CA Final Audit Class Notes By CA Pankaj Garg 5th Edition Nov 25 For Jan 26 Exam

Content

The Present Publication is the 5th Edition, authored by Pankaj Garg, with the following noteworthy features:

• [Concise—To-the-point Presentation] Each concept is expressed in short, exam-ready sentences without unnecessary text


• [Tabular & Visual Learning] Every topic is summarised through charts, tables, and flow diagrams for instant comprehension


• [Amendments Incorporated] Updated with the latest ICAI pronouncements and CARO 2020 clarifications


• [Colour-coded Highlights] Core principles, examples, and exceptions marked distinctly for faster scanning.


• [Practical Illustrations] Includes audit templates


• [Comprehensive Professional Ethics Coverage] All Clauses, ceilings, indebtedness limits, and UDIN rules explained


• [Smart Revision Tool] Perfect for last-day brushing of standards and ethics

The book is divided into 19 logically sequenced chapters, covering the entire CA Final syllabus:

• Quality Control (SQC 1, SA 220) – Firm-level and engagement-level quality policies, independence safeguards, and EQCR


• General Auditing Principles & Auditor’s Responsibilities – SA 200, SA 210, SA 240 (Fraud), SA 250 (Laws & Regulations), SA 260 (TCWG Communication), SA 299 (Joint Audit), SA 402 (Service Organisations)


• Audit Planning, Strategy & Execution – Audit strategy vs plan, risk evaluation, documentation, and practical programmes


• Materiality, Risk Assessment & Internal Control – Audit risk model, internal control frameworks (COSO, SOX, COBIT), and assertions


• Audit Evidence – SA 500–540 series covering evidence-gathering, sampling, confirmations, and estimates


• Completion & Review – SA 560, SA 570, SA 580 on subsequent events, going concern, and written representations


• Reporting – SA 700–706, SA 710, SA 720, and CARO 2020 in tabular format.


• Specialised Audits – Banks, NBFCs, PSUs, cooperative societies, and audit of consolidated financials (SA 600)


• Related Services – SRS 4400 (AUP), SRS 4410 (Compilation), and review of financial information


• Professional Ethics & Liabilities – First and Second Schedule clauses, maximum audit limits, indebtedness, UDIN norms


• Digital Auditing & Cybersecurity – GITC testing, analytics-driven audits, and audit of digital transactions


• Forensic, Investigation & Due Diligence – Distinction between audit and investigation, financial and legal due diligence procedures


• Assurance on Prospective Financial Information (SAE 3400/3402/3420) – Frameworks for special purpose engagements