CA Final Audit November 2024 Paper Review | Complete MCQ Solution | CA Siddharth Agarwal

[@SiddharthAgarwalClasses]

kzbin.info/www/bejne/pqTUiZmBapKrY6c Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.

[@navinrathod6757]

I did 1 MCQ wrong in FR and 1 in AFM, I was so happy and then comes ICAI with this kind of paper expecting some grace marks from ICAI in Audit to clear the group.

[@AmanPanjwani-dr4rv]

For MCQ-2 Pg 14.21 and 14.22 of ICAI module says what is to be included and excluded in the DTL position…I think option D should be the answer

[@SiddharthAgarwalClasses]

kzbin.info/www/bejne/pqTUiZmBapKrY6c Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.

[@darshanshah3234]

Mcq 14 answer will be D point no. 3 only because in ISA revised 2013 it states that ISA 610 (Revised 2013) states that internal auditors cannot carry out procedures when providing direct assistance that: Involve making significant judgment in the audit Relate to higher assessed risks of material misstatements where the judgment required in performing the relevant audit procedures or evaluating the audit evidence gathering is more than limited Relate to decisions the external auditor makes in accordance with ISA 610 (Revised 2013) regarding the internal audit function and the use of its work or direct assistance Relate to work with which the internal auditors have been involved and which has already been or will be reported to management (or those charged with governance) by the internal audit function. This restriction intends to minimise self-review threats.

[@SiddharthAgarwalClasses]

Thank you for sharing.

[@Dynamicword1245]

You have calculated Eligible total capital funds comprising - 1. Tier 1 capital of Share capital 200 Crore. and disclosed Reserves 20 Crore. 2 Tier II capital of Other Reserves 30 Crore, and subordinated debt 20 Crore The Risk weighted assets constitute 25 Crore; while Off-balance sheet items are 5 Crore It seems you're calculating the Capital Adequacy Ratio (CAR) for a financial institution, likely a bank. To calculate CAR, we'll use the Basel III framework: *Tier 1 Capital (T1C)* 1. Share Capital: ₹200 Crore 2. Disclosed Reserves: ₹20 Crore Total T1C: ₹220 Crore *Tier 2 Capital (T2C)* 1. Other Reserves: ₹30 Crore 2. Subordinated Debt: ₹20 Crore Total T2C: ₹50 Crore *Total Capital (TC)* T1C + T2C: ₹220 Crore + ₹50 Crore = ₹270 Crore *Risk-Weighted Assets (RWA)* 1. On-balance sheet items: ₹25 Crore 2. Off-balance sheet items: ₹5 Crore Total RWA: ₹30 Crore *Capital Adequacy Ratio (CAR)* CAR = (Total Capital / Risk-Weighted Assets) × 100 = (₹270 Crore / ₹30 Crore) × 100 = 900%

[@rgv596]

RWA is typically higher than Tier 1 and Tier 2 capital combined, because regulations require banks to hold only a portion of capital relative to their RWA to cover potential losses.i think its pure mistake , sir can we expect grace marks fr this .

[@SiddharthAgarwalClasses]

I'm sure the examiners will take that into consideration.

[@55_krishnamittal88]

As per icai study material , CA M , HT institute vale ka clause 4 (1) (2) hoga . Pg no. 19.96

[@SiddharthAgarwalClasses]

Thank you for sharing.

[@eshgo456]

Q12 Answer should be D though concept is right but if u see last sentence clearly highlight that even though it found out such difference it deposited "leaving insignificant amount". Option A apply only if it duly calculated and paid pM due in next

[@anshikatiwari3842]

Sir all the papers of group 1 are above average 😢😢😢 i m praying for grace marks in audit

[@knoerom]

ICAI Module - Ethics Ch. - 1 Page 19.96 - (vi) (a) - accept the Auditorship of a college, if he is working as a part-time lecturer in the college. Sir, Can't we Assume that he may have taken the specific permission under regulation 190A from council to be a part-time teacher in a college other than of the Institute's?

[@SiddharthAgarwalClasses]

Thank you for sharing.

[@satyabrataparida2796]

Thank you so much Sir for such indepth discussion. I have answered 10/13 question correct, ignoring those 2 questions i.e DTL & CAR. And i got confused between rationalization and perceived opportunity, in that fraud risk question & finally choosen rationalization 😢.

[@SiddharthAgarwalClasses]

kzbin.info/www/bejne/pqTUiZmBapKrY6c Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.

[@ishugupta0959]

Feel sad 😢😢😢 only 6-7 mcqs right . Pata nahi kya hoga ab

[@SiddharthAgarwalClasses]

Still very good in such tough paper. 14 to 16 marks is good in MCQs

[@shankypatel9028]

Hi sir to the best of my knowledge tier I and tier II calculation is in NBFC and in given case it is bank and CRAR for bank is 9%

[@SiddharthAgarwalClasses]

Thank you for sharing.

[@kshitijagrawal9206]

Sir, transactions to be excluded from demand and time liabilities are given at 2 places. Section 42 of RBI Act and master circular on CRR and SLR dated 18/09/2009. I am not sure whether this circular still holds good but it is mentioned there that other demand and time liabilities includes net credit balance in branch adjustment account and interest accrued.

[@SiddharthAgarwalClasses]

kzbin.info/www/bejne/pqTUiZmBapKrY6c Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.

[@jignabhanushali8923]

Sir, Any plans to start DT Final for May 2025 Fast Track or Regular batch.

[@parthpatel2319]

I have only 2 paper pending Fr & audit If score in audit 35 and overall aggregate is done Is there any chance for pass ???

[@AUX2308]

Sir MCQ-8 PE wale ka Clause 4 hoga .....since we select that option which is more correct ....

[@sasidharimmadisetty4303]

13:30 MCQ 10 sir this is incorrect solution. as per SA 701, even if no KAM, auditor needs to communicate to TCWG. Answer to this question would be option "A". [Para A24 SA 260] an "uncorrected" misstatement is so called only after communication is made to TCWG and they do not correct it

[@SiddharthAgarwalClasses]

Thank you for sharing.

[@abhilashkumar4230]

20 marks sure as matching with sir...rest 2 mcq doubtful..I got 10.80% and DTL ₹19360...

[@SiddharthAgarwalClasses]

kzbin.info/www/bejne/pqTUiZmBapKrY6c Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.

[@nitishpandey8410]

Sir wo professional ethics me clause 4 of second schedule me guilty hona chahiye. It is written in your book in 5th box that the auditor cannot accept auditorship if he is working as a part time lecturer in college

[@SiddharthAgarwalClasses]

Thank you for sharing.

[@VidhyaGurukul]

in ques 8 of this booklet ICAI assumed ki specific permission le liye hai uske baad ye kaha se galat hai, i guess!!

[@Writersgram]

Question 8 answer should be part b, cannot accept as it violates cl 4 of part 1 of 2nd schedule. In question, ca m is already a CaiP. And he is further a visiting faculty. The particular mcq asks can such ca also become stat auditor of the college. A CAiP cannot become stat auditor of a college he is teaching in as per cl 4 of part 1 of second schedule. This is as per council guidelines for part time faculty (visiting faculty)

[@SiddharthAgarwalClasses]

Thank you for sharing.

[@sidhidrolia3701]

Sir in question 8 ( teaching faculty appointed as stat audit). Won't it be clause 4, because uska substantial interest hai institution mai?

[@finbaz5567]

Sir im getting 14 in mcqs.. I thought i will be scoring around 20 or something

[@SiddharthAgarwalClasses]

Don't worry, 14 is a good score!

[@nileshranjan8764]

Icai ke book me hai correct answer 18880 full explanation hai mai bana ke aaya hu icai ke book se padh tha

[@SiddharthAgarwalClasses]

kzbin.info/www/bejne/pqTUiZmBapKrY6c Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.

[@Raheesrahz]

Only 8 crct ( including clause 4 ques) One easy question missed by misreading incorrect as correct in the case of subsequent events 😢 One question wrong interpretation on decision i made i guess (decision of stat auditor and i thought like it means decision regers to guidance given by stat auditor to int auditor and doesnt count to imternal auditor taking decision to help stat auditor 😢

[@SiddharthAgarwalClasses]

It happens. Keep practicing for the next exam!

[@vishubudhiraja10]

MCQ ke ans change nh karne chaiye the...I was going correct on first read...

[@Ajaysharma12345]

Thanks Sir for devoting your valuable time, I am scoring 18 marks , with your blessing in this attempt I will become CA.

[@SiddharthAgarwalClasses]

Congratulations, you got this!

[@ashokkumarjanasena7396]

Bank me RWA + Off B/S item And in case of Nbfc only RWA come....i.e. 10.80 % is the correct answer.

[@mohangoyal5369]

Thank You sir for your SA Revision videos.. it helped immensely in today's exam.. and as expected my answers in SAs are matching yours since my thinking has been aligned with yours during course of study. I hope ICAI's suggested answers are consistent with these solutions. I also wish you'd have uploaded other chapters' revision videos in your channel since that could have helped me score much better. Nevertheless thank you for your efforts sir , you helped immensely. :)

[@SiddharthAgarwalClasses]

kzbin.info/www/bejne/pqTUiZmBapKrY6c Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.

[@tusharsondhi6046]

😢 mere sirf 5 hi thik hain..... Aur descriptive me mere bs 27 bn rhe hain.... Bhagwan ....😢

[@kushal_s]

I have marked MCQ in black ball pen for FR and AFM will they give marks for that?

[@TheMohitKejriwal]

Demand & Time liability shall be 18880, not 18790, only two things shall not exclude which is 1. Interest Accrued, 2. Net credit balance is baranch adjustment account.

[@SiddharthAgarwalClasses]

kzbin.info/www/bejne/pqTUiZmBapKrY6c Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.

[@sreelakshmi8174]

Sir.... Question of professional ethics.... Qstn has asked about statutory audit.. Not about other occupation... So answer is option B na??

[@karanshah16]

sir 8 ka answer option b aayegaa? coz in question "whether you can take up assignment as stat audit likha hai" Module PG 19.96 for which we can assume that lecturer toh vo phele se tha to permission le hi li hogi Please sir reply karna if aap dekho to

[@SiddharthAgarwalClasses]

Thank you for sharing.

[@mohitrathi9519]

Excellent explanation sir ..😊

[@vishalkumar7779]

Sir clause 4 hga usme pucha hai kya galat hga agr assignment accept krega kya

[@TheMohitKejriwal]

Sir PE mei maine bhi clause 11 likha hai.. mera galat ho jayga kya?

[@sandy_878]

In 14th mcq (iii) statutory auditor decision about internal auditor then he cannot take assistance but here only decision is mentioned

[@killerlook8458]

Sir crar q3 agar attempt kiya h toh marks milengwle kya as there is a mistake?

[@sukalyandas99]

Thank you for the discussion sir

[@PriyankaPrasad-sf6np]

Sir ek question tha jismh SRE ka preconditions likhna tha aur question mh SRE likha hua tha Meine shayad SRS likh diya but name , no. , aur content pura correct hai Kya pura galat ho jaega ?

[@SiddharthAgarwalClasses]

Step marking should be given

[@rahulagarwal4]

Sir, once you have shared a book on practical audit on your YT channel. Can you reshare the name of that book? Or link of that video I couldn't find that video

[@SiddharthAgarwalClasses]

Document your Audit. Khurshed pastakia

[@shankypatel9028]

Hi Also for DTL calculation Answer is 19360

[@SiddharthAgarwalClasses]

kzbin.info/www/bejne/pqTUiZmBapKrY6c Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.

[@ParthPatel_09]

Sir, how did you got this MCQ question paper, generally it is taken back?

[@SiddharthAgarwalClasses]

Nowadays they allow to take home.

[@andesyamsundar7617]

Sir only 16 marks scored seriously very sad 😢😭

[@SiddharthAgarwalClasses]

Don't worry, 16 marks are still good. Focus on the next exam.

[@supriosamanta934]

Thanks a lot sir. 8 correct

[@Mahi_888]

sir MCQ consume 45 mintue plus too much confused

[@SiddharthAgarwalClasses]

Don't worry. It's normal to feel confused.

[@shivamsaini2322]

Good analysis sir❤❤

[@RandomInsightsByCP]

Thank you so much sir...

[@Dikshant00007]

Thankyou Sir🎉🎉

[@Efunomics]

Sir i accidentally quoted SRE 4400 in place of sae 4400 toh full marks deduct honge kya?

[@subhamagarwal8990]

Sir whether clause 4 or 11 of mcq

[@SiddharthAgarwalClasses]

Clause 4

[@Profworldinfotainment]

sir mcq 8 me use padhane ka assignment nhi mila ha rather he get the assignment for stat audit then he can do sir option a

[@SiddharthAgarwalClasses]

Thank you for sharing.

[@mr.notsolazy8486]

I wrote incorrect clause number in PE question of 5 marks but content was correct will u get marks?

[@SiddharthAgarwalClasses]

Yes step marks

[@jyantbhardwaj5420]

Got 16 in mcq bass ab theory m aur pass hojae

[@ishitabansal1421]

Sir mere to 16 mks hue mcq ke feel very sad 20 plus ka target tha

[@SiddharthAgarwalClasses]

Don't worry, 16 marks are still good. Focus on next exam.

[@TheLegendaryCrew]

Just 6 correct answers.. Will be an Unsuccessful attempt..

[@SiddharthAgarwalClasses]

Don't worry, keep practicing and you will succeed.

[@RishiSingh-t9g]

Grace marking ki expectations hain sir?

[@SiddharthAgarwalClasses]

Yes

[@parthpatel2319]

Only 10 marks in mcq 😢😢

[@pratyushchaurasia8836]

Clause 4 hoga sir professional ethics k qusetion m

[@SiddharthAgarwalClasses]

Thank you for sharing.

[@anjalijain5938]

Sir please we are left with g2 also , Students may be in panic if mcq gone wrong... Please remove this , upload this on 13th nov Its no doubt useful but at the same time harmful for psychological peace untill g2 overs

[@SiddharthAgarwalClasses]

I understand your concern. I will upload it after the G2 exam.

[@soyelmondal047]

Clasue 11 wala answer May statutory audit pucha hai wo clause 4 of part 2 of 2nd schedule hoga na substantial interest Us clause may likha hai teacher, trusteee not allowed to take audit engagement

[@SiddharthAgarwalClasses]

Thank you for sharing.

[@vikalpjain2243]

Sir module m jab Substantial interest clause 4 padhte h toh usi ke aage theory m likha h ki auditor of college accept ni kr skta if he us part time lecturer (module 3 pg 19.96 ) ?? Please iska reply de dena sir

[@SiddharthAgarwalClasses]

Thank you for sharing.

[@gunjankr.jaiswal.485]

Thank you sir

[@punitgupta1228]

Bht hi tough the mcq sir 😢

[@zealous_lazy]

I am getting only 18 marks ..scared. 😢

[@SiddharthAgarwalClasses]

Don't worry, 18 marks are still good. Focus on next exam.

[@rasindalwai1197]

Hello sir. In ethics, i wrote clause (viii) instead of just 8. How many marks will they deduct?

[@SiddharthAgarwalClasses]

Not necessary

[@rasindalwai1197]

@SiddharthAgarwalClasses so you mean it isn't big of an issue, right?

[@wiz7937]

Sir number 8 toh B hai?

[@eswarmahesh105]

Question no 2 is CAR ratio is 10.8% Tier - 1 - Capital - 220/270 Tier 2 - 50/270 If you apply the weights for 10% and 15% then you will arrive to 10.80% That could be the answer for me.

[@SiddharthAgarwalClasses]

Thank you for sharing.

[@jainam1234]

20/30 is it good !?

[@SiddharthAgarwalClasses]

Very good in such tough paper

[@dineshchandra9399]

Sir audit me grace milegi kya😢?

[@SiddharthAgarwalClasses]

Let's hope so

[@adityakejriwal477]

Sir Demand and time liabilities (inclusion and exclusion)is from your book pg no.14A.21

[@SiddharthAgarwalClasses]

kzbin.info/www/bejne/pqTUiZmBapKrY6c Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.

[@the_abhisharma]

thank u sir

[@deepikasingh-vq2ye]

Not clause 11 kyuki usmai permission laikar icai ki kar sakta hai question mai specifically bola hai nhi kar sakta so clause 4 sir

[@SiddharthAgarwalClasses]

Thank you for sharing.

[@jaiprakash-sb9bz]

Thanku SIr

[@punitgupta1228]

16 aa rahe he mcq me sir exact

[@SiddharthAgarwalClasses]

Don't worry, 16 marks are still good. Focus on next exam.

[@Ayush-rr2sd]

Sir, Demand and time liabilities given in study mat, even all the mentions terms are given there

[@SiddharthAgarwalClasses]

kzbin.info/www/bejne/pqTUiZmBapKrY6c Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.

[@siddhantjain8763]

Que 3 was a waste of time

[@dipkumar2283]

I will get 26🎉🎉

[@poojaaggarwal5991]

Sir i am getting 10 only out if 30 😢

[@SiddharthAgarwalClasses]

Don't worry. Tough paper.

[@prabingiri9118]

I made 6 mistakes.

[@Mystryofdata]

Im getting 14 out of 30 as per your discussion. Feeling 😢

[@SiddharthAgarwalClasses]

It may be more. Icai answers are sometimes different

[@Aspirant_CharteredAcc]

16 marks ke shi hai😢

[@SiddharthAgarwalClasses]

Don't worry, 16 marks are still good. Focus on next exam.

[@rohanagarwala1921]

Mera 19075 aya tha DTL

[@SiddharthAgarwalClasses]

kzbin.info/www/bejne/pqTUiZmBapKrY6c Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.

[@Neerajfca]

❤❤

[@anuragmal2526]

18880 D option DTL

[@SiddharthAgarwalClasses]

kzbin.info/www/bejne/pqTUiZmBapKrY6c Demand & Time Liabilities MCQ covered in my Book page 14A.21. ANSWER 18880 CR. I taught in class also. If anything is there in ICAI material, then it must be there in my book.

[@vaibhavsoni256]

Clause 11 nahi clause 4 hoga

[@SiddharthAgarwalClasses]

Thank you for sharing.

[@prashuryagoswami6122]

18

[@sharma_harshit_07]

18 marks

[@ZoharaMayyadi-h1c]

Sir i scored 14 except wrong questions..if descriptive i have just given facts qnd conclusion .will i get passing marks

[@SiddharthAgarwalClasses]

Let's hope for the best

[@Mathialagan-h1z]

8/30 marks only

[@venkatalakshmi-t7d]

Sir i good 10 marks in mcqs but i wrote descriptive reasonable well should i get 40 marks in audit

[@SiddharthAgarwalClasses]

Yes you can

[@uvuv01]

Thankyou sir.

[@chaitanyachavan7964]

Thank you sir ❤❤

[@advarunathakkar2614]

Thanks a lot Sir