♦ Basics : Financial Statements, Users of Financial Information, Definition of Auditing, Objectives of Auditing – Primary and Secondary, Expression of Opinion, Detection of Frauds and Errors, Inherent Limitations of Audit.

♦ Errors and Frauds : Concepts, Reasons and Circumstances, Types of Errors – Commission, Omission, Principle and Compensating, Types of Frauds, Risk of Fraud and Error in Audit, Auditor’s Duties and Responsibilities in Respect of Fraud.

♦ Principles : Integrity, Objectivity, Independence, Confidentiality, Skills and Competence, Materiality and Work Performed by Others, Documentation, Planning, Audit Evidence, Accounting System and Internal Control, Audit Conclusions and Reporting.

♦ Types of Audits : Meaning, Advantages and Disadvantages of : Balance Sheet Audit, Interim Audit, Continuous Audit, Concurrent Audit, Annual Audit, Cost Audit, Green Audit, Gender Audit, Statutory Audit, Social Audit and CSR Audit.

♦ Audit Planning : Meaning, Objectives, Factors to be Considered, Sources of Obtaining Information, Discussions with Client, Overall Audit Plan.

♦ Audit Programme : Meaning, Factors to be Considered, Advantages, Disadvantages, Overcoming Disadvantages, Methods of Work, Instruction Before Commencing Works of Audit, Overall Audit Approach.

♦ Audit Working Papers : Meaning, Importance, Factors Determining Form and Contents, Main Functions / Importance, Features, Contents of Permanent Audit File, Temporary Audit File, Ownership, Custody, Access of Other Parties to Audit Working Papers, Auditors Lien on Working Papers, Auditors Lien on Client Books.

♦ Audit Notebook : Meaning, Structure, Contents, General Information, Current Information, and Importance.