Clear CA with Shubham Keswani

2024-04-13 18:53:01 10. _____requires firms to establish policies and procedures for the retention of ________.The retention period for audit engagements ordinarily is no shorter than ______from the date of the auditor’s report, or, if later, the date of the group auditor’s report

a) SA 220, audit evidence, six years

b) SA 200, audit documentation, seven years

c) SQC 1, engagement documentation, seven years

d) SA 230, documentation, six years ओपन / कमेंट

2024-04-13 18:50:23 Last Question of the day!! ओपन / कमेंट

2024-04-13 18:47:59 9. Which of the following is incorrect about audit procedures performed to obtain understanding of controls at Service Organisation?

a) Obtaining a Type 1 or Type 2 report, if available

b) Contacting SO directly to obtain specific info

c) Visiting SO and performing procedures that will provide info about controls at SO

d) Using another auditor to perform procedures that provide necessary info about controls at SO ओपन / कमेंट

2024-04-13 18:46:02 8. For audit of Listed entities engg partner is required to rotate after:
a) 1 year
b) 5 Years
c) 7 Years
d) 10 years ओपन / कमेंट

2024-04-13 18:42:10 7. Who is eligible to be appointed as the auditor for summary financial statements:

a. Chartered Accountant eligible to be appointed as auditor
b. Auditor of the historical financial statements
c. Any professional
d. Any person ओपन / कमेंट

2024-04-13 18:39:50 6. If the auditor expresses an adverse opinion or disclaim an opinion on the entity’s complete set of financial statements as a whole, what type of audit opinion the auditor may issue for single financial statement that forms part of those financial statements or on a specific element that forms part of those financial statements.

I. Disclaimer of opinion
II. Unmodified opinion
III. Modified opinion
IV. Adverse opinion

a. Only I
b. Only II
c. Only IV
d. I or III or IV ओपन / कमेंट

2024-04-11 07:38:34 Problems are everywhere!

Delhi air is polluted..do we stop living?

India has corruption..do we leave and settle abroad?

Roads have lots of potholes..don’t we still go out?

How many times yesterday did you feel bad about the above problems?

Trust me you may not even have thought about them.

Knowing that everyone is going through the same.

That thought made you comfortable.

Now what if I say all CA Students are struggling in this last month.

Its not only you.

Its all..each & every one of them.

Does it mean we stop studying?

No!!

It means that when everyone is facing it..it isn’t a point of concern anymore.

Its an opportunity.

Opportunity to stand out of the crowd.

Opportunity to pass in coming exams

Not by doing anything extraordinary.

Rather,

By simply studying for next few days.

That’s it.

Keep going

Khushi se padhenge,
Tabhi aage badhenge!! ओपन / कमेंट

2024-04-10 19:03:14 If you face Small Co. & CARO applicability confusion.

Check this video:

ओपन / कमेंट

2024-04-10 18:55:12 Thanks for attending today’s session!

Tomorrow’s target:
SQC-1/SA 220

Lage Raho ओपन / कमेंट

2024-04-10 18:53:40 10. The description of the auditor’s responsibilities for the audit of the financial statements shall be included:

I. Within the body of the auditor’s report.

II. Within an appendix to the auditor’s report, in which case the auditor’s report shall include a reference to the location of the appendix.

III. By a specific reference within the auditor’s report to the location of such a description on a website of an appropriate authority, where law, regulation or the auditing standards expressly permit the auditor to do so.

a) I,II
b) I,III
c) I,II or III
d) II or III ओपन / कमेंट