Top 3 Videos on Audit of Items of Financial Statements for CA Intermediate Auditing and Ethics by PW

Audit of Items of Financial Statements requires you to understand how different financial statement items are verified and what audit procedures apply to each. You may find it difficult to distinguish between assertions such as existence, completeness, valuation and rights and obligations. Applying the correct procedures to inventory, share capital, trade receivables, expenses and other items can also be challenging during examinations.

PW offers 3 video sessions to help you study this chapter through detailed explanations, assertion-based learning, practical examples, charts, memory techniques and examination-oriented questions. These lessons help you understand the connection between financial statement items, audit evidence and verification procedures.

Before starting, refer to the CA Intermediate Auditing and Ethics syllabus to check the chapter structure and organise your preparation according to your examination attempt.

Video 1: Start Fast-Track Learning With a Clear Chapter Study Map

This Fastrack Batch lesson introduces the chapter through three major areas: assertions, balance sheet captions and income statement or profit and loss captions. It connects classes of transactions, account balances, presentation and disclosure with external confirmation and audit procedures.

The session also discusses management representation, audit programmes and sufficient appropriate audit evidence. It highlights the importance of accounting knowledge, auditing standards and legal provisions while studying the chapter.

Choose this lesson if you want to organise the chapter before detailed study. Prepare short notes while watching and connect each assertion with the relevant audit procedure. You can also refer to CA Intermediate Auditing and Ethics notes by PW to revise related concepts and important audit terminology.

Video 2: Strengthen Item-Wise Revision With Examination-Focused Coverage

This CA Intermediate Auditing and Ethics revision session combines Chapter 5 with a brief overview of another chapter. Its Chapter 5 coverage includes financial statement assertions and audit procedures for share capital, non-current liabilities, trade receivables, inventory, property, plant and equipment, sales and other income, employee benefits and expenses.

The session also uses examination weightage and chapter-wise revision to help you plan your preparation and connect item-specific audit checks with answer writing.

Watch this video when you are approaching your examination and need to revise multiple financial statement items together. Focus on the audit procedures and the reasons behind each verification step. You can also review the CA Inter Auditing and Ethics 2026-27 preparation guide to understand the subject structure and plan your remaining revision.

Video 3: Revise Financial Statement Items Through Wide Topic Coverage

This revision session provides broad coverage of Audit of Items of Financial Statements, beginning with assertions and moving to different balance sheet and income statement items.

Important areas include inventory valuation, verification and consignment audit, share capital, provisions and contingent liabilities, bank borrowings, trade receivables, ageing, controls and valuation, cash, bank reconciliation statement audit, property, plant and equipment, capital work-in-progress, intangible assets, loans and advances, trade payables and MSME matters.

The lesson also covers revenue, employee costs, depreciation, expenses, and tax and subsidy audits.

Use this session after completing the chapter or before your final mock test. Its extensive topic coverage helps you revisit different audit procedures and identify areas that need additional practice. Pay attention to verification, valuation, internal controls and disclosure requirements.

How to Use These Videos for CA Intermediate Auditing and Ethics Preparation

Each video supports a different stage of your preparation. Follow this sequence to understand the chapter and practise its examination applications:

• For concept building: Start with the full-coverage lecture to understand management assertions, transaction assertions and account-balance assertions.

• For visual revision: Use the chart-based session to remember different assertions and their applications.

• For fast-track learning: Watch the Fastrack lesson to organise balance sheet and income statement items into separate study areas.

• For item-wise practice: Revise the audit procedures for share capital, inventory, receivables, liabilities, expenses and other financial statement items.

• For final preparation: Use the revision marathon to revisit important topics and practise writing structured answers.

Audit of Items of Financial Statements requires a clear understanding of management assertions, audit evidence and verification procedures for different financial statement items. These 3 PW videos help you prepare the chapter through detailed lessons, chart-based explanations, practical questions and comprehensive revision.

Start with concept learning, move to assertion-based and item-wise practice, and use the revision sessions before your examination. Regular question-solving and revision of important audit procedures can help you improve answer accuracy and prepare more effectively for CA Intermediate Auditing and Ethics.