Audit POWER Charts By CA.

Sarthak Jain

AUDIT POWER - CA. SARTHAK JAIN - FOR NOV 2022

Topic Wise ABC (Based on Past Exams and ICAI Mat.)

STANDARDS ON AUDITING
Download useful notes from www.fast.edu.in - Download section or FAST Education App at Playstore

Important Topics Based on PE / RTP / MTP / SM

SA Suggested other Imp Topics
of CA Final Audit - New Course
Independence Objectives of Auditor
200 Limitation Compliance with SAs
Professional Skepticism
Pre-conditions
Limitation Imposed prior to audit
Content of EL
210 Recurring Audit EL
Component Auditor - Fresh EL
Changes in Eng. Terms
Factors Affecting Audit Acceptance Retention of WP
Sources to check Integrity of Client Human Resource Policy under SQC1
SQC 1 and Engagement Partner Review Quality Control at Firm Level
SA 220 Eng. QC Review Objectives of SA 220 and SQC1
Complaints and Allegations
Complaince with SQC1 - QCPP & Leader Responsibility
Factors affecting extent of WP
230 Ownership / Access to 3rd Parties / Property of Auditor

240 Full
250 All Topics
260 All Topics
265 All Topics
Responsibility of Joint Auditor Planning by Joint Auditor
Reporting by Joint Auditor Documentation
299
Division of work
Branch Audit and Joint Audit
Audit Strategy & Audit Planning - Relationship Initial Engagments - Audit Planning
300 Content of Audit Strategy
Changes in Audit Plan
Nature of Entity RAP
Control Environment Componenets of IC and Objectives of IC
Limitations of IC
315 IT Risks in IC
Significant Risk Areas determination
Assertions
Letter of Weakness
Materiality in Planning and Performing Audit Documentation of Materiality
Materiality and Audit Risks Case study on benchmark determination
320
Revision of Audit Materiality
Benchmark - Overall and Assertion Level
Test of Controls AP in Significant Risk Areas
330 Retest of Controls Substantive Vs Compliance Procedures
External Confirmation as AE SAAE
Understanding the User Entity / SO and Nature & Extent Type-1 and 2 Reports and relevance
of Activites conducted by SO Complementary User Entity Controls
402
Sub-Service Organisation Frauds at SO
Reporting by User Auditor
Sources of Misstatements Response when Misstatements identified
Re-determination of materiality in reporting
450 misstatements
Misstatements not corrected by management

Reliability of Audit Evidences Types of Audit Procedures

Using the work of Management Expert - All Points Methods and their characterstics
500
Testing - Size
Inconsistencies in AE
501 All Topics

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Audit POWER Charts By CA. Sarthak Jain

AUDIT POWER - CA. SARTHAK JAIN - FOR MAY 2022

Topic Wise ABC (Based on Past Exams and ICAI Mat.)

STANDARDS ON AUDITING
Download useful notes from www.fast.edu.in - Download section or FAST Education App at Playstore

Important Topics Based on PE / RTP / MTP / SM

SA Suggested other Imp Topics
of CA Final Audit - New Course
Management Refusal to Obtain EC / Non-Availability of Areas of ECR
EC
505 Desgninig ECR
Negative ECR
No Response to ECR
Audit Procedures on Opening Balances when PY Reporting
510
audited/Unaudited
Reliability of Data Types of Analytical Procedures
Investigating Results of AP Case studies on aplpying Analytical
520
Procedures
Sutaibility of Analytical Procedures
Stratified Sampling Sampling Risk
Projecting Misstatements Misstatements and Deviations
530 Evaluation of Samling Results Relationship of Identified Misstatements,
Projected Misstatements, Performace
Materiality, etc.
540 All Topics
550 All Topics
560 All Topics
570 All Topics
WR as AE Inconsitent or Doubts over reliability of WR
Response to Management Refusal to provide WR Areas of WR
580
Date and Period covered by WR Responsibility to Provide
WR about management responsibility
Role of PA Reporting responsibility
Other Auditr & Branch Auditor, Holding & Subsidiary
600 Auditor
Coordinating with PA
Using the Work of Internal Auditor - Whether, To What
610 Extent and Using Specific Work
Direct Asssistance of PA
620 All Topics
Reporting as per SA and ISA Forming and Opinion on FS
Supplementary information in AR Format Prescribed by Law
700
Management and Auditor Responsibility Para Unmodified Opinion Drafting
Signing of Report
Kam When no KAM
701 Determination of KAM Applicability of SA 701
Going Concern & KAM Drafting
Limitations Imposed
705
Drafting various types of modifications
Cpmparitivies,
Audit Procedures on Comparitivies
710
Reporting when PY report modified / missatements
identified of PY
Examples of Other Information Applicability
Reporting in case of Inconsistencies Reporting under various scenario
720
Drafting

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