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Monday, July 20, 2009

Important Topics for Advanced Auditing

  1. Appointment of Auditor by Special Resolution: Material date for 25% holding of subscribed share capital
  2. Audit of Branch Accounts
  3. Appointment of Special Auditor u/s 233A
  4. Audit Strategy
  5. Dividends and the related Rules on transfer of profits to reserves
  6. Final Dividend vs. Interim Dividend
  7. Corporate Form of Practice by CA
  8. New Disciplinary Mechanism
  9. Clause 5, 6, 7 and 8 of Part I, Schedule First
  10. Clause 7 and Clause 10 of Part I, Schedule Second
  11. Part IV and Part III of Schedule First and Schedule Second respectively
  12. Guidelines for website by CA
  13. Calculation of turnover u/s 44AB
  14. Clause 12A, 17, 21, 24, 27 and 32 of Form 3CD
  15. Audit of Public Trusts
  16. True and Fair cost of production
  17. Propriety Cost audit
  18. Management Audit and its objectives
  19. Financial Audit vs. Management Audit vs. Operational Audit vs. Internal Audit
  20. Types of Management Audit Reports
  21. Practical question on drafting Management Control Questionnaire (MCQ)
  22. Audit Trail
  23. Approaches to EDP Audit
  24. Service Bureau
  25. “The objective and scope of audit does not change in CIS environment.” Comment
  26. Propriety Audit and its types
  27. Propriety elements in CARO
  28. Investigation on behalf of incoming auditor
  29. Investigation for advancing loan
  30. Practical Question 4 from Chapter 10 (Question on Page 147 of the book)
  31. Due Diligence and contents of DDR report
  32. CARO applicability on Private Limited Companies
  33. Clauses of CARO dealing with: (i) End use of Funds, (ii) Section 301, (iii) Statutory Dues and (iv) Other Dues, (v) Frauds
  34. Classification of Investments by Banks
  35. Concurrent Audit
  36. AS 11, AS 17 and Banks
  37. NOSTRO and VOSTRO Accounts of Banks
  38. Solvency Margin
  39. Valuation of Investments by General Insurance Companies
  40. Reinsurance
  41. NBFC vs. Banks
  42. Classification of NBFC as per new guidelines of RBI
  43. Appointment of Auditor in Cooperative Societies
  44. Borrowings and Loans for Cooperative Societies
  45. Appropriation of Profits, Overdue Principal and Interest in case of Cooperative Societies
  46. Excise Audit 2000
  47. Accounting Aspects for Mutual Funds
  48. Whole Chapter on Members of Stock Exchanges, specially Margins, Circuit Breakers, Contract Notes, Types of Market in NEAT system, Limit Orders, Types of books and records
  49. New definition of Independent Directors under Clause 49
  50. CEO/ CFO certification under Clause 49
  51. Whistle Blower Policy
  52. Audit Committee
  53. Energy Audit and Environmental Audit
  54. Peer Review
  55. SOX
  56. Clause 41
  57. AAS 11, 26, 14, 15, 17, 23, 28, 29, 30 to 35
  58. Drafting of (i) Letter of Engagement and (ii) Management Representation Letter
  59. Guidance Notes: Independence of Auditors, Section 227(3)(e) and (f) reporting, Financial Information in Offer Document
  60. Practice Paper 3 and Practice Paper 5 of the Book


  1. Thank you sir

    Prakhar Saxena
    CA Final student

  2. Are these important topics are with reference to Nov,09 old scheme exams also?

  3. can i score 50+ marks in may'10 exams(new course)by doing only above mentioned important topics...?