Choosing the Best Book for CA Final Advanced Auditing and Professional Ethics: Pankaj Garg or Aseem Trivedi

Introduction

Choosing the right book for CA Final Advanced Auditing and Professional Ethics can be a daunting task. Two popular choices are the books authored by Pankaj Garg and Aseem Trivedi. In this article, we will examine the experiences of one individual who has studied from Pankaj Garg's book and the reasons why he recommends it. We will also explore the broader context of why certain books are preferable for these subjects, particularly in the realm of auditing.

Personal Experience with Pankaj Garg's Book

Having studied audit from Pankaj Garg's book, the author achieved a score of 58 marks in the Audit paper. He emphasizes that the book is comprehensive and well-structured, providing detailed explanations of each topic. According to the author, other books often provide a point-to-point discussion that can be less effective for retaining information. The detailed approach of Pankaj Garg's book enables readers to understand and retain the material better, making it an ideal choice for those preparing for the CA Final Advanced Auditing and Professional Ethics examination.

Why Pankaj Garg Over Aseem Trivedi

The author personally suggests Pankaj Garg's book over Aseem Trivedi's. Despite briefly referring to CA Surabhi Bansal Mams' book, the author found it too point-to-point for effective studying. According to the author, one cannot rely solely on memorization for auditing, which is a complex and detail-oriented subject. Pankaj Garg's book is more convenient and aligns better with the author's learning style and the requirements of the examination.

Underlying Reasons for Book Similarity

One of the key reasons why books in this subject are often similar lies in the unchanging nature of core auditing standards and the regulations they are based on. The author lists several unalterable factors that make the books nearly identical, including the Company Act 2013, CARO 2015, listing agreements, tax audits, VAT audits, and professional ethics. The Chartered Accountants Act and the coverage of various types of financial institutions (bank audit, NBFC, mutual funds, insurance companies) are also consistent across books. Therefore, the choice of book ultimately comes down to personal preference and the author's ability to maintain interest and retain information effectively.

Key Recommendations for Effective Learning

Given the nature of the subject and the suggested books, the author emphasizes the following points for effective learning in CA Final Advanced Auditing and Professional Ethics: Thorough Understanding: Focus on understanding each topic in detail rather than just memorizing it. Practice and Notes: Use a practice manual specifically for audit and make your own notes in a separate copy. This method ensures better retention and understanding. Sustained Interest: Choose a book that keeps your interest alive and provides a balanced mix of theory and practical application. Consistent Practice: Regular practice is crucial for mastering the subject and performing well in the examination.

Conclusion

In conclusion, while there are several books available for CA Final Advanced Auditing and Professional Ethics, Pankaj Garg's book stands out for its detailed explanations and comprehensive coverage. The author's personal experience, along with the fact that other students find the books nearly identical, underscores the importance of selecting a book that aligns with your learning style and helps you stay engaged with the material. Whether you choose Pankaj Garg's book or another, remember that the key to success lies in thorough understanding, consistent practice, and making your own notes.

Frequently Asked Questions

Q: Why are the books on auditing and ethics similar?

The books are similar because the core regulations and standards in auditing and professional ethics are largely unchangeable. This includes the Company Act 2013, CARO 2015, listing agreements, tax audits, VAT audits, and professional ethics. While the coverage of different types of financial institutions may vary, the fundamental principles remain consistent.

Q: What are some tips for effective learning in CA Final Advanced Auditing and Professional Ethics?

The author recommends using a practice manual, making your own notes, and focusing on thorough understanding rather than mere memorization. Regular practice and keeping interest in the subject are also crucial.

Q: Can one change the standards on auditing?

No, the standards on auditing are well-established and unlikely to change significantly. Understanding and applying these standards consistently is key to success in the examination.