SA 240
Audit is risk-based: more risk, more effort. SA 240 Para 26 tells you to presume risk in revenue recognition, and that presumption shapes how you plan the whole audit.
23
Jan
Blog
23
Jan
SA 260 Explained: Communication With Those Charged With Governance
SA 260 in audit, explained simply – who TCWG actually are, the four categories that must be communicated, and what happens when those charged with governance and management are the same people.
23
Jan
Out of the box Audit Paper CA final Nov 16
Only 37 of 116 marks came from the Practice Manual and past papers, nothing from the RTP, and the Professional Ethics case study shrank to 4 marks. A mark-by-mark analysis.
23
Jan
Update on CARO
A private company that is a subsidiary of a public company is deemed public – but MCA has clarified that a subsidiary of a foreign holding company keeps its private status.
23
Jan
SA 330 Explained: The Auditor’s Responses to Assessed Risks
SA 330 in audit, explained simply – overall responses, tests of controls and the once-in-three-years rule, why substantive procedures can never be skipped, and the significant-risk exception.
23
Jan
SA 230
Para A11 of SA 230 makes the completion memorandum optional, not compulsory. Why it is still worth preparing in large and complex audits, and what it should record.
23
Jan
Independent Auditor Report
From FY 15-16, audit reports carry a separate Report on Internal Financial Controls. The eight key components required by the Guidance Note on IFC.
23
Jan
How to complete 100% AUDIT paper in 3 hours??
Finish your CA Audit paper in three hours without rushing. CA Ravi Taori on question selection, time allocation per mark, and the writing habits that actually save minutes.
23
Jan
Dark Secrets of Big 4s
Written by a former Big 4 article. They employ around 1,60,000 CAs and set the standard for quality and methodology – but some uncomfortable facts deserve an honest look.
23
Jan
Can a CA in Practice Do Business? The Rules, the HUF Route and What ICAI Actually Allows
Can a Chartered Accountant in practice run a business? The Clause 11 position, the difference between general and specific permission, and whether the HUF route works – with the ICAI disciplinary decisions that settled it.