Course Outcomes
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Learning and teaching strategies |
Assessment Strategies |
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On completion of this course, the students will be able to: CO 165: Interpret the basic working knowledge of the Audit and its terminologies. CO 166: Explain the objectives of conducting audits of financial statements and its internal controls system. CO 167: Summarize the auditor’s responsibilities in Verification and Valuation of Assets and Liabilities. CO 168: Apply critical thinking skills and solve auditing problems with the help of real life case studies CO 169: Summarize the knowledge of distribution of dividend and Interpret the reports prepared by the auditors. |
Explanations, Discussion, Project work.
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Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual and group projects. |
• Meaning, Objects, Fraud, Errors,
• Book Keeping Accounting and Auditing,
• Classification of audits, Planning and procedure of audit,
• Audit Programmes; Auditors working papers, Test Checking and Routine Checking
• Meaning, Objectives and evaluation of internal control,
• Internal check and internal audit,
• Internal Control regarding sales, purchases,
• asset liabilities and salaries and wages.
• Meaning, Objective and Importance of Vouching,
• Vouching and Routing Checking, General Principle of Vouching,
• Vouching of different item of transactions,
• Verification and Valuation of Assets and Liabilities
• With special reference to Plant & Machinery, Building, Goodwill, Patent, Copy Right, Investment, Debtors, Inventories, Share Capital and Loans,
• Contingent Liabilities and Contingent Assets;
• Rules laid down in Kingston Cotton Mills Co Ltd, Irish Woolen Co Ltd
• Appointment, removal and remuneration of company auditor,
• Audit of share capital, debentures and managerial remuneration,
• Audit for the purpose of statutory reports and prospectus
• Rights, duties and liabilities of an auditor laid down in London and General Bank Case, CIT v/s G.M Dandedkar, Anupam Roy v/s P.K Mukharjee
• Divisible Profits and Dividends with legal provisions of Companies Act (With special reference to (depreciation) and relevant Case Laws
• Auditors Report: Definition, Distinction between Auditor’s Report and Auditor’ Certificate,
• Contents of Auditor’s Report, Classification (Clean, Qualified, Disclaimer)
• Jain, &KhandelwalAuditingShivam Publisher
• Jha, A. Students Guide to AuditingTaxmann
• Jain, Khandelwal,&PareekAuditing Ramesh Book Depot
• Singh , A.K. Auditing Theory & PracticeGalgotia Publishing Company New Delhi
• Gupta,K.Contemporary Auditing Tata Mc Graw Hill
• Sharma, S.D. Auditing Principle and PracticeTaxmann
• Sharma, T.R. Auditing Principles and ProblemsSahityaBhawan Agra
• Gupta &, Arora Fundamental of Auditing Tata Mc Graw Hill