i have studied nbfc of FR paper. which has master directions 2016. do we have to read the same in audit. apart from master directions what else regulations we have to study. please guide sir. cant understand from study mat.
knowledge from studying content in FR will be useful. but we will have to focus on content in audit module and pm. lot of content in audit is different, so it is advisable to go through that.
for example both jan 16 and jan 17 edition contains nbfc audit report 2008, so the same as applicable for exams.