout the last 11 days. Revisit any weak areas and important chapters.
Mock Exam: Take a full-length mock exam under real exam conditions to improve time management and test your readiness.
Final Touch: Before the exam, do a quick review of key areas—audit reports, audit evidence, company audit, and special audits.

General Tips for the 12-Day Revision:

Time Management: Allocate sufficient time for each Chapter and avoid distractions. Stick to your study plan.
Active Recall: Instead of simply reading, try to actively recall concepts and explain them as if you are teaching someone else.
Practice Writing: Since CA exams test your ability to present knowledge, practice writing answers to ensure you can effectively communicate your thoughts in the exam.
Rest & Relax: Get proper rest and take short breaks. Mental clarity and focus are key to successful revision.

Remember, the key to success in the CA Final Audit exam is consistent, focused preparation. With the guidance of CA Shubham Keswani and the resources available on Conferenza, you'll be well on your way to scoring 70+ and acing the Audit paper. So, what are you waiting for? Enroll in the Conferenza 12-day Audit Revision course today and take the first step towards your CA Journey