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Audit Classes by Neeraj Arora Sir
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At Intermediate Level, Auditing & Ethics is Paper5 which is of 100 Marks.

As per the New Course Syllabus of ICAI, CA Inter Audit has been renamed as CA Inter Auditing & Ethics. Now, the CA New Course Syllabus has been divided into 11 Chapters. In this video, we will be revising Chapter1 of CA Inter Audit which is Nature, Objective and Scope of Audit.

This Chapter discusses the basics of audit such as Origin, Nature, Scope, Objectives, limitations etc. of audit. Meaning & Types of Assurance Engagements.

00:00 Introduction
00:49 General Discussion
04:27 Meaning of Audit and analysis of Definition
06:07 Objectives of Auditor
07:36 Meaning of Reasonable assurance
07:45 Meaning and Elements of Assurance engagement
12:50 Meaning of Misstatement
14:06 Types of Opinion and Meaning of Pervasive
17:32 Meaning of TCWG and Mgt
17:50 Preconditions for an Audit
19:54 Meaning of Internal Control
24:44 Some other Basic Concepts (Meaning of Test checking, Judgment)
26:45 Framework to conduct audit
29:32 Meaning of Risk assessment and RAP
31:48 Further Audit Procedures
34:55 Assertion concept and questions discussed on assertions
47:35 Meaning of Audit Risk
51:19 Meaning of Audit Evidence
52:28 Inherent Limitations of Audit
57:26 Audit Procedures
01:01:32 Quality Control and Engagement Standards
01:18:07 Scope of Audit
01:20:30 Qualities of Auditor
01:22:02 Person conducting an audit should take care to ensure that financial statements would not mislead anybody
01:23:21 Benefits of Auditing
01:24:36 Audit Mandatory or Voluntary
01:25:13 Interdisciplinary Nature of Auditing relationship with Diverse Subjects
01:26:05 Other small topics (Who Appoints an Auditor?, To Whom Report is submitted by an Auditor?
01:26:27 Meaning of True and Fair
01:30:16 Live MCQs

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