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SYLLABUS

                                                     Auditing Theory



            Objectives: The course is designed with an objective to enable students to understand the way auditing is conducted and put
            them in a position to identify the areas of fraud and errors in the accounts and take corrective actions while presenting the audit
            report.

              S. No.                                          Description
                1.    Origin of audit, definition, accountancy vs. auditing, objects of an audit, different classes of audit, location of
                      errors, generally accepted auditing practice, audit evidence, auditing in depth, accounting/auditing statements.
                2.    Audit function of an auditor, Integrity, Objectivity and independence of an auditor, section 226, section 314 and
                      code of ethics.
                3.    Audit planning, factors affecting audit planning, audit programming and quality control for audit
                4.    Considerations of laws and regulations in an audit of financial statements and audit procedures.
                5.    Internal control: Meaning, importance, internal check, internal audit, evaluation of internal control.
                6.    Vouching:   Meaning, substantial procedures and vouching of cash transactions and trading transactions. Audit
                      of Financial  statement: Audit of  income statement and  position statement in respect of  the depreciation,
                      valuation of inventory, share capital, reserve and surplus, current assets and liabilities, investment, fixed assets.
                7.    Appointment, right, duties and liabilities of an auditor.
                8.    Cost Audit: Meaning, procedures, CARO, MAOCARO, Management Audit-meaning, procedures and benefits.
                9.    Audit of banking companies, audit of cooperative banks and institutions, audit of general insurance business
                      companies, audit of partnership accounts and audit of government companies.
               10.    Auditing in an  EDP  Environment: Problems  in  an EDP Environment, control in an EDP Environment  and
                      computer assisted auditing techniques.
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