AUDITING

Auditing:
• Meaning, Objects, Fraud, Errors,
• Book Keeping Accounting and Auditing,
• Classification of audits, Planning and procedure of audit,
• Audit Programmes; Auditors working papers, Test Checking and Routine Checking

: Internal Control and Internal Check System
• Meaning, Objectives and evaluation of internal control,
• Internal check and internal audit,
• Internal Control regarding sales, purchases,
• asset liabilities and salaries and wages.

Audit Procedure
• Meaning, Objective and Importance of Vouching,
• Vouching and Routing Checking, General Principle of Vouching,
• Vouching of different item of transactions,
• Verification and Valuation of Assets and Liabilities
• With special reference to Plant & Machinery, Building, Goodwill, Patent, Copy Right, Investment, Debtors, Inventories, Share Capital and Loans,
• Contingent Liabilities and Contingent Assets;
• Rules laid down in Kingston Cotton Mills Co Ltd, Irish Woolen Co Ltd

Audit of Joint Stock Companies:
• Appointment, removal and remuneration of company auditor,
• Audit of share capital, debentures and managerial remuneration,
• Audit for the purpose of statutory reports and prospectus
• Rights, duties and liabilities of an auditor laid down in London and General Bank Case, CIT v/s G.M Dandedkar, Anupam Roy v/s P.K Mukharjee

Divisible Profits and Dividends
• Divisible Profits and Dividends with legal provisions of Companies Act (With special reference to (depreciation) and relevant Case Laws
• Auditors Report: Definition, Distinction between Auditor’s Report and Auditor’ Certificate,
• Contents of Auditor’s Report, Classification (Clean, Qualified, Disclaimer