CA IPCC Auditing Important Questions, Topics for May 2018 are provided here. To get 50+ pass marks in IPCC Auditing Exam, You can prepare given important topics.

CA IPCC Auditing & Assurance Important Questions, Topics & Chapters

Chapterwise Auditing Important Topics

1. Start with company Audit I & II friends…. this both chapter cover around 30 marks. As this cover 30 marks so read each and every topic in it.
2. Special Audits – Club Audit, Educational Institution, Hotel, Cinema Hall, Advantages of audit of accounts of partnership firm.
3. Verification : Cash, Depreciation, Contingent liability, Subsequent Events ( SA 560 ) , Cut-off Procedures, Personal Exp. of Directors & Analytical Review ( SA 500 ). Do this chapter and vouching in last. Best book for doing this is Practice Manual.

4. Internal Control – Audit Risk, Audit Trail, EDP Auditing Approach n other related topic to EDP.

1. Preparation of Audit – Audit Techniques, Audit Programme, Audit Sampling ( SA 530 ), Continuous Audit, Letter of Engagement, Management Representation.

Click Here to Download CA IPCC Auditing Standards Notes in Single Page

1. Chapter 1 & 2 – Audit Evidence & Methods of obtaining it, Compliance & Substantive Procedures, Going Concern Assumption, Joint Auditors ( SA 299 ), Principles governing audit, SA 200, Types of Error ( Specially Commission & Casting ), Operational Audit, Detection of Fraud & errors, Audit Engagement Letter, Inherent limitations of Audit.

1. Intro of Audit (with relevant SAs relating to those chapters)
2. Basic concept of Audit (with relevant SAs relating to this chap)
3. Company audit
4. CARO related provisions
5. Special audit

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Overall Important Topics

1. Qualifications and Disqualifications of an auditor.
2. Appointment of auditors (all cases)
3. Casual vacancy of an auditor to be filled up
4. Removal of auditors
5. Remuneration of auditors
6. Duties of the auditor
7. Discuss about cost Audit.
8. Provisions relating to Branch Audit.
9. Vouching and verification 8m (refer class notes)
10. Inherent limitations of audit
11. CAR0, 2003 4m (refer to summary)
12. Qualities of an auditor
13. Types of Reserves AND Objects of creating each.
14. Appointment of auditor of Government Company.
15. SA 580
16. SA 530
17. SA 560
18. SA 700, 705, 706
19. Types of Audit Report/ Audit Opinion
20. Concept of Materiality & SA 320
21. Audit of hire purchase transactions.
22. Aspects to be covered in an audit
23. Write about local bodies.
24. Audit of Hotels.
25. Design and Special Characteristics of EDP Systems.
26. CAAT requirement in EDP audit.
27. Audit of Charitable institutions.
28. Audit of Incomplete records.
29. Audit of Cinema Theater.
30. Letter of weakness. 1
31. Audit Trail or Examination In Depth
32. Write about analytical review test.
33. Methods to obtain Audit Evidence.
34. Capital Expenditures and its types.
35. Audit procedures to obtain Audit Evidence
36. Basic elements of Auditor’s report.
37. Audit of commercial accounts.
38. Controls in an EDP environment.
39. Matters to be verified in the audit of dividend.
40. Prior period items, Extra-ordinary items.
41. SA 200, 210, 220, 240.
42. Audit evidence and what is the need of it.
43. Revenue expenditure.
44. Approaches to auditing in a computerized environment.
45. Audit of a Hospital.
46. Audit of Stores and stocks.
47. Audit of issue of share capital.
48. Powers and duties of C&AG.
49. AS 1
50. AS 6

Exam tips:

• Write answer point wise.
• Also use the practical knowledge while writing answers of auditing as it shows your understanding of subject.

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