Audit of Financial Statements

4th Edition | Updated till 15th March 2025
By CA. Pranav Jain

A practical, risk-based audit manual tailored for Indian statutory audits. This guide walks professionals through the full audit lifecycle—from appointment to reporting—while integrating the latest regulatory updates and real-world examples.

👥 Ideal For

• CAs & Audit Firms handling corporate and non-corporate audits

• Finance Professionals managing audit oversight or reporting

• CA Students & Academics seeking an up-to-date, practice-driven reference

📘 Key Highlights

• 🎯 Risk-Based Audit Approach aligned with mandatory Standards on Auditing (SAs)

• 🧮 Practical Examples across inventory, receivables, and balance reconciliations

• 📜 Updated for CARO 2020, Audit Trail reporting, AQMM v2, and Schedule III disclosures

• 📂 Templates & Checklists for every major balance sheet/P&L item, incl. consolidated financials

• 🔎 Sample Audit Reports – Modified opinions, CARO reports, joint audits, and more

• 📈 NFRA & QRB Deficiencies explained, with guidance on compliance & audit quality improvement

• 📚 Covers audit of trusts, LLPs, and non-corporate entities as well

An essential handbook to strengthen audit quality, compliance, and professional skepticism in today’s evolving regulatory landscape.