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AUDITING [1]

Paper Code: 
CATG 513
Credits: 
4
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

Course Outcome(COs):

Course Outcome

 

Learning and teaching strategies

Assessment Strategies

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.

 

 

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
• BasicPrinciplesandTechniques
• ClassificationofAudit, Audit Planning
• Internal Control – Internal Check and Internal Audit

12.00
Unit II: 
Audit of Companies

• Audit Procedure –VouchingandVerificationofAssets&Liabilities.
• AuditofLimitedCompanies:CompanyAuditor-Qualificationsanddisqualifications,Appointment, Rotation, Removal, Remuneration.

12.00
Unit III: 
Auditors Report

• Auditor’s Report- ContentsandTypes.LiabilitiesofStatutoryAuditorsundertheCompaniesAct2013
• Rights & Duties of Auditors.
• Special Areas of Audit: Special features of Tax audit.

12.00
Unit IV: 
Recent Trends in Auditing

• CostauditandManagementaudit
• RecentTrendsinAuditing:BasicconsiderationsofauditinEDPEnvironment
• Computeraided Audit techniques andtools;

12.00

• AuditingStandards
• RelevantCaseStudies
• Major Corporate Scandalsin India.

Essential Readings: 

• 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)

References: 

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 [2]
• https://resource.cdn.icai.org/46525bosinter-p6-cp2.pdf [3]
• https://resource.cdn.icai.org/46528bosinter-p6-cp5.pdf [4]
• https://resource.cdn.icai.org/46534bosinter-p6-cp11.pdf [5]

REFERENCE JOURNALS:
• IUP Journal of Accounting Research
• Journal of Emerging Market Finance.
• IUP Journal Accounting Research and Audit Practices

Academic Year: 
2023-2024 [6]

Follow Accounting and Taxation on:

IIS (Deemed to be University)

Gurukul Marg, SFS, Mansarovar, Jaipur 302020, (Raj.) India Phone:- +91-141-2400160-61, 2397906-07, Fax: 2395494, 2781158

Source URL: https://accountingtaxation.iisuniv.ac.in/courses/subjects/auditing-29

Links:
[1] https://accountingtaxation.iisuniv.ac.in/courses/subjects/auditing-29
[2] https://resource.cdn.icai.org/46524bosinter-p6-cp1.pdf
[3] https://resource.cdn.icai.org/46525bosinter-p6-cp2.pdf
[4] https://resource.cdn.icai.org/46528bosinter-p6-cp5.pdf
[5] https://resource.cdn.icai.org/46534bosinter-p6-cp11.pdf
[6] https://accountingtaxation.iisuniv.ac.in/academic-year/2023-2024