Audit Practices

Paper Code: 
ATG 617
Credits: 
03
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

9.00
Unit I: 
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

Audit of Co-operative Societies

9.00
Unit II: 
Audit of Insurance Companies

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

Audit of Educational Institutions

9.00
Unit III: 
Audit of Governments Companies

Audit of Accounts of Private Concerns and Partnership Firms

9.00
Unit IV: 
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.

9.00
Unit V: 
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: 
  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)

 

Academic Year: 
2017-2018
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