Inherent Limitations of Audit | SA 200 | CA Inter Audit | Ch. 1 Part 7 | May 25/ Sept 25/ Jan 26

This video covers Inherent Limitations of Audit. Due to it auditor cannot obtain absolute assurance, auditor can obtain only reasonable assurance. Auditor's objective is to obtain reasonable assurance due to inherent limitations of audit. The auditor is not expected to, and cannot, reduce audit risk to zero because of Inherent limitations of Audit. To download full notes of CA Inter Audit for Revision, click on the below link of Google Drive: https://drive.google.com/drive/folder... (It is to be noted that materials may be changed/ amended according to ICAI Material, Papers, RTPs and MTPs, hence, it is advisable to check the updated date of the document and previously downloaded document by you, if any.) Inherent Limitations of Audit includes : 01:30 Nature of financial reporting 06:34 Nature of audit procedures 12:06 Not in nature of investigation 12:34 Timeliness of financial reporting and decrease in relevance of information over time 14:33 Future events It is Part 7 of Chapter 1 - Nature, Objective and Scope of Audit of Paper 5 - Auditing and Ethics for CA Inter. It is based on ICAI Study Material (Modules). It is explained in detail for CA Inter May-2024 attempt onwards (May 25/ Sept 25/ Jan 26). It is relevant for ICAI New Scheme of Education and Training (New Course of CA Inter). It is helpful in understanding the concept and to remember as well. Follow on: LinkedIn:   / krupen-hathi-834772185   Instagram: https://instagram.com/krupenhathi?igs... Twitter (X): https://twitter.com/KrupenH?t=dWtg8G_... Facebook:   / krupen.hathi   Contact: [email protected] This video may be helpful, if you have any of the following question or learn the topic: What is inherent limitations of Audit Audit Inherent limitations Why auditor cannot obtain absolute assurance Why auditor expresses reasonable assurance Inherent Limitations of Audit Nature of Financial Reporting as Inherent Limitations Nature of Audit Procedures as Inherent Limitations Audit is not an investigation as Inherent limitations Timeliness of financial reporting and relevance of information over time as inherent limitations Future events as Inherent Limitations CA Inter Audit Inherent Limitations CA Inter Audit Ch. 1 - Inherent Limitations CA Inter Audit New Course Inherent Limitations ca inter audit sept 25 playlist ca inter audit jan 26 playlist ca inter audit may 25 playlist #inherentlimitationsofaudit #sa200 #inherentlimitations #reasonableassurance #absoluteassurance #auditrisk #cainterauditch1