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Detailed explanation of each & every topic of AUDIT for better understanding

Questions › Author "shubham_mangal"
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Proposed Dividend : Clarification is released wrt proposed Dividend to show in notes to accounts which was applicable for may 17.
Shubham MangalShubham asked 7 years ago • 
1589 views1 answers0 votes
Little ambiguity : we have to write language as per bare acts rules and standards or we can use our own language.
Shubham MangalShubham asked 7 years ago • 
1273 views1 answers0 votes
Continuous Audit : In the definition of the continuous audit, what is this statement mean? “When for this purpose the staff attends at intervals, fixed or otherwise, during the currency of financial period.” What is the difference between the concurrent audit and continuous audit?
Shubham MangalShubham asked 7 years ago
1806 views2 answers1 votes
CA IPCC PM CH 1 Q 27 : THEREIN THE ANSWER DEFINITION OF AUDIT IS MENTIONED, WHAT WE SHOULD WRITE DEFINITION OR OBJECTIVES OF AUDIT?
Shubham MangalShubham asked 7 years ago
1137 views1 answers0 votes
Fair presentation frf : In fair presentation frf, I am unable to understand the statement “acknowledges explicitly or implicitly that to achieve fair presentation of the financial statement it may be necessary for management to provide disclosure beyond on the specifically required by framework
Shubham MangalShubham asked 7 years ago • 
1301 views1 answers0 votes
The statement is not clear : An engagement team also include a member using expertise in a specialised area of accounting and auditing whether engaged or employed by the firm if any who performs audit procedures on the engagement Assignment of engagement teams
Shubham MangalShubham asked 7 years ago • 
1405 views1 answers0 votes
Ch 2 Q 11 IPCC PM: Under the examples of high uncertainty and low uncertainty there are only two examples written and the practice manual we have to write all of them are only two as written in p.m.
Shubham MangalShubham asked 7 years ago • 
1260 views1 answers0 votes
What to do: Sir in class you have said to include inquiry part in our answer when there is specifically asked about inquiries wrt subsequent events but ICAI has included it in every answer. For evidential, you can check Q 22 of Ch 1 and Q8c of Ch6 in CA IPCC Practice Manual 🙁
Shubham MangalShubham asked 7 years ago • 
1239 views1 answers0 votes
The statement is not clear:Indicators of non compliance: Existence of an information system which fails whether by design or by accident to provide an adequate audit trail or sufficient evidence
Shubham MangalShubham asked 7 years ago • 
1104 views1 answers0 votes
The statement is not clear: Point 11 last line pg 2 above matters to be communicated to TCWG? The auditor shall nonetheless be satisfied that communication with the person(s) with management responsibilities adequately informs all of those with whom the auditor would otherwise communicate in their governance capacity.
Shubham MangalShubham asked 7 years ago • 
1158 views1 answers0 votes
Q21 ch 2 pg 2.25 CA IPCC pm: n this they have included SA 200 and SA 330 PART. is it necessary to include those while attempting
Shubham MangalShubham asked 7 years ago • 
1363 views2 answers0 votes
Q47xi CA IPCC PM: In the answer nothing. Is written about CA practicing in India within the definition under CA Act 1949. Weird answers. Creating confusion in mind that to study in our own way or to mug up PM.
Shubham MangalShubham asked 7 years ago • 
1654 views4 answers0 votes
q22 c chapter 1: sir, we have to include 1st para in our answer or not. I think it is irrelevant or not purposeful.
Shubham MangalShubham asked 7 years ago • 
1187 views1 answers0 votes
Some questions: In casting totalling there are frauds which can b detected by performing casting. It is specified. InQ 24 Pg 1.30 in defalcation of cash (i) (4). It is not clear to me. InQ22 c Pg 1.26 in first para nothing is mentioned about the relationship with behavioral sciences. We have to include it or not. Q4pg 1.7 Statebriefly about audit procedures and audit techniques.In this question I am little confused that in audit procedures inquiry is included and in audit techniques also there is included. same is with casting etc.In this question first ICAI said how to do audit. Role of audit procedures in having audit.Very confusing situation. Please support Ravi Sir.
Shubham MangalShubham asked 7 years ago • 
2141 views5 answers0 votes
Intro to SA: In Q17 of Chapter 1 of CA IPC PRACTICE MANUAL In point iv there is a sentence that \”engagement involving application of agreed upon procedures to information\” what is this mean?
Shubham MangalShubham asked 7 years ago • 
1028 views1 answers0 votes
Q6 of Chapter 1 of CA IPCC PRACTICE MANUAL: How to remember date of applicability. And herein old std applicability date is mentioned. What r applicability date of SAs
Shubham MangalShubham asked 7 years ago • 
1010 views1 answers0 votes
Audit vs Investigation: In Q 12 of Chapter 1 of CA IPCC Practice Manual, the language of the answer written therein is not understandible to me. Can I use the tabular format in answering such question as you have presented their in your study material
Shubham MangalShubham asked 7 years ago • 
1502 views3 answers0 votes
Q46 c IPCC PM:Can we include procedure of appointment of subsequent Auditor in case of Other than govt Company.v
Shubham MangalShubham asked 7 years ago • 
978 views1 answers0 votes
Include or not: In Q 18 of CA IPC PM can we include some content of procedures to be applied under SA 600?
Shubham MangalShubham asked 7 years ago • 
959 views1 answers0 votes
Q 29 a IPCC PM: What is attest function? What is Preface to SAs?
Shubham MangalShubham asked 7 years ago • 
960 views1 answers0 votes
Q12 c IPCC PM: In the answer MSMED SMALL AND MICRO INDUSTRIES . this point is not included.
Shubham MangalShubham asked 7 years ago • 
1022 views1 answers0 votes
q19 a CA IPCC PM pg 1.23 : if this ques seen for 6 marks in exams than we have to write about significant difficulties that auditor faced during the audit or the answer given in practice manual is sufficient in that case also.
Shubham MangalShubham asked 7 years ago • 
1140 views1 answers0 votes
Q 26 Ch 3 PM IPCC : Account Balance level audit risk and transaction level audit risk 🙁
Shubham MangalShubham asked 7 years ago • 
1331 views1 answers0 votes
Confusion in SA 299 : Shubham asked October 3, 2017 it is a confusion that in all questions of SA 299 in practice manual duties of joint auditors are written in answers written by ICAI. In Ch 2 Q19 pg 2.22 the question is asked only about reporting responsibilities of joint auditors wrt disagreement of opinion between them. But ICAI has included whole duties and reporting responsibilities part of the standard. only the introduction and advantages and disadvantages are left. What to do in such situations. and in q 27 ch 7 the specific responsibilities of joint auditors is explained in two-three lines only whereas in some ques ICAI has included whole part of SA. What to do little confused…. 🙁
Shubham MangalShubham asked 7 years ago • 
1712 views1 answers0 votes
point d : you have given eg of debtors and provision for doubtful debts are netted and shown at one place. but Schedule 3 of Companies Act 2013 mentions that “Allowance for bad and doubtful debts shall be disclosed under the relevant heads separately.” What to do :[ attributes of acceptable frf
Shubham MangalShubham asked 7 years ago • 
1342 views1 answers0 votes
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