🎙️ Audit by Neeraj
This podcast is dedicated to Audit Discussions. The host explains important concepts of Audit and also invites industry experts so that listeners can gain both theoretical knowledge and practical insights into the Audit subject.
Episodes
CA Inter Audit Chapter-1 Class 1 & 2
In this podcast, we will revise Few topics of Chapter-1.Basics Covered-* Meaning and Nature of Auditing* Audit Objective & Opinion* Misstatement* Materiality* Applicable Financial Reporting Framework (AFRF)* Types of Audit Opinion* TCWG vs Management* Preconditions for an Audit* Internal Control (IC)* Test Checking & Sampling* Professional Judgment* Audit Process & Framework* Risk of Material Miss
CA Inter Audit Chapter-3 Audit Risk & Risk Assessment Part-2
🚀 CA Inter Audit Podcast: Mastering Audit Risk & Risk Assessment! 🎧In this episode, we dive deep into Chapter 3 – Audit Risk and Risk Assessment for CA Inter Audit exams. 📚We will discuss SA 315 Identifying and Assessing the Risk of Material Misstatement Through Understanding the Entity and Its Environment.If you found this podcast insightful, imagine what structured classes can do!This discussion
CA Inter Audit Chapter-3 Audit Risk & Risk Assessment Part-1
🚀 CA Inter Audit Podcast: Mastering Audit Risk & Risk Assessment! 🎧In this episode, we dive deep into Chapter 3 – Audit Risk and Risk Assessment for CA Inter Audit exams. 📚 Gain clarity on:✅ Meaning of Audit Risk✅ Components of Risk of Material Misstatement – Inherent Risk, Control Risk & Detection Risk✅ Elements of Detection Risk & Other Key Insights✅ Significant Risk & Factors for Judgment in Id
CA Inter Audit Chapter-11 Ethics & Terms of Engagement Part-2
We’ve released a new podcast on Chapter 11 – Ethics & Terms of Engagement to help you revise on the go! 🎙️ This scoring chapter (10-11 marks in ICAI exams) is crucial, so make sure you go through it carefully.🔊 What’s Covered?✅ Independence of Auditor✅ Threats to Independence✅ Safeguards for Auditors✅ Guidelines for Applying Safeguards✅ Exam-Oriented Discussion on Threats to Independence🎧 Listen n
CA Inter Audit Chapter-11 Ethics & Terms of Engagement Part-1
🎙 Welcome to the CA Inter Audit Podcast – Ethics & Terms of Engagement!In this episode, we discuss key topics from Chapter 11 – Ethics & Terms of Engagement, an important and scoring chapter in ICAI Exams (worth around 10-11 marks).These podcasts are designed to help you revise on the go—whether you're traveling or taking a walk. However, they are not a substitute for full classes.🔹 Topics Covered
SA 580 Written Representation Podcast | Audit Podcast by Neeraj Arora
In this podcast, we will be discussing about SA 580 Written Representation.A written representation is a written statement by management provided to the auditor to confirm certain matters or to support other audit evidence. Written representations in this context do not include financial statements, the assertions therein, or supporting books and records.Written representations are an important so
SA 265 Communicating Deficiencies in Internal Control to Those Charged with Governance & Management
In this podcast, we will be discussing SA 265 Communicating Deficiencies in Internal Control to Those Charged with Governance & Management.SA 265 deals with the auditor’s responsibility to communicate appropriately to TCWG and management deficiencies in IC that the auditor has identified in an audit of FSs.Objective of auditor as per SA 265To communicate appropriately to TCWG and management defici
SA 320 | What is Materiality in Auditing? | Materiality क्या है?
In this podcast, I have discussed the “Concept of Materiality”. Following topics have been discussed in the podcast-SA 320 deals with the auditor's responsibility to apply the concept of materiality in planning and performing an audit of financial statements.The concept of materiality is applied by the auditor both in planning and performing the audit, and in evaluating the effect of identified mi
SA 300 Planning an Audit of Financial Statements | Audit Podcast | Audit by Neeraj
SA 300- Planning an audit of financial statements deals with the auditor's responsibility to plan an audit of financial statements. It states that objective of the auditor is to plan the audit so that it will be performed in an effective manner.Planning an audit is necessary to carry out it effectively in a timely manner. Besides ensuring compliance with professional standards, it helps in perform
Basics of Audit Part-3 | CA Intermediate | Neeraj Arora #Auditislove
In this podcast, I have discussed the “Basics of Auditing”. Following topics have been discussed in the podcast-* Basic understanding of Internal Control* Meaning* Examples* Why are internal controls carried out?* Framework to conduct auditIf you are appearing for the upcoming attempts of ICAI CA Intermediate Audit Exam then this podcast will definitely be of a great help.If you are the student of
Basics of Audit Part-2 | CA Intermediate | Neeraj Arora #Auditislove
In this podcast, I have discussed the “Basics of Auditing”. Following topics have been discussed in the podcast-* Type of Opinion - Clean and Modified Opinion* Qualified, Adverse and Disclaimer of Opinion* Meaning of Pervasive* Meaning of TCWG and Management* Preconditions for an auditIf you are appearing for the upcoming attempts of ICAI CA Intermediate Audit Exam then this podcast will definitel
Basics of Audit Part-1 | CA Intermediate | Neeraj Arora #Auditislove
In this podcast, I have discussed the “Basics of Auditing”. Following topics have been discussed in the podcast-* Meaning of Audit* Objectives of Audit as per SA 200* Meaning of Misstatement* Meaning of AFRFIf you are appearing for the upcoming attempts of ICAI CA Intermediate Audit Exam then this podcast will definitely be of a great help.If you are the student of EDU91 for CA Intermediate then
Is it compulsory to write in ICAI Study Material language?
In this podcast, you'll learn about the language style you should use when answering questions in the CA Exams held by ICAI. With the May 2024 exams coming near, many students are wondering how they should write their answers. They're asking if they have to use the exact language from the ICAI Study Material.Share this podcast with your friends also.Also, let me know in comments what all problems
How to Study CA Inter Audit for ICAI May 2024 Exams?
In this podcast, we're going to talk about how to get ready for the CA Inter Audit exams happening in May 2024. Since the exams are getting closer, students are feeling nervous about how to prepare & revise well in the audit subject. Audit is a vast subject that needs you to understand the concepts and also remember important words to pass the ICAI CA Inter Exam.How to study CA Inter Audit?You nee
31 SA 600 Using the Work of Another Auditor
SA 600- Using the Work of Another AuditorSA 200 ReferenceDespite delegating work or using work of other auditors/experts, the auditor is responsible for the final opinion. Can rely on others' work, provided he exercises adequate skill and care and is not aware of any reason to believe that he should not have so relied. (na rely karne ka koi reason nahi tha)Thanks for listening to the podcast “Aud
30 SA 560 Subsequent Events
SA-560 “Subsequent Events” deals with the auditor’s responsibilities relating to subsequent events in an audit of financial statements. Financial statements may be affected by certain events that occur after the date of the financial statements. Many financial reporting frameworks specifically refer to such events. Such financial reporting frameworks ordinarily identify two types of events: (a) Th
29 Relevance of Audit Evidence With Example
Relevance means the relationship of the evidence with the audit procedure and the assertion being checked.A given set of audit procedures may provide audit evidence that is relevant to certain assertions, but not others.For example, confirmation of balance from a customer is a relevant evidence as regards existence of receivable, but it may not be relevant as regards the collectability of the bala
28 SA 250
SA 250- Consideration of Laws and Regulation in an Audit of Financial StatementsResponsibility of Management for Compliance with Law and RegulationsIt is the responsibility of management,* with the oversight of those charged with governance,* to ensure that the entity’s operations are conducted in accordance with the provisions of laws and regulations,* including compliance with the provisions of
27 Risk assessment and Response With Example
Audit evidence to draw reasonable conclusions on which to base the auditor’s opinion is obtained by performing: (a) Risk assessment procedures; and (b) Further audit procedures, which comprise: * Test of controls, when required by the SAs or when the auditor has chosen to do so; and * Substantive procedures, including tests of details and substantive analytical procedures.Risk assessment procedure
26. Test of Control
Test of controlMeaningAn audit procedure * designed to evaluate the operating effectiveness of controls * in preventing, or detecting and correcting, material misstatements at the assertion level.Why and When (Circumstances)?The auditor shall design and perform tests of controls to obtain sufficient appropriate audit evidence as to the operating effectiveness of relevant controls when:* He expects
25 Overall Objectives of Auditor
In conducting an audit of financial statements, the overall objectives of the auditor are● To obtain reasonable assurance about* whether the financial statements as a whole* are free from material misstatement,■ whether due to fraud or error,* thereby enabling the auditor to express an opinion on■ whether the financial statements are prepared,■ in all material respects,■ in accordance with an appl
24 What is Audit? Detailed Explanation.
What is an assurance engagement?Assurance engagement is a kind of service engagement (arrangement) in which a person gives his opinion on specific information.The person giving an opinion is called a practitioner.The practitioner is usually appointed by the intended user, who is the person who will be using the information.The “Specific Information” is prepared by another party known as the responsi
23 SA 500 Audit Evidence 2022
This Standard on Auditing (SA) outlines the responsibilities of an auditor to obtain sufficient and appropriate audit evidence in order to form reasonable conclusions and provide an opinion on financial statements. It covers all aspects of the audit process, including the design and execution of audit procedures to obtain audit evidence. Other SAs address specific topics, procedures, and evaluatio
22. Relationship of Internal Control and Assertion
In this episode, we will discuss how Internal Control Impacts the assertions to be checked by the auditor.If you're liking this podcast, then you will definitely enjoy the detailed lectures of CA Intermediate Auditing by Neeraj Arora Sir. We highly recommend you to check out Edu91's CA Intermediate Audit Classes - https://www.edu91.org/s/store/courses/CA%20Inter%20Audit If you're interested in tak
21. SA 240 Auditor and His Responsibilities related to Fraud | Part 1 | Audit Podcast By Neeraj Arora| Episode 21
Hi Guys! In this episode we will discuss SA 240. SA 240 deals with Auditor and His Responsibilities related to Fraud. If you're liking this podcast, then you will definitely enjoy the detailed lectures of CA Intermediate Auditing by Neeraj Arora Sir. We highly recommend you to check out Edu91's CA Intermediate Audit Classes - https://www.edu91.org/s/store/courses/CA%20Inter%20Audit If you're inter
20. A Brief About Substantive Procedures | Audit Podcast by Neeraj Arora | Episode 20
Hi Guys! In this episode we will discuss what is substantive procedure in audit.If you're liking this podcast, then you will definitely enjoy the detailed lectures of CA Intermediate Auditing by Neeraj Arora Sir. We highly recommend you to check out Edu91's CA Intermediate Audit Classes - https://www.edu91.org/s/store/courses/CA%20Inter%20Audit If you're interested in taking Audit Practical Traini
19. What Is Assurance? Audit Podcast By Neeraj Arora | Episode 19
In this episode we will discuss what is the meaning of assurance and we will discuss it in general language. The motive of this episode is to make everyone understand in easy language that what is the meaning of assurance & auditing. In general terms assurance means giving an opinion on specific information so that user of that specific information can make well informed decision.If you're liking
18. What Is Audit? Audit Podcast By Neeraj Arora | Episode 18
In this episode we will discuss what is the meaning of auditing and we will discuss it in general language. The motive of this episode is to make everyone understand in easy language that what is done in auditing. I will not go with the technical definition of auditing at all. In general terms auditing is all about checking that whether rules and regulations are you can say guidelines or the crite
17. SA 505 External Confirmation | Audit Podcast By Neeraj Arora | Episode 17
Hi guys, in this podcast we're going to discuss this SA 505. This Standard on Auditing (SA) deals with the auditor’s use of external confirmation procedures to obtain audit evidence in accordance with the requirements of SA 330 and SA 500.If you're liking this podcast, then you will definitely enjoy the detailed lectures of CA Intermediate Auditing by Neeraj Arora Sir. We highly recommend you to c
16. SA 500 Audit Evidence | Audit Podcast By Neeraj Arora | Episode 16
Hi Guys! In this episode of the podcast, we will revise CA Intermediate/Final SA 500 Audit Evidence.SA 500 explains what constitutes audit evidence in an audit of financial statements, and deals with the Auditor's responsibility to design and perform audit procedures to obtain sufficient appropriate audit evidence to be able to draw reasonable conclusions on which to base the auditor's opinion. T
15. SA 501 Full | Audit Podcast By Neeraj Arora | Episode 15
Hi Guys! In today's episode, we're going to talk about SA 501. The name of this SA is: AUDIT EVIDENCE — SPECIFIC CONSIDERATIONS FOR SELECTED ITEMSThis SA deals with specific consideration by an auditor to obtain sufficient & appropriate audit evidence with aspect to certain aspects of:-Inventory;Litigations & Claims;Segment InformationTune in to the podcast to revise SA 501 in a lucid manner.If yo
14. SA 220 Part 3 of 3 | Audit Podcast By Neeraj Arora | Episode 14
In this episode, we're going to talk about SA 220, which is Quality Control for an Audit of Financial Statements. Here we talk about the assignment of engagement teams.SA 220 deals with the specific responsibilities of the auditor regarding quality control procedures for an audit of financial statements where applicable, the responsibilities of the engagement quality control reviewer.Listen to the
13. SA 220 Part 2 of 3 | Audit Podcast By Neeraj Arora | Episode 13
In this episode, we're going to talk about SA 220, which is Quality Control for an Audit of Financial Statements. This is the 2nd part of SA 220, here we talk about the responsibilities of an engagement partner.SA 220 deals with thespecific responsibilities of the auditor regarding quality control procedures for an audit of financial statementswhere applicable, the responsibilities of the engageme
12. SA 220 Part 1 of 3 | Audit Podcast By Neeraj Arora | Episode 12
In this episode, we're going to talk about SA 220, which is Quality Control for an Audit of Financial Statements. This is the 1st part of SA 220 podcast, here we talk about the basics of this SA.SA 220 deals with thespecific responsibilities of the auditor regarding quality control procedures for an audit of financial statementswhere applicable, the responsibilities of the engagement quality contr
11. SA 701 Communicating KAM | Audit Podcast By Neeraj Arora | Episode 11
In this episode, we're going to talk about SA 701, which is Communicating Key Audit Matters in the Independent Auditor’s Report. We have talked about KeyAuditMatters: Those matters that, in the auditor’s professional judgment, were of most significance in the audit of the financial statements of the current period. Key audit matters are selected from matters communicated with those charged with go
10. SA 700 Forming and Opinion and Reporting on Financial Statements | Audit Podcast By Neeraj Arora | Episode 10
Hello everyone, welcome to our podcast "Audit By Neeraj".In today's episode, we're going to revise SA 700: Forming an Opinion and Reporting on Financial Statements.SA 700 (Revised) deals with the auditor’s responsibility to form an opinion on the financial statements (FS) and also with the form and content of the auditor’s report issued as a result of an audit of FS.Listen to the entire podcast to
9. Auditor’s responsibility for failure to detect fraud and errors | | Audit Podcast By Neeraj Arora | Episode 9
As per SA 240, the responsibility for the prevention and detection of fraud and error rests with the management through the implementation of an adequate system of internal control. Such a system reduces but does not eliminate the possibility of fraud and error.Listen to the entire podcast to revise SA 240.If you're liking our podcast "Audit By Neeraj", then you will definitely enjoy the detailed
8. Inherent Limitations of Auditing | Audit Podcast By Neeraj Arora | Episode 8
In this episode, we will cover the inherent limitations of auditing. There are four inherent limitations of auditing and all are very important from the exam point of view. If you're liking our podcast "Audit By Neeraj", then you will definitely enjoy the detailed course of CA Intermediate Auditing by Neeraj Arora Sir. We highly recommend you to check out Edu91's CA Intermediate Audit Classes - ht
7. APC Professional Skepticism | Audit Podcast By Neeraj Arora | Episode 7
As per SA 200, "Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Standards on Auditing",Professional skepticism is an attitude that includes a questioning mind,being alert to conditions that may indicate possible misstatement due to error or fraud,and a critical assessment of audit evidence.If you're liking our podcast "Audit By Neeraj", then you will de
6. Audit Procedures and Assertions | Audit Podcast By Neeraj Arora | Episode 6
In this video, we will revise one of the most important concepts in the world of auditing. Audit Procedure and Assertions.Audit procedures are the methods that auditors use for obtaining audit evidence to form a basis for their opinion on financial statements. They are performed in order to test various audit assertions related to a different class of transactions and account balances.Listen to th
5. Audit Risk | Very Important | Audit Podcast By Neeraj Arora | Episode 5
Hello guys, in this episode we're going to talk about Audit Risk.Audit risk is the risk that the auditors express an inappropriate audit opinion on financial statements. It is the risk that auditors give an unqualified or clean opinion on the financial statements that contain a material misstatement. This is a very important podcast, this topic looks simple but a lot of students still get confused
4. The Flow of events in Audit | Audit Podcast By Neeraj Arora Episode 4
Hello everyone, In today's episode, we will learn about the flow of events in an audit. We will also discuss the Important SAs. Tune into the podcast and get a good understanding of the topic: Flow of events in Audit.If you're liking our podcast "Audit By Neeraj", then you will definitely enjoy the detailed course of CA Intermediate Auditing by Neeraj Arora Sir. We highly recommend you to check ou
3. TCWG, Management, Internal Control, Test Checking and Judgement | Audit Podcast By Neeraj Arora Episode 3
Hi Guys, In this episode, we will learn about the responsibilities of Management, Internal Control and other small topics. We will also discuss the importance of these topics.In the audit subject, if your basics are not clear then you will face difficulty in understanding the practical applicability of the important terms and provisions. Please make sure that you're listening to the podcast with f
2. Types of Opinion and Meaning of Pervasive | Audit Podcast By Neeraj Arora Episode 2
In this podcast we have discussed, the types of opinion and the meaning of pervasive with respect to the effect of misstatement on financial statements. Dive into the field of the audit with us by subscribing to the podcast. Oh by the way, you can download the episodes also so that you can listen to them whenever you want.If you're liking our podcast "Audit By Neeraj", then you will definitely enj
1. Audit by Neeraj for CA Inter - Chapter 1 - Episode 1
Audit by Neeraj for CA Inter - Chapter 1 - Episode 1. We will be talking about "Nature, Objective and Scope of Audit. This episode will not only help you revise the topics easily but will also lay a strong foundation for further studies in the audit.If you're liking our podcast "Audit By Neeraj", then you will definitely enjoy the detailed course of CA Intermediate Auditing by Neeraj Arora Sir. We
