Advanced Auditing, Assurance And Professional Ethics

Paper Code: 
24BCP613
Credits: 
03
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

This course will enable the students to acquire the ability to analyze current auditing practices and procedures and apply them in auditing engagements and the ability to solve cases relating to audit engagements.

Course Outcomes: 

Course

Learning outcome

(at course level)

Learning and teaching strategies

Assessment Strategies

Course Code

Course

Title

24BCP613

Advanced Auditing ,Assurance and Professional Ethics (Theory)

 

CO 1Interpret General Auditing Principles and Auditors Responsibilities and Evaluate Quality Control, Audit Planning, Strategy, and Execution Materiality, Risk Assessment and Internal Control.

CO 2Summarize Completion and review, Audit Evidence, Reporting and Specialized Areas.

CO 3Review of Financial Information and examine Audit-related Services, Prospective Financial Information and Other Assurance Services and Digital Auditing and Assurance.

CO 4Analyze Group Audits ,Special Features of Audit of Banks & Non-Banking Financial Companies and Overview of Audit of Public Sector Undertakings and Internal Audit

CO 5Examine Due Diligence, Investigation and Forensic Accounting and Emerging Areas: Sustainable Development Goals (SDG) & Environment, Social and Governance (ESG) Assurance etc. and learn Professional Ethics and Liabilities of Auditors.

CO 6Contribute effectively in course specific interaction.

Approach in teaching:

Interactive Lectures, Discussions, Tutorials, Problem solving sessions, Presentations

 

Learning activities for the students:
Self-learning assignments, Case Study Analysis, Presentations, Group Discussions

 

Continuous Assessment Test, Semester End Examinations, Quiz, Solving Assignments, Class Presentations, Individual and group projects.

 

9.00
Unit I: 
Standards on Auditing I

• Quality Control
• General Auditing Principles and Auditors Responsibilities
• Audit Planning, Strategy, and Execution
• Materiality, Risk Assessment and Internal Control

9.00
Unit II: 
Standards on Auditing II

• Audit Evidence
• Completion and Review
• Reporting
• Specialized Areas

9.00
Unit III: 
Standards on Auditing III

• Audit-related Services
• Review of Financial Information
• Prospective Financial Information and Other Assurance Services
• Digital Auditing and Assurance

9.00
Unit IV: 
Specialized Audits

• Group Audits
• Special Features of Audit of Banks & Non-Banking Financial Companies
• Overview of Audit of Public Sector Undertakings
• Internal Audit

9.00
Unit V: 
Professional Ethics and other rules

• Due Diligence, Investigation and Forensic Accounting
• Emerging Areas: Sustainable Development Goals (SDG) & Environment, Social and Governance (ESG) Assurance, etc.
• Professional Ethics and Liabilities of Auditors

Essential Readings: 

• Study Material Published by Institute of Chartered Accountants of India

References: 

SUGGESTED READINGS:
• Scanner-Arun Kumar (Suchitra Prakashan (P) Ltd)
• Contemporary Auditing Kamal Gupta-(Tata McGraw Book Co., New Delhi )
• Advanced Auditing and Investigation -Emile Woolf etal (McDonald & Evans, U.K.)
• Management Auditing: Questionnaires approach R.J. Thirauf AMACOM Publication.

E-RESOURCES:
• https://www.icai.org/post/final-nset

JOURNALS:
• The Chartered Accountant Journal /ICAI Student Journal

Academic Year: 
2024-2025
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