Episodes
SA 600- Using the Work of Another Auditor SA 200 Reference Despite 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 “Audit By Neeraj”. Subscribe for free to receive new Audit Podcasts. Basics * Applicable in...
Published 06/08/23
Published 06/08/23
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) Those that provide evidence of conditions that existed at the date of the financial statements;...
Published 02/13/23
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 balance due from customer. Also, physical observation of inventories is relevant evidence relating...
Published 01/30/23
SA 250- Consideration of Laws and Regulation in an Audit of Financial Statements Responsibility of Management for Compliance with Law and Regulations It 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 laws and regulations that determine the reported amounts and disclosures in an entity’s...
Published 01/29/23
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 procedures refer to the audit procedures performed to obtain an understanding of the entity and its...
Published 01/23/23
Test of control Meaning An 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 that the controls are operating effectively, or * Substantive procedures alone cannot...
Published 01/22/23
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 applicable financial reporting framework; and ● To report on the financial statements, and...
Published 01/08/23
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 responsible party. For expressing an opinion on “specific information” the practitioner will examine...
Published 01/05/23
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 evaluations related to obtaining audit evidence. This is a public episode. If you would like to discuss...
Published 12/20/22
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 taking Audit Practical Training then check out ThinkingBridge -...
Published 08/25/22
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 interested in taking Audit Practical Training then check out ThinkingBridge -...
Published 01/27/22
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 Training then check out ThinkingBridge - https://www.thinkingbridge.in/s/pages/audit-master-class 
Published 01/25/22
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 this podcast, then you will definitely enjoy the detailed lectures of CA...
Published 12/20/21
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 criteria is followed or not.
Published 12/11/21
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 check out Edu91's CA Intermediate Audit Classes -...
Published 12/05/21
Hi Guys! In this episode of 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.   To know more in detail about SA 500 listen to this podcast till the end. In this podcast we will...
Published 06/18/21
SA 501 Full | Audit Podcast By Neeraj Arora | Episode 15 For more updates on Audit please visit www.edu91.org  
Published 04/18/21
For more updates on Audit please visit www.edu91.org  
Published 02/18/21
This is part 2 of SA 220. Keep learning.
Published 02/17/21
Hey guys in this podcast we will revise the basics of SA 220.  Please listen to the entire podcast and revise it.  All the best.
Published 02/17/21
In this episode, we will revise SA 701, This Standard deals with -Communicating Key Audit Matters in the Independent Auditor’s ReportFor CA Inter and CA Final Audit Lectures, please visit www.edu91.org
Published 12/26/20
We will cover SA 700 Revision in this podcast. For CA Inter and CA Final Audit Lectures, please visit www.edu91.org 
Published 12/21/20
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. CA Inter Audit Classes - https://www.edu91.org/s/store/courses/CA%20Inter%20AuditNeeraj Aroraसीखना बंद तो जीतना बंद 
Published 09/06/20
In this episode, we will cover the inherent limitations of auditing. There are four inherent limitations of auditing and all are very important from exam point of view. All the bestCA Inter Audit Classes - https://www.edu91.org/s/store/courses/CA%20Inter%20AuditNeeraj Aroraसीखना बंद तो जीतना बंद 
Published 09/06/20