AUDITING

Paper Code: 
DATG 501B
Credits: 
4
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

Course Outcome(COs):

Learning Outcome

 

Learning and teaching strategies

Assessment Strategies

CO 101: Interpret the basic working knowledge of the Audit and its terminologies.

CO 102: Explain the objectives of conducting audits of financial statements and its Balance Sheet.

CO 103: Summarize the auditor’s responsibilities in Verification and Valuation of Assets and Liabilities.

CO 104: Supply critical thinking skills and solve auditing problems with the help of real life case studies

CO 105: Summarize the knowledge Depreciation, Provision & Reserve & Interpret the reports prepared by the auditors.

Approach in teaching:

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
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.

12.00
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;

12.00

Auditing Standards
Relevant Case Studies
Major Corporate Scandals in India.

Essential Readings: 

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

References: 

SUGGESTED REFERENCE BOOKS:
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 RESOURCES:
https://resource.cdn.icai.org/46524bosinter p6 cp1.pdf
https://resource.cdn.icai.org/46525bosinter p6 cp2.pdf
https://resource.cdn.icai.org/46528bosinter p6 cp5.pdf
https://resource.cdn.icai.org/46534bosinter p6 cp11.pdf

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

Note : The candidate shall be permitted to use battery operated pocket calculator that should not have more than 12 digits, 6 functions and 2 memories and should be noiseless and cordless.

Academic Year: 
2023-2024
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