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Auditing is, perhaps, one of the most practical-oriented subjects in the C.A. curriculum  This paper aims to provide knowledge of generally accepted auditing procedures and of techniques and skills needed to apply them in audit engagements. Good knowledge of the subject would provide a strong foundation for students while pursuing the Chartered Accountancy course. A good understanding of the theoretical concepts, particularly, in the context of auditing standards would make practical training an enriching and enjoying experience. While studying this paper, students are advised to integrate the knowledge acquired in other subjects, specifically, accounting and corporate laws in a meaningful manner. Such learning would only help a student to become a better professional.

SKU: AUDJS-01 Category:

MODULE -1

CHAPTER-1: NATURE, OBJECTIVE AND SCOPE OF AUDIT CHAPTER

discusses the basics of audit such as nature, scope, objectives, advantages, limitations etc. of an audit. Also, Audit Engagement Auditor’s Independence; Role of International Auditing and Assurance Standards Board (IAASB) & Auditing and Assurance Standards Board (AASB) have been discussed.

CHAPTER-2: AUDIT STRATEGY, AUDIT PLANNING AND AUDIT PROGRAMME CHAPTER

The chapter is devoted to Audit Strategy; Audit planning and Audit programme ;

CHAPTER-3: AUDIT DOCUMENTATION AND AUDIT EVIDENCE CHAPTER 

focusses on Audit Documentation; Audit evidence; Related Party Transactions, Written Representations, External Confirmations, Subsequent Events, Going Concern.

CHAPTER-4: RISK ASSESSMENT AND INTERNAL CONTROL CHAPTER

is devoted to Audit Risk, Identifying and Assessing the Risk of Material Misstatement, Risk Assessment procedures; Understanding the entity and its environment; Internal Control.

CHAPTER-5: FRAUD AND RESPONSIBILITIES OF THE AUDITOR IN THIS REGARD CHAPTER 

discusses the Responsibility for the Prevention and Detection of Fraud; Fraud Risk Factors; Risks of Material Misstatement Due to Fraud; Communication of Fraud.

CHAPTER-6 : AUDIT IN AN AUTOMATED ENVIRONMENT CHAPTER 

extensively deals with the Impact of IT related Risks, Impact on Controls, Internal Financial Controls, Audit approach, Understanding and documenting Automated environment, data analytics for audit.

CHAPTER-7: AUDIT SAMPLING CHAPTER 

discusses about Audit Sampling.

CHAPTER-8: ANALYTICAL PROCEDURES

deals with analytical procedures.

MODULE – 2

CHAPTER-9: AUDIT OF ITEMS OF FINANCIAL STATEMENTS 

is devoted to the Audit of Items of Financial Statements.

CHAPTER-10: THE COMPANY AUDIT

discusses the provisions of the Company Audit.

CHAPTER-11: AUDIT REPORT 

discusses about various aspects of Auditor’s Report.

CHAPTER-12: AUDIT OF BANKS 

deals with the Audit of Banks.

CHAPTER-13: AUDIT OF DIFFERENT TYPES OF ENTITIES

extensively deals with the Appointment of Auditor, Audit Procedure and Audit Report in respect of different Category of Entities.

 

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