Accounting and Taxation
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Auditing [1]

Paper Code: 
25DATG601B
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: 

Course

Learning Outcomes (at Course Level)

Learning and

teaching strategies

Assessment Strategies

Course Code

Course Title

 

 

 

 

 

 

25DATG601B

 

 

 

 

 

 

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,

Discussion,

Tutorials,

Problem solving

sessions,

Presentations

Learning

activities

for the

students:

Self-learning

assignments, Case

Study analysis,

Presentations, Group

discussions

Continuous

Assessment Test,

Semester End

Examinations, Quiz,

Solving numerical

problems,

Assignments, Class

Presentations,

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.

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

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: 

Suggested Readings:

●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: 
2025-2026 [6]

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Source URL: https://accountingtaxation.iisuniv.ac.in/courses/subjects/auditing-33

Links:
[1] https://accountingtaxation.iisuniv.ac.in/courses/subjects/auditing-33
[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/2025-2026