Audit Practices (Theory)

Paper Code: 
ATG 617 A
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

COURSE OUTCOMES (COs):

Course

Learning outcome

 (at course level)

Learning and teaching strategies

Assessment Strategies

Paper Code

Paper Title

ATG 617

Audit Practices

CO 1:Getting acquainted with basic of Audit of Banks & Audit of Co-operative Societies.

CO 2:Getting Acquainted with basic of  Audit of Insurance Companies & Audit of Educational Institutions

CO 3:3 Getting Acquainted with basic of. Audit    of Government Companies & Audit of Accounts of Private Concerns and Partnership Firms

CO 4:Understand the concept of Investigation and its procedure of Investigation and the difference between the Investigation and Audit.

CO 5:Knowledge of Recent trends in Auditing such as Cost Audit, Tax Audit, Management Audit, Social Audit, Environment Audit, EDP Audit.

 

Approach in teaching:

Explanations,

Discussion, Demonstration, Action Research, Project work.

 

Learning activities for the students:

Field activities, Presentation, Giving tasks

Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual and group projects.

 

 

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
  • (b) Audit of Co-operative Societies  
9.00
  • (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
9.00
Unit III: 
Audit of Government 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).
References: 
  • 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)
  • Auditing: Jain, Khandelwal(Shivam Publisher)
  • Contemporary Auditing: Kamal Gupta(Tata Mc-Graw Hill)
  • Auditing: Principle and Practice, S.D Sharma(Taxmann)
  • Auditing Principles and Problems: T.R Sharma (Sahitya Bhawan Agra)

 

 

Academic Year: 
2020-2021
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