Description

Auditing

(Techniques of Auditing and Audit Procedures)

 

SYBAF Semester III

 

Syllabus

 

1. Vouching
1.1 Audit of Income
Revenue From Sales and Services, Rental Income, Interest & Dividends Income, Royalties Income, Recovery of Bad Debts written off, Commission Received
1.2 Audit of Expenditure
Purchases, Salaries & Wages, Rent, Insurance Premium, Telephone Expense, Petty Cash Payment, Advertisement, Travelling Salesmen’s Commission, Freight Carriage and Custom Duties

2. Verification
2.1 Audit of Assets
Plant & Machinery, Furniture and Fixtures, Accounts Receivable, Investments, Inventory, Goodwill, Patent Rights
2.2 Audit of Liabilities
Outstanding Expenses, Accounts Payable, Secured Loans, Unsecured Loans, Contingent Liabilities, Public Deposits

3. Auditing Standards
3.1 Meaning
Procedure of issuing Auditing Standards in India
Brief overview of Auditing Standards in India
Scope of SAs
Significance of the Auditing Standards
Responsibility of Auditor for Auditing Standards
3.2 Understanding of following Standards
SA 200, SA 210, SA 230, SA 240, SA 250, SA 300, SA 315, SA 320, SA 505

4. Audit of Companies
Qualifications, Disqualifications, Appointments, Reappointment, Removal of Auditors
Special Auditors
Branch Auditors
Rights and Duties of Company Auditors

Note : Relevant Law / Statute / Rules in force and relevant Standards in force on 1st April immediately preceding commencement of Academic Year is applicable for ensuing examination after relevant year.