AUDIT PRACTICES

Paper Code: 
ATG 617
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

The Objective of this course is to gain knowledge of auditing procedures and techniques and their applications

Audit of Different Institutions:
(a) Audit of Banks:
Legislation relevant to Audit of Banks, Internal Control Evaluation Auditor’s report, Special Audit, RBI Norms relating to Advances, Creation of Provision for Bad and Doubtful Advances, Income recognition, Long Form Audit Report
(b) Audit of Co-operative Societies

(c) Audit of Insurance Companies
Legislation relevant to Audit of Insurance Companies( Life Insurance and General Insurance), Review of Internal Control, Audit Report
(d) Audit of Educational Institutions

Audit of Governments Companies
Audit of Accounts of Private Concerns and Partnership Firms

Investigation: Meaning, objectives, procedure. Investigation on behalf of prospective purchaser of business, prospective lender and prospective investor. Investigation for valuation of shares, Investigation for reporting in prospectus. 09

Recent Trends in Auditing: Nature and Significance of Cost Audit, Tax Audit, Management Audit, Social Audit, Environment Audit, EDP Audit (Audit in Computerized environment), AS and SAP(Concepts, Objectives, Essential).

Essential Readings: 

1.Students Guide to Auditing: Aruna Jha(Taxmann)
2.Auditing: Jain, Khandelwal, Pareek(Ramesh Book Depot)
3. Fundamental of Auditing: Gupta & Arora(Tata Mc Graw Hill)
4. Auditing Theory & Practice: A.K Singh ( Galgotia Publishing Company New Delhi)

References: 

Reference Books
1. Auditing: Jain, Khandelwal(Shivam Publisher)
2. Contemporary Auditing: Kamal Gupta(Tata Mc-Graw Hill)
3. Auditing: Principle and Practice, S.D Sharma(Taxmann)
4. Auditing Principles and Problems: T.R Sharma (Sahitya Bhawan Agra)

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