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CA Final Audit - Risk Assessment - (SA-315,SA-320,SA-330,SA-450,SA-265, Revision lectures
https://youtu.be/kxaxu04nIcI

CA Final Audit Concept capsule -9

Assertions are representations made by management. Have you ever deeply analyzed this statement? Let’s break it down with an example.

When management prepares financial statements, they are making various assertions to the auditor.

📌 Example 1: Balance Sheet (Assets)
Management asserts that:
✅ The assets belong to the entity (Rights & Obligations Assertion).
✅ The valuation is correct (Valuation Assertion).
✅ All assets are included (Completeness Assertion).

📌 Example 2: Profit & Loss Statement (Sales)
Management asserts that:
✅ The sales actually occurred during the year (Occurrence Assertion).
✅ Complete sales are recorded (Completeness Assertion).
✅ Sales are recorded at the correct value (Accuracy Assertion).

For every item in the financial statements, management makes assertions, and it is the auditor’s responsibility to verify whether these assertions are true and fair.

💡 Now here’s a question for you—Which assertion do you think is the most critical from an audit perspective, and why? Drop your thoughts in the comments! 👇💬

CA Final Audit Live from Home Batch for Nov 2025 & Onward
https://youtu.be/OzWo2ioxX8o

🚀 CA FINAL AUDIT - LIVE FROM HOME BATCH
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CA Final Audit Concept capsule - 10

A loan account will be treated as NPA if installment is not paid for a continuous period of 90 days from the due date.

However, if central government gives guarantee for the loan, then such a loan will not be treated as NPA, even if installment has not been paid for a period of 90 days, until and unless the guarantee has been repudiated by the central government.

You need to remember that this exception is not applicable for the loans guaranteed by state government.

However this exceptiin is not applicable for income recognition, Interest income on NPA has to be recognized inly on receipt basis

There are Major Amendments in CA Final Audit applicable for May 2025 Examinations in the following areas
1) SA 450
2) SA 800 series
3) Audit of NBFC’s
4) Audit of Banks
5) Professional Ethics

Don’t forget to cover these amendments in your preperation. Check out the Amendments from the below video👇👇



https://youtu.be/YMYKHkA5LE4

📢 CA Final Audit – ICAI Case Scenarios Explained! 📢

I have made a detailed video explaining 35 case scenarios from the ICAI Case Scenario Booklet for CA Final Audit. This will help you understand how to approach and analyze case-based questions effectively!

📌 Don’t miss this – essential for exam preparation! 💯

https://youtu.be/acv44uHKGDA?si=8Qu7BXi5HeE3OgV_

CA Final Audit Concept capsule - 11

While determining NPAs in case of bank, the NPA classification has to be done borrower wise but not facility wise. Now what does this mean? Let us understand this clearly with an example.

Let's say Mr. A has taken two loans from U Bank. First loan is a term loan of Rs. 10 crore and the second loan is a working capital loan of Rs. 5 crores. Now, the term loan has become NPA but working capital is regularly paid and not an NPA.

In this situation, since term loan has become NPA and this working capital loan also belongs to Mr. A only, both the loans i.e. term loan and working capital loan has to be treated as NPA.

Hope now you understood the statement “ NPA classification is borrower-wise but not facility-wise”.

Official announcement from ICAI… CA Final exams are going to be condected thrice in a year
https://youtube.com/shorts/9OwW2Jl6iJs?feature=share

CA final exams thrice a year - Impact on NOV 25 attempt
https://youtu.be/8pvrxBFS-cI

RTP - May 2025 CA Final Audit Discussion
https://youtu.be/kmaRsrklI3g

CA Final Audit Professional Ethics Revision with Amendments
https://youtu.be/-HVDHdKov8k

CA Final Audit 56 Case Scenarios - ICAI Booklet & SM