Auditing

Paper Code: 
24DATG501B
Credits: 
4
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

This course will enable the students to apprise with basic concepts of Auditing & give an overview of various related aspects

Course Outcomes (COs):

Course

Learning Outcomes (at Course Level)

Learning and teaching strategies

Assessment Strategies

Course Code

Course Title

 

 

 

 

 

 

 

 

 

24DATG501B

 

 

 

 

 

 

 

 

 

Auditing

(Theory)

CO121: Interpret the basic working knowledge of the Audit and its terminologies.

CO122: Compile the fundamental principles and techniques of auditing, focusing specifically on the vouching, audit of ltd companies and auditor’s qualifications.

CO123: Develop the skill to prepare the auditor’s report complying rights and duties along with

certain aspects of tax audit

CO124: Identify and analyze recent trends in auditing, with a focus on emerging challenges, technological advancements, regulatory developments, and evolving audit methodologies.

CO125:. Classify the framework of standards on auditing along with relevant case studies and certain scandals. 

CO126: Contribute effectively in course-specific interaction 

Approach in

teaching: Interactive Lectures, Tutorials, Class discussions

 

Learning

activities for the

students: Assignments, application based questions, case studies and group discussions

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

 

 

12.00
Unit I: 
Introduction:

• Auditing: Introduction, Meaning, Objectives
• Basic Principles and Techniques
• Classification of Audit, Audit Planning
• Internal Control – Internal Check and Internal Audit

12.00
Unit II: 
Audit of Companies:

• Audit Procedure – Vouching and Verification of Assets & Liabilities.
• Audit of Limited Companies: Company Auditor- Qualifications and disqualifications, Appointment, Rotation, Removal, Remuneration.

12.00
Unit III: 
Auditors Report :

• Auditor’s Report- Contents and Types. Liabilities of Statutory Auditors under the Companies Act 2013
• Rights & Duties of Auditors.
• Special Areas of Audit: Special features of Tax audit.

12.00
Unit IV: 
Recent Trends in Auditing :

• Cost audit and Management audit
• Recent Trends in Auditing: Basic considerations of audit in EDP Environment
• Computer aided Audit techniques and tools;

12.00
Unit V: 
Practical Scenario of Audit:

• Auditing Standards
• Relevant Case Studies
• Major Corporate Scandals in India.

Essential Readings: 

• 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

References: 

Suggested Readings:
• Sharma, S.D. Auditing Principle and PracticeTaxmann
• Sharma, T.R. Auditing Principles and ProblemsSahityaBhawan Agra
• Gupta &, Arora Fundamental of Auditing Tata Mc Graw Hill

e-Content:
• 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

Academic Year: 
2024-2025
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