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CA Final Audit Paper Analysis -May 2017 Exam

CA Final Audit Paper Analysis – May 2017 Exam

CA Final Audit Paper Analysis of may 2017 Exam.Here we are providing complete analysis of CA Final Audit Paper of may 2017 Exam.Scroll down and check out the complete analysis of CA final Audit -may 2017 Exam

Download all the CA Final Question paper with solution- May 2017

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Download all the CA Final Question paper with solution  – nov 2016

Here we are providing CA Final Nov 2016 Exam question papers.We will also provide solution to this paper very soon.Keep checking here.

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CA Final Financial Reporting question paperCA Final Financial reporting question paper with Solution
CA Final Strategic Financial Management question paperCA Final SFM question paper with Solution
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Download all the CA Final Question paper with solution- May 2016

Here we are providing CA Final May 2016 Exam question papers.We will also provide solution to this paper very soon.Keep checking here.

CA Final Exam Question PaperCA Final Exam question paper with solution
CA Final Financial Reporting question paperCA Final Financial reporting question paper with Solution
CA Final Strategic Financial Management question paperCA Final SFM question paper with Solution
CA Final Advanced Auditing and Professional Ethics question paperCA Final Audit question paper with Solution
CA Final Corporate and Allied Laws question paperCA Final Law question paper with Solution
CA Final Advanced Management Accounting question paperCA Final AMA question paper with Solution
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Download all the CA Final Question paper with solution-November 2015

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Download all the CA Final Question paper with solution-May 2015

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CA Final Financial Reporting Question paperCA Final Financial Reporting Question paper with solution
CA Final Strategic Financial Management question paperCA Final Strategic Financial management Question paper with Solution
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CA Final Corporate and Allied Laws Question PaperCA Final Corporate and allied Law question paper with Solution
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Download all the CA Final Question paper with solution-November 2014

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CA Final Financial Reporting Question paperCA Final Financial Reporting Question paper with solution
CA Final Strategic Financial Management question paperCA Final Strategic Financial management Question paper with Solution
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CA Final Advanced Management Accounting Question PaperCA Final Advanced Management Accounting question paper with  Solution
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CA Final Direct Tax Laws Question PaperCA Final DT Question paper with Solution
CA Final Indirect Tax Laws Question PaperCA Final IDT Question paper with Solution

Download all the CA Final Question paper with solution- May 2014

CA Final Exam Question PaperCA Final Exam question paper with solution
CA Final Financial Reporting Question paperCA Final Financial Reporting Question paper with solution
CA Final Strategic Financial Management question paperCA Final Strategic Financial management Question paper with Solution
Ca Final Advanced Auditing Question PaperCA Final Advanced Auditing question paper with Solution
CA Final Corporate and Allied Laws Question PaperCA Final Corporate and allied Law question paper with Solution
CA Final Advanced Management Accounting Question PaperCA Final Advanced Management Accounting question paper with Solution
CA Final Information Systems Control and Audit Question PaperCA Final ISCA Question paper with Solution
CA Final Direct Tax Laws Question PaperCA Final DT Question paper with Solution
CA Final Indirect Tax Laws Question PaperCA Final IDT Question paper with Solution

CA Final Audit Paper Analysis :  “Though not difficult but definitely out of the box paper by ICAI”

ca-final-audit-paper-analysis

• Only 37 marks out of 116 from Practice Manual / Past Papers last time it was around 60

• No question was asked from Nov 16 RTP, last time around 12 marks were asked

• Case Study of only 4 marks from Professional Ethics, generally it is 16 marks case studies which are most scoring, Other 2 questions were simple but theory based.

• Company Audit & CARO accounted for 16 marks which were for 28 marks last time.

• Around 60 marks questions from small chapters which were asked for 40 marks last time. But the big change is many questions were new from remote corners of module, last time they were from PM.

• Once in 3-4 attempts you get such paper.

• If some has good conceptual knowledge they would have written good answers, may not be exact as expected, but they can expect reasonable marks.

• All above things are justified by ICAI as it is a CA Final examination, which is one of the toughest in the world.

• It appears as if, examiner studied books & notes of all popular professors, then marked areas of module (2073 Pages) which were left out by all, as they were never asked for so many exams. And then many questions were asked from such remote corners of module.

• I expect checking will be lenient.

ca final audit paper analysis

ca final audit paper analysis

Below analysis is subjective, taking into consideration my interaction with students I feel following is appropriate.

ca final audit paper analysis.

*All above analysis has been developed after spending hours to determine exact source of questions, each and every question of paper was critically analysed for its level also. Sometimes students or others may pass judgment in haste. It is advisable not to derive your strategy based on such comments.

Message is clear from ICAI, you cannot do selective studies. If you do selective studies your chances will be always 50-50. You will be always dependent on luck factor. For such papers, only one plan works, study everything in detail.

we observed students start their studies late or they are ill-planned and majority of them allocates just 10-15 days for AUDIT. Little PM, Little RTP, then IMPs and then they expect they should score exemptions, it may sound rude and harsh to few but these are the facts. I also give IMPs etc just to keep morale high and improve chances of clearing exams. But just relying on them is not a good idea.

Further students should get rid of common misunderstanding that you don’t get marks because of language. It is not about some 100-200 technical words. Students should learn to express all thoughts in sequential manner in understandable sentences. Students generally don’t express all the content they know, they eat lot of content and expect evaluator should have at least this much of knowledge to understand what half they have written. Golden advice is to write as if other person doesn’t know anything about that concept. One should write one page daily on any topic he studied and ask anyone to read it or compare it with past answers provided by ICAI.

Recommended Read : CA Final Law Paper Analysis of Nov 2016 Exam

Other Important points 

• For good preparation of AUDIT, you need around 100 teaching hours of classes. After this, content taught should be regularly covered by giving 50% time, i.e is around 50 hours. After this, PM questions should be covered in next 75 hours. So the total 225 hours should be given over the period of at-least 2 months. It is also very important to improve your paper writing skills so it is advised to solve at-least 3-4 papers before appearing for final exams. And then 1-2 revisions as time permits in 50 hours each time.

• To be honest I suggest students to follow my notes & questions from PM which are linked to notes, to avoid repetitions of questions, of around (708 + 482) that is around 1200 pages. Around 95 marks paper would be covered if someone followed this combination properly. Then students demand, what is important out of this as it is difficult to retain & reproduce so much. Many times, students approach me with lack of time, in such scenarios I have to suggest them shortcuts just to keep their moral high and boost their confidence to perform to the best of their ability. Now I have pledged that every nook & corner will be covered, it may add 100-200 pages, that’s fine and if students don’t have time they will have to face challenges in exam.

we will be uploading all the answers soon.Keep checking Visit cakart.in downloads section

CA Final Audit Paper Analysis – May 2016 Exam: 

This article has the brief analysis of CA Final Audit Paper held on May 2016.

Must Read : Complete Analysis of CA Final Audit paper : Find the reason behind low marks

CA Final Audit Paper Analysis – May 2016 Exam:

Exam days are busy days both for students & professors. Doubt solving, morale boosting, last minute tips and so on. 6th May was a similar day as we had CA Final Audit Paper.

By seeing Audit paper, first impression it is lengthy. Number of pages can be sometime a rough judgement about it as we need more time to read, interpret & answer if numbers of pages are more.

  • May14- 8 pages
  • Nov14- 7 pages
  • Nov15- 7 pages
  • May15-7 pages

But this time, MAY-16 exams were 11 pages. So it is definitely lengthy. No 6 marks or 8 marks questions were asked, it was all 4 or 5 marks so students were suppose to write many questions which needs a lot of time.

Now lets analyse difficulty level, on the basis of experience of students though process.

Row LabelsMarks
Easy61
Medium22
Difficult37
Grand Total120
ca-final-audit-paper-analysis

ca-final-audit-paper-analysis

CA Final Audit Paper Analysis – May 2016 Exam

TRAP

Some questions appeared simple but few will be able to do justice.  Like Q 1b was on SA 505, where students generally study Positive Vs Negative Confirmation Request, Process of external confirmation etc but question was on “Designing” confirmation request not process further “Effects” of positive confirmation. Generally students leave this part y saying “Sir whether questions are asked in such detail, is it asked in any exams before? But those who followed instructions religiously won.

Similarly Q 3a which asked to comment on presentation & disclosure aspects in SAE 3400, leaving regular questions aside. Q 3d Dividend was proposed by BOD and cancelled by them, this is not dividend declared and cancelled  as many must have thought and answered.

Further Some questions  were weird like “Key requirements of auditing standards of Public Company Accounting Standard Board” now you can write loads and loads of things but what exactly they are expecting was unknown. Further there is no such thing in ICAI practice manual or Module. Well ICAI will do some such things. They cannot give lollipop everywhere.

ca-final-audit-paper-analysis

ca-final-audit-paper-analysis

CA Final Audit Paper Analysis – May 2016 Exam

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Chapter weight-age was as expected.

Chapter Marks
SA32
Company Audit

(Co Aud)

28
Professional Ethics (PE)16
Tax Audit8
Public Sector Unit (PSU)4
Stock Exchange (SE)4
General Insurance Company (GIC)4
Bank Audit4
NBFC4
SOX4
AS4
Cost Audit4
Peer Review4
Grand Total120
ca-final-audit-paper-analysis

ca-final-audit-paper-analysis

So it was definitely in favour of students. It was as expected so for this point of view it is a easy paper. That means in coming papers they may explore other chapters in detail.

Now lets see the expectation of students score.

  Good Studies Average Studies Poor Studies
Attempt 90-100 80-90 70-80
Easy (61 M)90%45-5475%35-4550%20-30
Medium (22 M)75%15-1850%10-1230%6-8
Difficult (37 M)50%5-1030%2-820%0-2
  65-85 45-65 25-40

Many answer sheets of Nov-15 & prior exams and made a rough estimates of how students of various preparation level perform. As usual students will first solve easy and then difficult. So some difficult questions will be left out. Marks will definitely vary with individual performances. % scoring depends on quality of studies.

Overall we can say, it was average paper may be more on simple side.

Now how to crack such papers and may be more difficult papers.

1. Start early if you neglect Audit, marks will neglect you.

2. There are plenty of stories where students appear for 4-5 attempts may be more because of low scoring in audit.  Why take risk? Just like you consult doctor for health, consult specialists in subject and give your preparation a proper direction and become more efficient & effective.

3. You need to cover concepts in deep, not just regular past questions otherwise you wont be able to solve 30-40% of paper. That’s the big marks killer.

4. You need good concise material to revise whole subject before exams.

5. You need to know how to answer questions from different chapter.

6. You should solve few papers before exams.

ca-final-audit-paper-analysis

ca-final-audit-paper-analysis

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