Page 213 - DCOM509_ADVANCED_AUDITING

Advanced Auditing Pooja, Lovely Professional University

Notes Unit 12: Special Features of Audit

CONTENTS
Objectives
Introduction

12.1 Special Features of Audit of Public Sector Undertakings
12.1.1 Objective and Scope of Public Enterprises Audit
12.1.2 Comprehensive Audit of Public Enterprises
12.2 Audit of Banks
12.2.1 Procedure of Allotment of Bank Audit

12.2.2 Audit of Accounts
12.3 Audit of Non-Banking Financial Companies
12.3.1 Classification of NBFCs
12.3.2 Audit Procedure
12.4 Audit of Insurance Companies

12.4.1 Audit of Accounts
12.4.2 Audit Procedures
12.4.3 Audit Empanelment Requirements
12.5 Audit of Co-operative Societies
12.5.1 Brief Features of the Financial Provisions of the K.C.S. Act

12.5.2 Salient Features Concerning Accounts
12.5.3 Statutory Provisions relating to Co-operative Audit
12.6 Summary
12.7 Keywords
12.8 Review Questions

12.9 Further Readings

Objectives

After studying this unit, you will be able to:
 Discuss the special features of audit of public sector undertakings

 Understand Objective and Scope of Public Enterprises Audit
 Elaborate the process of auditing of banks
 Classify the non-banking financial companies and explain their audit procedure
 Explain the audit of insurance companies and audit empanelment requirements
 Discuss the audit of cooperative societies, their special features and special provisions
related to them

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