Risk Assessment & Internal Control | CA Final & Inter - Nov'24/May'25 Revision Video

[@ankushchirimar]

Buy Concept Book & Test Series - ankushchirimarclasses.com Dekho! Dekho wo aa gaya! 🤩 Here is my Revision Video for Audit on Risk Assessment & Internal Control ❤️ This video is for CA Final and CA Inter as well ❤️ Do share it with your friends! 😉 Iss baar Audit me Exemption paar 🔥 Hum CA Banenge ✨️ Bas duwaaon me yaad rakhna 😉 Telegram Channel Link for all Free Notes and Updates: t.me/ankushchirimar1 Whatapp Channel Link: whatsapp.com/channel/0029VajpMCr1iUxhbcHmYT3I CA Final Nov'24 Community: t.me/cafinalsnov24 Linkedin: www.linkedin.com/in/ankushchirimar? Instagram: instagram.com/ankushchirimar?igsh=enp1cmV1NjFhMm95

[@murlipunase7795]

Risk Assessment Audit risk 1:16 Audit Risk has 2 Components 3:35 Risks of particular concern to auditor include 7:30 Ex. of Audit Risk 10:20 Materiality & Audit Risk 12:13 Steps for Risk Identification 12:47 Indicators of Possible Potential Misstatements 14:40 Risk-based Audit Approach 15:56 Steps for Risk Based Audit 17:01 Risk Assessment Steps 17:27 Risk response - Matters to consider 19:00 Internal Control System (ICS) 21:38 When obtaining evidence about effective operation of IC, Auditor considers 23:05 Objectives of ICS for A/cing System are 23:49 Basic objectives of a/cing control system are 25:38 Limitations of IC 27:37 Structure of IC 31:01 • SOD 34:03 • Adequacy of Records & Docs 36:40 ICS comprises Administrative Control & A/cing Controls 38:00 1. Internal Check System (SOD) Objectives 38:45 Effectiveness of efficient system of internal check depends on following 40:55 General condition pertaining to internal check - 42:13 Components of IC 45:22 1. Control Environment - Elements 46:10 • Communication & enforcement of integrity & ethical values 47:40 2. Entity’s RAP 48:59 Risks can arise or change due to following 49:18 3. Control Activities 52:23 • Performance reviews 54:04 • Info processing 54:22 • Physical controls 55:26 4. Info System for FR & Communication 55:47 5. Monitoring of Controls 56:51 Review of ICS - Enables Auditor 57:20 Revision in Audit Programme is needed when 59:22 Techniques of evaluation of IC 1:00:38 1. Questionnaire 1:00:38 Basic assumptions about elements of good control in IC questionnaire are 1:01:46 2. Check List 1:04:14 E.g. of Check List 1:05:08 Diff b/w Questionnaire & Check list 1:06:02 3. Flow chart 1:07:00 Flow chart can provide neat picture of activities of dept involving flow of docs & activities. It shows 1:07:25 For drawing flow chart to incorporate narration, it is useful to know 1:09:14 Key components to assess & evaluate control environment /Standard Operating Procedures (SOPs) elements 1:10:10 Reporting to Client on IC Material Weaknesses 1:12:53 International IC Frameworks 1:15:16 COSO Framework 1:15:26 CoCo 1:18:35 COBIT 1:20:51 Sarbanes-Oxley Act - Section 404 (USA) 1:17:01 Guidance published by Institute of CAs in England & Wales 1:19:36

[@ankushchirimar]

Thank you ❤

[@Watsn7]

You dropped this, 👑 king! Amazing content as usual!

[@ankushchirimar]

Glad ❤Thank you ❤

[@mohammedhidayathulla]

Crux of Whole Chapter is SOD wow what a way of conceptual clarity bro it was never known we can easily connect every qns

[@ankushchirimar]

Glad ❤Thank you ❤

[@akshitbansal1839]

Sir ek request hai!! Please cover bank audit and audit of different types of entities from intermediate syllabus!! Ur teaching is outstanding .Cleared all my doubts. These chapters are a bit tricky and often come with high weightage. Thankyou

[@darshanaranka4851]

Best revision for such a lengthy chapter❤🙌🏻

[@ankushchirimar]

Thank you ❤

[@shreekaranl110]

Thank you so much... The best revision lecture. ❤ memory techniques bhi💥

[@ankushchirimar]

Bestttttt wishes ✨️

[@kv69maybe]

It was very good clear explanation good shortcuts but Icai has still not removed unwanted parts which is clearly byhearting things still icai things we are in stone age sab yaad rakhna padega

[@priyamagarwal8682]

Steps 12:42 Risk based audit approch 15:47

[@ajaymishra6800]

apka lecture dekhne aata hu to sbse phle like krta hu 😅 qki aisa lg jata hai ki baki chapter ki tarh ye bhi acha hi pdaya hoga 🤭 Thank you so Much sir

[@ankushchirimar]

Glad ❤Thank you ❤Bestttttt wishes ✨️

[@the.bharatwashi]

Thank you 100 Times ❤ Esa lg tha koi apna dost apna bhai pdha ra h🎉

[@ankushchirimar]

Glad ❤Thank you ❤Bestttttt wishes ✨️

[@sonaliyadav3551]

Thank you so much sir ❤your revision videos are best.

[@ankushchirimar]

Glad ❤Thank you ❤

[@Shivaraje22]

Clearly conceptual, Thank you sir

[@ankushchirimar]

Glad ❤Bestttttt wishes ✨️

[@rakeshgupta6966]

i must say this is helping me a lot, thank you sir. If possible would like to meet you one day. I am from Manipur

[@ankushchirimar]

Yesssssssssss ❤️ Thank you ❤Bestttttt wishes ✨️

[@raghavkataria6687]

best revision ever seen thanks a lot sir❤

[@ankushchirimar]

Glad ❤Thank you ❤

[@Maanveethhaa]

Hello sir Can you please tell how to study chapter 5 and chapter 9 of Audit..?

[@iprateek03]

Sir plzz made videos for Bank Audit, Other Audits, & Audit of FS items...

[@SureshKumar-ww6ib]

47:30 ek request jese tcwg and mgmt bola aapne uske sath participation and philosophy bhi bolo plz because only mgmt and tcwg key word nhi h sentence complete hona chahiye na it is just a request

[@ankushchirimar]

Yesssssssssss ❤️ Noted

[@shivamkalra3673]

Sir if possible please come up with nbfc revision❤ Or hanji iss baar audit m exemption paar✨❣️🥂

[@ankushchirimar]

Yesssssssssss ❤️ Bestttttt wishes ✨️

[@rajjayswal8375]

Was waiting for this video 😍

[@ankushchirimar]

Glad ❤

[@anushkajhunjhunwala4121]

Thanks sir your tricks are best 🥳🥳🥳🥳

[@ankushchirimar]

Thank you ❤Bestttttt wishes ✨️

[@cashaan1585]

15:55 Risk based Audit Approach.

[@Sultanmaker786]

Hello ankur bhaiya samajh mai sab aata hai magar kitni part yaad karna hota hai aur kitna part sirf samjh kar aage badhna hota hai wo kaise maloom kare

[@ankushchirimar]

Yaad toh sab kuchh hi rakhna h, ab jitna samajh ke yaad ho raha thik h, warna learn karo

[@mayuridhumal6051]

superb lecture

[@ankushchirimar]

Thank you ❤Bestttttt wishes ✨️

[@SureshKumar-ww6ib]

22:57 phle isme compliance with law and regulations bhi hota tha na

[@anusoni6789]

Hum ca banenge🎉❤

[@ankushchirimar]

Yesssssssssss ❤️ Bestttttt wishes ✨️

[@abhijeethabhi3920]

Listening it in 1× because of how much the video helping in retaining Not like completing for the sake of completing😂😂

[@ankushchirimar]

Haha Glad ❤

[@alokkumar5445]

Yes sir aapki memory techniques best hai

[@ankushchirimar]

Thank you ❤Bestttttt wishes ✨️

[@vishalsinghchundawat-w9r]

Exemption matlab exemption ❤

[@ankushchirimar]

Yesssssssssss ❤️ Bestttttt wishes ✨️

[@badebhaiyaclasses23]

Samyak RVG ka dost hu bhai ... Bhoat mehnnat ki h bhai apne you deserve it

[@ankushchirimar]

Thank you ❤

[@bhagatprajapati6587]

sir sas ke notes tho bna le pr chapter ke thi hand written notes provide kr do pls aab time nahi bnnne ka

[@ankushchirimar]

Genuine request, try to prepare them yourself and see the magic of retaining longer 😊❤️

[@Sultanmaker786]

Bhaiya chapter 3 poora complete hai kya answer de dijiye

[@ankushchirimar]

Yesssssssssss ❤️

[@anubhuti555]

Thankyou 🙏🏻

[@ankushchirimar]

Bestttttt wishes ✨️

[@asthakaushik4915]

Very nicely explained sir. Thank you so much. Sir can you create a playlist chapter wise - Like if we need to revise chapter wise like chapter 3 for ca final audit - we will refer this video then 330, 265 differently. It will be really helpful sir.

[@ankushchirimar]

Bahuttttt saari playlist ho jaayegi

[@asthakaushik4915]

@@ankushchirimar No issues sir. I was just suggesting. Thank you for your lectures ..they are very helpful

[@catalkswithgagan]

Need videos for audit of items of financial statements and audit of different types of entities . Pleaseeeeee

[@pavanwadhwani2907]

# Hum CA Banega

[@ankushchirimar]

Yesssssssssss ❤️ Bestttttt wishes ✨️

[@cajanakramyadav3645]

Thank you bro ❤

[@ankushchirimar]

Glad ❤Bestttttt wishes ✨️

[@ankushchirimar]

Glad ❤Bestttttt wishes ✨️

[@mohammedkaleem2819]

Hum apke notes exam me likh sakte hai ya ye sirf summary notes hai kya bhaiya

[@ankushchirimar]

Bilkul likh sakte h 😊♥️

[@AbrarahmadShaikh-zg9tg]

Best faculty for CA FINAL Audit

[@ankushchirimar]

Thank you ❤

[@darkknights7203]

sir mai ca inter ka hu agr mai apka sa's ka video dekho or yaad krlu to utna inter ka sa's ke liye sufficient hai na???

[@ankushchirimar]

Yesssssssssss ❤️

[@vickymarwal]

Thank you sir

[@ankushchirimar]

Glad ❤Bestttttt wishes ✨️

[@annu-ih3mv]

ky hmm inhe first time prep ke liyee refer kar sakte h

[@ankushchirimar]

Yesssssssssss ❤️

[@dollyagrawal4956]

How can i purchase ur concept book plz tell me

[@ankushchirimar]

Notes are in Process currently 😊❤️

[@dollyagrawal4956]

@@ankushchirimar ok sir

[@dollyagrawal4956]

​@@ankushchirimarSir ky aap bata sakte h kab tak available ho jayegi ... mujhe aapki book ek dum crisp and clear lagi or bahot accha presentation h aapki book ka plz jaldi available kar qa do

[@ankushchirimar]

In next few days 😉

[@ruchikasingh7482]

Bhaiya bhot acha smjhaya h❤ Pr bich bich me bhot ads ki vajah se disturb hota rehta h😢

[@ankushchirimar]

Thank you ❤

[@sanashahid4569]

If I study from this notes only. It will be enough for exemption correct?

[@ankushchirimar]

Don't worry, I have covered everything that is relevant to score 80 marks atleast, other topics are not that relevant 😊❤️

[@Shiv_Bhakt_1111]

Agar hum ye video or SA 300 series dekh le toh Inter ka Ch-3 complete ho jayega na bhaiya.. .plz plz reply. Execpt Automated environment topic​@@ankushchirimar

[@ankushchirimar]

@Shiv_Bhakt_1111 Yesssssssssss ❤️

[@Shiv_Bhakt_1111]

Bhaiya iss video m jo content h voh inter ke module se 😢 bhot alag h....

[@mohitrathi2746]

hum CA banege is baar

[@ankushchirimar]

Yesssssssssss ❤️ Bestttttt wishes ✨️

[@hasmukhtrivedi501]

Hum CA Banenge

[@ankushchirimar]

Yesssssssssss ❤️ Bestttttt wishes ✨️

[@impactcommerce]

hum ca banenge

[@ankushchirimar]

Yesssssssssss ❤️ Bestttttt wishes ✨️

[@caaspirant6603]

sir I'm still waiting for revision guidance

[@ankushchirimar]

Which guidance buddy?

[@caaspirant6603]

@@ankushchirimar how to revise audit in 1.5 days

[@vishalsinghchundawat-w9r]

​@@caaspirant6603 I am of opinion ki jitna yad karna hai woh exam se pehle karlo 1.5 din mein kuch nahi hoga

[@ankushchirimar]

Have already uploaded earlier

[@bhagatk9514]

CA Banenge

[@ankushchirimar]

Yesssssssssss ❤️ Bestttttt wishes ✨️

[@xyz-zl7hj]

bank audit bhi krwa dete sir ji 😋😋😋😋

[@ankushchirimar]

100% sab karwa diya h 😊♥️

[@SureshKumar-ww6ib]

1:16:00 mcq

[@krishnakk3192]

ham CA banege

[@ankushchirimar]

Yesssssssssss ❤️ Bestttttt wishes ✨️

[@meenalshroff91shroff37]

Hum ca banage

[@ankushchirimar]

Yesssssssssss ❤️ Bestttttt wishes ✨️

[@SureshKumar-ww6ib]

Imp 1:06:00

[@kv69maybe]

But is k sath bhi hum ca banege

[@SureshKumar-ww6ib]

Nice seen on 29 August 24

[@ankushchirimar]

Glad ❤

[@hasmukhtrivedi501]

Iss bar Audit me exemption parr

[@ankushchirimar]

Yesssssssssss ❤️ Bestttttt wishes ✨️

[@Idt-q4s]

Sir full note in pdf

[@ankushchirimar]

Telegram Channel ♥️

[@SureshKumar-ww6ib]

23:54

[@sharda6497]

Is baar audit paar 70 plus

[@ankushchirimar]

Yesssssssssss ❤️ Bestttttt wishes ✨️

[@sharda6497]

Hum ca banenge

[@ankushchirimar]

Yesssssssssss ❤️ Bestttttt wishes ✨️