Hi Guys!!
This blog shares my views and experiences on how answers
should be presented in examinations.It is very important to practice presentation. What follows is different types of
questions and how they can be answered:
1)
Direct
Theory questions
Direct theory questions are like Features
of Audit of cooperative society, Benefits of Continuous auditing, Limitations
of MIS, and Types of Bond in Excise etc.
In case of these questions to the point
direct answer should be given. Attempt must be made to make sure the bold
point of module (study material) matches with bold point of your answer.
Language of explanation may be different.
2) Short Note question
Though it may be covered in direct theory
question but I have taken it separately since it is definitely asked last
question in paper.
There is generally 4 mark for each short
note. The best 4-8 points must be written that you know about the topic
in such question.
3) Provisional Theory Questions
These questions are related to principles
laid down in various provisions of law or SAs and are asked in Law related
subjects such as Corporate Law, Auditing, DT and IDT. In case of such questions
correctly write down the principles of section and provisions asked in
question. Section numbers may be dealt with in manner provided in blog
Learning Sections.
4) Situational Theory Questions
Examples of this type are- You are
appointed as VAT auditor of XYZ Ltd. How will you proceed? These questions
though appear a case based but is actually a direct question asking VAT Audit
Procedure. Care should be taken in identifying such questions. Once
identified you can proceed as a direct theory question.
Another example of such question is- You
are the auditor of company and have identified related party transactions not
presented properly. How will you deal with same?
This question touches aspects of CARO, AS18
and SA 550. Now while attempting questions like this following approach should
be used in writing answer:
a)
In first part of answer write about AS 18, Caro
as well as SA550. - What is required under law?
(How much to write depend on marks of question)
b)
In second part write the scenario given in the
question- What has been done in given situation?
c)
In third part write what you as an auditor will
do?
5) Case study based question
These questions are asked mainly in
Indirect and Direct Taxation. One should thoroughly read case studies compiled
by ICAI as relevant for exams for these questions.
The answer to such questions should also be
in 3 parts:
a)
First part write down how the facts of question
case are similar to the real case decided.
b)
Second part explain the judgment given in real
case.
c)
In third part make conclusion for case asked in
question.
Note again that writing
principles narrated in judgment correctly is more important than writing the
name of parties involved in real case. If you confidently remember the name do
write but if you are doubtful don’t write the names. Better not writing than
writing a wrong name.
6) Practical Questions
In case of practical questions the answer
should be divided into 2 parts. One will be main solution and other will be working
notes. Main solution may proceed or it may succeed working notes but it must be
compact form- All working notes should be together and not in between
main solution.
Working notes are very important
while giving a practical answer and sometimes carry up to 40-50% of marks of
the question Never miss them.
Practical solution should as far as
possible be always in excel format or tabular format. This saves time as
well as makes it easier for examiner to evaluate.
Note: One must solve at least 4-5 past exam question
papers by hand in exam like situation and then the answers written should be
compared to suggested answer provided by ICAI. Such comparison will help you
find areas where you are lagging and need improvement.
Happy reading!!
