COMPANY ACCOUNTS AND AUDITING PRACTICES-II

• Holding and Subsidiary Companies - Accounting Treatment, Disclosures and Consolidation of Accounts

• Valuation of Shares, Methods of Valuation, Price Earning Multiple Valuation,

Discounted Cash Flow (DCF) Method

• Valuation of Intangibles: Brand, Goodwill and IPRs

Liquidation of Company

• Preparation of Statement of Affairs including Deficiency /Surplus Account

• Various Requirements of Corporate Reporting

• Value Added Statements: Economic Value Added (EVA), Market Value Added ,

Shareholders’ Value Added

Accounting Standards

• Relevance and Significance

• National and International Accounting Standards and Authorities

• Adoption, Convergence and Interpretation of International Financial Reporting

Standards (IFRS) and Accounting Standards in India

• Forms of Audit - Propriety Audit, Compliance Audit and Efficiency Audit

• Nature, Scope and Techniques of Internal Audit; Functions and Responsibilities

of Internal Auditors; Organisational Status of Internal Auditing Function, Internal

Audit vis-à-vis Statutory Audit

Internal control

• Nature, Scope And Elements

• Internal Control distinguished from Internal Check and Internal Audit

• Techniques of Internal Control System, Flow Charts, Internal Control Questionnaires

• Steps for Internal Control and Audit Evaluation

• Audit Testing – Need For Sampling and Various Approaches to Statistical Sampling

• Inter-Firm and Intra-Firm Comparisons – Ratio And Trend Analysis; Audit In Depth

• Review of Purchasing Operations

• Review of Efficacy of Management Information System

• Review of Selling and Distribution Policies and Programmes

• Review of Manufacturing Operations

• Review of Personnel Policies

• Appraisal of Management Decisions

Audit Engagement and Documentation

• Audit Procedures: Audit Plan , Audit Programme, Vouching and Verification

• Documentation: Audit Working Papers and Files

• Sampling, Test Checking, Techniques of Test Checks