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 |
• Auditing: Introduction, Meaning, Objectives
• Basic Principles and Techniques
• Classification of Audit, Audit Planning
• Internal Control – Internal Check and Internal Audit
• Audit Procedure – Vouching and Verification of Assets & Liabilities.
• Audit of Limited Companies: Company Auditor- Qualifications and disqualifications, Appointment, Rotation, Removal, Remuneration.
• 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.
• Cost audit and Management audit
• Recent Trends in Auditing: Basic considerations of audit in EDP Environment
• Computer aided Audit techniques and tools;
• Auditing Standards
• Relevant Case Studies
• Major Corporate Scandals in India.
• 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
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 [2] p6 cp1.pdf
• https://resource.cdn.icai.org/46525bosinter [3] p6 cp2.pdf
• https://resource.cdn.icai.org/46528bosinter [4] p6 cp5.pdf
• https://resource.cdn.icai.org/46534bosinter [5] p6 cp11.pdf
Reference Journals
• IUP Journal of Accounting Research
• Journal of Emerging Market Finance.
• IUP Journal Accounting Research and Audit Practices
Links:
[1] https://accountingtaxation.iisuniv.ac.in/courses/subjects/auditing-31
[2] https://resource.cdn.icai.org/46524bosinter
[3] https://resource.cdn.icai.org/46525bosinter
[4] https://resource.cdn.icai.org/46528bosinter
[5] https://resource.cdn.icai.org/46534bosinter
[6] https://accountingtaxation.iisuniv.ac.in/academic-year/2024-2025