Auditing

Paper Code: 
24DATG501B
Credits: 
04
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 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,

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.
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
Unit V: 
Practical Scenario of Audit
  • 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 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:

 

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: 
2024-2025
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