CA FINAL - ADVANCED AUDITING

CHANGES FROM EDITION 1 TO EDITION 2

Including Amendments
Minutes
SL NO CHAPTER AMENDED TOPICS Req Time
1 COMPANY AUDIT REGISNATION OF AUDITOR [PENALY MAX LIMIT 2,00,000/-] 5

2 AUDIT REPORT CARO 2020, 143(3) NEW SUBCLAUSES ADDED 150

ONE NEW CONCEPT ADDED - NOCLAR, Clause 6 - EDUCATIONAL VIDEOS

4 PROFESSIONAL ETHICS EXAMPLE ADDED 60

7 PEER REVIEW ELIGIBILITY OF PEER REVIEWER CRITERIA CHANGED 15

LEVEL 1 AND LEVEL 2 ENTITIES LIST MODIFIED SLIGHLY 15
PEER REVIEW PROCESS CHANGED W.R.T NUMBER OF DAYS - SHORTENED 30

7 QUALITY REVIEW LAST PRACTICAL QUESTION RELATED ANSWER IS MODIFIED 10

8 AUDIT UNDER FISCAL LAWS HAVE TO WAIT FOR RTP MAY 2022 300

14 BANK AUDIT Q No. 3 - Content Improvised 5

Q No. 6 - Special Aspects in IT Environment - Content Improvised 5
Q No. 7 - Internal Audit Content Changed 10
Q No. 9 - Clearings is Improvised, Constituent Ledger concept is removed 5
Q No. 10 - CRR SLR - DTL COMPUTATION - EXCLUSIONS AND INCLUSIONS LIST
EXAMPLES ARE CHANGED. 5

Q No. 11 and 12 - ICAI material - Content Improvised [Assets and Liabilities ] 120
Q No. 13 - Audit Report - LFAR Content Improvised 10
Q No. 14 - CONCURRENT AUDIT Content Improvised 60

Total Hours Required 13.42

0 FUNDAMENTALS NO CHANGES
3 STANDARDS and GN NO CHANGES
5 CG AND AUDIT COMMITTEE NO CHANGES
6 LIABILITIES OF AUDITOR NO CHANGES
9 IMO AUDIT NO CHANGES
10 DUE DILIGENCE NO CHANGES
11 FRAUD INVESTIGATION NO CHANGES
12 FORENSIC AUDIT NO CHANGES
13 PSU AUDIT NO CHANGES
15 NBFC AUDIT Q NO 12 - CARO 2020 CHANGES - Covered in CARO Already 2 Min
16 INSURANCE AUDIT NO CHANGES
17 AUDIT STRATEGY NO CHANGES
18 RISK ASSESSMENT NO CHANGES
19 AUTOMATED ENVIRONMENT NO CHANGES
AUDIT EVIDENCE AND
20A DOCUMENTATION [SA 500 230 330] NO CHANGES
20B AUDIT SAMPLING [SA 530] NO CHANGES
20C ANALYTICAL PROCEDURES [SA 520] NO CHANGES
21 SCHEDULE III PAPER 1 - FR RELATED
22 AUDIT OF CFS CHANGES
23 AUDIT UNDER GST LAW REMOVED