CA Final Audit, Syllabus, Exam Pattern, Sample Papers
Prepare for the CA Final Audit May 2024 exam with comprehensive study materials, including syllabus, previous year papers, and exam format. Access CA Final Advanced Auditing study materials.
Mridula Sharma23 Jan, 2024
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CA Final Audit May 2024: The CA Final Course marks the concluding stage of the CA journey, with candidates becoming eligible for CA final examinations after completing 2.5 years of articleship.
These exams occur twice a year, in May and November, encompassing eight papers divided into two sections. Among these, the Advanced Auditing and Professional Ethics paper, commonly known as the Auditing paper, is part of the First Group. For the CA Final May 2024 exam, the Auditing Paper is scheduled for May 5, 2024 (tentatively). This article provides comprehensive study materials for the CA Final Audit Exam, including the syllabus, previous year papers, a question bank, a practice manual, and the exam format for the May 2024 exams.CA Final Audit May 2024
The CA's main responsibility is auditing, a crucial aspect of the entire CA course. This involves thoroughly reviewing financial statements, checking entries, and identifying any inconsistencies. In India, CAs meticulously audit transactional documents, create financial reports, and validate them with their signature, ensuring the data's authenticity. The CA Final Course marks the conclusion of the CA journey in India. After completing 2.5 years of articleship, students become eligible for CA final exams , held twice a year in May and November. The CA final level comprises six papers, grouped into two. Paper 3, also known as Auditing Paper, falls under the First group and covers Advanced Auditing, Assurance, and Professional Ethics. The exact exam date for CA Final Audit May 2024 is yet to be released by ICAI.CA Final Audit Exam Pattern May 2024
Exam Overview:
The exam consists of 30 multiple-choice questions (MCQ) and 6 subjective questions, of which 5 must be answered. The total duration of the exam is 3 hours, with a maximum score of 100 marks - 30 for MCQs and 70 for subjective questions.Assessment Criteria:
The Institute of Chartered Accountants of India (ICAI) evaluates each question based on comprehensive knowledge, analytical skills, and reporting efficiency. Each question is divided into 3 or 4 sections that need to be addressed and solved.Success Tips:
To secure higher marks, it is crucial for students to adhere to the prescribed answer pattern. Deviating from the recommended approach can result in lower marks and exam failure.| CA Final Exam Pattern May 2024 | |
| CA Final | Details |
| Mode of exam | Pen paper-based exam |
| Medium of exam | Hindi and English |
| Duration of exam | 3 hours for each paper |
| Total number of groups | 2 |
| Types of questions | Subjective and Objective |
| Exam conducting body | ICAI |
| Total number of papers | 8 as per both the old and new syllabus |
| Frequency | 2 times (May and November) |
| Marking scheme | 100 marks for each paper |
| Negative marking | No negative marking for wrong answers |
CA Final Advanced Accounting & Professional Ethics Weightage: Chapter-Wise (2024)
The ICAI has given importance to certain chapters by considering their practical relevance and difficulty levels. To excel in exams, students should organize their CA Final Study Plan according to the weightage assigned to each topic, dividing their focus among chapters accordingly.| CA Final Advanced Accounting & Professional Ethics Weightage: Chapter-Wise (2024) | ||
| Chapters | Topics | Weightage |
| Chapter 1-4,6 | Chapter 1: Auditing Standards, Statements and Guidance Notes – An Overview Chapter-2: Audit Planning, Strategy and Execution Chapter 3: Risk Assessment and Internal Control Chapter 4: Special Aspects of Auditing in an Automated Environment Chapter 6: Audit Reports | 25%-40% |
| Chapter 5, 7, 8,14 | Chapter 5: Company Audit Annexure: Schedule III to The Companies Act, 2013 Chapter 7: Audit Committee and Corporate Governance Chapter 8: Audit of Consolidated Financial Statements Chapter 14: Liabilities of Auditor | 15%-20% |
| Chapter 9,10, 11,12 | Chapter 9: Audit of Banks Chapter 10: Audit of Insurance Company Chapter 11: Audit of Non-Banking Financial Companies Chapter 12: Audit under Fiscal Laws | 15%-30% |
| Chapter 13, 14, 15, 16, 17 | Chapter 13: Audit of Public Sector Undertakings Chapter 14: Liabilities of Auditor Chapter 15: Internal Audit, Management and Operational Audit Chapter 16: Due Diligence, Investigation and Forensic Audit Unit 1: Due Diligence Unit 2: Investigation Unit 3: Forensic Audit Chapter 17: Peer Review and Quality Review Unit 1: Peer Review Unit 2: Quality Review | 10%-20% |
| Chapter 18 | Professional Ethics | 10%-15% |
CA Final Advanced Auditing Study Material 2024
The Institute of Chartered Accountants of India offers CA Final study materials for all subjects. The provided link gives access to comprehensive content covering all the chapters in the syllabus. Specifically, for paper 3 on Auditing in CA Final, you can easily download and utilize the study materials during your exam preparation. Make the most of these resources to enhance your understanding and readiness for the CA Final exams.| CA Final Audit Study Material 2024 | |
| Particulars | Download Link |
| Module -1 | |
| Initial Pages | Click Here |
| Chapter 1: Auditing Standards, Statements, and Guidance Notes – An Overview | Click Here |
| Chapter-2: Audit Planning, Strategy, and Execution | Click Here |
| Chapter 3: Risk Assessment and Internal Control | Click Here |
| Chapter 4: Special Aspects of Auditing in an Automated Environment | Click Here |
| Chapter 5: Company Audit | Click Here |
| Annexure: Schedule III to The Companies Act, 2013 | Click Here |
| Chapter 6: Audit Reports | Click Here |
| Module -2 | |
| Initial Pages | Click Here |
| Chapter 7: Audit Committee and Corporate Governance | Click Here |
| Chapter 8: Audit of Consolidated Financial Statements | Click Here |
| Chapter 9: Audit of Banks | Click Here |
| Chapter 10: Audit of Insurance Company | Click Here |
| Chapter 11: Audit of Non-Banking Financial Companies | Click Here |
| Chapter 12: Audit under Fiscal Laws | Click Here |
| Module -3 | |
| Initial Pages | Click Here |
| Chapter 13: Audit of Public Sector Undertakings | Click Here |
| Chapter 14: Liabilities of Auditor | Click Here |
| Chapter 15: Internal Audit, Management and Operational Audit | Click Here |
| Chapter 16: Due Diligence, Investigation and Forensic Audit Unit 1: Due Diligence Unit 2: Investigation Unit 3: Forensic Audit | Click Here For Unit 1 Click Here For Unit 2 Click Here For Unit 3 |
| Chapter 17: Peer Review and Quality Review Unit 1: Peer Review Unit 2: Quality Review | Click Here For Unit 1 Click Here For Unit 2 |
| Chapter 18: Professional Ethics | Click Here |
| Related Links: | |
| CA Final Exam Form 2024 | CA Final Exam Date 2024 |
| CA Final Eligibility Criteria 2024 | CA Final Exam Pattern 2024 |
| CA Final Syllabus 2024 | CA Final Registration 2024 |
CA Final Audit May 2024 FAQs
When is the CA Final Audit May 2024 exam scheduled?
The exact date is yet to be released by ICAI, but tentatively set for May 5, 2024.
What is the structure of the CA Final Audit May 2024 exam?
The exam comprises 30 MCQs and 6 subjective questions, with a total duration of 3 hours.
What is the significance of the Advanced Auditing and Professional Ethics paper?
It is a crucial part of the First Group in the CA Final Course, emphasizing auditing, assurance, and ethics.
How is the CA Final Audit Exam May 2024 evaluated?
ICAI assesses each question based on comprehensive knowledge, analytical skills, and reporting efficiency.
What are the recommended success tips for the CA Final Audit Exam?
Adhering to the prescribed answer pattern is crucial to secure higher marks; deviation may lead to lower scores and exam failure.
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