Auditing

Paper Code: 
25CATG613
Credits: 
4
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

This course will enable the students to apprise the students with basic concepts of auditing and give an overview of various related aspects.

Course Outcomes: 

Course

Learning outcome

(at course level)

Learning and teaching strategies

Assessment Strategies

Course Code

Course title

25CATG613

Auditing (Theory)

 

CO205: Interpret the basic working knowledge of the Audit and its terminologies.

CO206: Compile the fundamental principles and techniques of auditing, focusing specifically on the vouching, audit of ltd companies and auditor’s qualifications.

CO207: Develop the skill to prepare the auditors report complying rights and duties along with certain aspects of tax audit

CO208: Identify and analyze recent trends in auditing, with a focus on emerging challenges, technological advancements, regulatory developments, and evolving audit methodologies.

CO209: Classify the framework of standards on auditing along with relevant case studies and certain scandals.

CO210: Contribute effectively in course-specific interaction

Approach

in

teaching:

Interactive

Lectures,

Discussion,

Tutorials,

Reading

assignments; Solving

Questions.

 

Learning

activities

for the

students:

Self-learning

assignments

, Effective

questions,

Seminar

Presentation.

Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, 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: 

● Auditing: Jain, Khandelwal (Shivam Publisher)
● Students Guide to Auditing: Aruna Jha (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)

References: 

● 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

Academic Year: 
2025-2026
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