✅ IBS - Very Important Exam Tips

👨🏻‍🎓 By CA Divyesh Vaghela

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➨ Don't waste too much time finding a similar case study. It shouldn't happen that questions are new but direct & easy, and content of the same could be easily found in ICAI module/other material you carry, but you run out of time.

Allocate a maximum 25 minutes overall to find a similar case studies.

➨ If it's new, first identify subject of question, then try to find which chapter it belongs to & then refer the ICAI module for the same.

➨ For Theory questions, search for the topic asked in the question from ICAI module index.

➨ For Practical questions, it's possible that it is taken from ICAI questions only. If unsure, quickly go through illustrations & TYK of relevant chapter.

➨Also If ICAI wants to repeat other question, they will do it from their IBS Case Study Digest or possibly from the Old course Multidisciplinary Case Study Digest
Make sure to carry the same.

➨ If any question is new & you can't answer, don't leave it completely blank. Write other relevant content of same topic & provide analysis, especially for theory.

➨ It's crucial to attempt 100% of the paper. Don't think that if you've found all the answers, it's okay to leave some marks of paper.

➨ In this exam, ICAI don't always give marks as per our expectations. I also expected 75 in eco law but ended up scoring 67. So this happens in open book paper.

Sometimes ICAI don't give full marks, but attempting full paper increases your chances of getting marks and this can really help you to score exemption.

From the start keep the same pace as paper will be very lengthy, so target to complete one case study in 50 minutes.

➨ To save time, Carry ICAI Module Index separately so that you won't need to open bulky module again & again during the exam.
https://t.me/Divyesh_Vaghela/1767

- Paper pattern - Attempt 4 CS out of 5
- MCQs 40 Marks - have to attempt in OMR

Just one last time! Give it your best shot 💪✨

All the Best!

✅ Hack to Score Good Marks in Audit Subject

Follow this for Questions you don't know.

👨🏻‍🎓 By CA Divyesh Vaghela

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Whenever you don't know the answer of descriptive question, write some general points by including relevant keywords given below.

This will be most useful when answering SA or in other chapters also where general questions asked where there is input of auditor needed.

Rather than leaving the answer blank, It's better to write something, because if any of your keyword match with the answer then you will be awarded marks.

And you know the importance of even single mark in a subject like Audit, right? Every mark counts, so it's essential to give your best effort and try to answer as many questions as possible.

➡️ Audit Common Keywords
https://t.me/Divyesh_Vaghela/1743

Do share it with your friends as well 👍

➡️ Some Common Keywords to be used in Audit Paper 

👨🏻‍🎓 By CA Divyesh Vaghela

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- Limitation on scope of audit due to circumstances
- Inquiry of management and TCWG
- Internal control system
- Consider impact on audit opinion as per SA 705
- Alternate audit procedures
- Sufficient and appropriate audit evidence
- Compliance with laws and regulations
- Material misstatement
- Existence and completeness
- Independence, integrity, and objectivity of auditor
- Operating effectiveness of controls
- Auditor's responses to the assessed risks
- Assertions regarding transactions, balances, and disclosure
- Substantive procedures/test of details
- Compliance procedures/test of controls to be used while answering on further audit procedures
- Nature, timing, and extent of audit procedures
- Re-evaluate reliability and integrity of management
- Discuss the matter with those charged with governance
- Going concern considerations
- Analytical review procedures for financial statements and in relation to material transactions

🔗 Must Read - When to use such keywords
https://t.me/Divyesh_Vaghela/1742

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𝕵𝖔𝖎𝖓 ➨ @Divyesh_Vaghela✅️

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✅CA Final | MCQ Answers - May 25 :

👨🏻‍🎓 By CA Divyesh Vaghela

Answers marked in MCQs

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📍FR :
https://t.me/Divyesh_Vaghela/1782

📍AFM :
https://t.me/Divyesh_Vaghela/1783

📍Audit :
https://t.me/Divyesh_Vaghela/1784

📍DT :
https://t.me/Divyesh_Vaghela/1785

📍IDT :
https://t.me/Divyesh_Vaghela/1786

📍IBS :
https://t.me/Divyesh_Vaghela/1787


➡️ All Subjects Chapterwise weightage - Trend Analysis (Included New Course also)
https://t.me/Divyesh_Vaghela/1204

#️⃣ Download All Useful Resources

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𝕵𝖔𝖎𝖓 ➨ @Divyesh_Vaghela✅️

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