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AUDITING
Course Outcome(COs):
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Course Outcome
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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: CO131:Interpret the basic working knowledge of the Audit and its terminologies. CO132:Explain the objectives of conducting audits of financial statements and its Balance Sheet. CO133:Summarize the auditor’s responsibilities in Verification and Valuation of Assets and Liabilities. CO134:Apply critical thinking skills and solve auditing problems with the help of real life case studies CO135:Summarize the knowledge Depreciation, Provision & Reserve & 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. |
• Auditing:Introduction,Meaning,Objectives
• BasicPrinciplesandTechniques
• ClassificationofAudit, Audit Planning
• Internal Control – Internal Check and Internal Audit
• Audit Procedure –VouchingandVerificationofAssets&Liabilities.
• AuditofLimitedCompanies:CompanyAuditor-Qualificationsanddisqualifications,Appointment, Rotation, Removal, Remuneration.
• Auditor’s Report- ContentsandTypes.LiabilitiesofStatutoryAuditorsundertheCompaniesAct2013
• Rights & Duties of Auditors.
• Special Areas of Audit: Special features of Tax audit.
• CostauditandManagementaudit
• RecentTrendsinAuditing:BasicconsiderationsofauditinEDPEnvironment
• Computeraided Audit techniques andtools;
• AuditingStandards
• RelevantCaseStudies
• Major Corporate Scandalsin India.
• Auditing: Jain, Khandelwal(Shivam Publisher)
• Students Guide to Auditing: ArunaJha(Taxmann)
• Auditing: Jain, Khandelwal, Pareek(Ramesh Book Depot)
• Auditing Theory & Practice: A.K Singh ( Galgotia Publishing Company New Delhi)
• Contemporary Auditing: Kamal Gupta (Tata Mc-Graw Hill)
SUGGESTED REFERENCE BOOKS:
• Auditing: Principle and Practice, S.D Sharma(Taxmann)
• Auditing Principles and Problems: T.R Sharma (Sahitya Bhawan Agra)
• Practical Auditing: Spicer& Pegler
• Fundamental of Auditing: Gupta &Arora(Tata Mc Graw Hill)
e- RESOURCES:
• https://resource.cdn.icai.org/46524bosinter-p6-cp1.pdf
• https://resource.cdn.icai.org/46525bosinter-p6-cp2.pdf
• https://resource.cdn.icai.org/46528bosinter-p6-cp5.pdf
• https://resource.cdn.icai.org/46534bosinter-p6-cp11.pdf
REFERENCE JOURNALS:
• IUP Journal of Accounting Research
• Journal of Emerging Market Finance.
• IUP Journal Accounting Research and Audit Practices
