Unit 1

Introduction: Definition, Scope and Objectives of Auditing; Basic Pinciples Governing an Audit; Audit Evidence; Audit Planning and Programming; Audit Sampling; Analytical Procedure; Introduction to Statements on Standard Auditing Practices.

Unit 2

Company Audit: Provisions of the Companies Act, 1956 as Regards Maintenance of Books of Accounts and Registers; Audit of Share Capital; Audit of Reserves and Surplus; Audit of Debentures; Audit of Public Deposits; Audit of Investment.

Unit 3

Cost Audit: Definition and Objectives; Cost Audit vis-à-vis Financial Audit; Advantages and Criticism
againstCost Audit; Cost Auditor – Qualifications and Appointment, Cost Audit Procedure – Material, Labour, Overheads, Depreciation, Work-in-progress and Stores and Spare Parts; Cost Audit Report.

Unit 4

Management Audit: Definition, Objectives, Need and Importance of Management Audit; Management Auditor – Qualifications and Appointment; Techniques of Management Audit; Management Audit Vs. Financial Audit; Audit of Management Functions – Production, Personnel, Finance and Accounts, Selling and Distribution, General Management and Management Information System; Management Audit Report.

Unit 5

Current Issues in Auditing: Audit of Members of Stock Exchange; Non-Banking Financial Company; Mutual Funds; Depositories; Environmental Audit; Quality Audit.

Course Objective:
This Course deals with the knowledge of advanced concepts in auditing and the procedure followed in India.

Course Outcomes:

Reference Books:

1. Jagdish Prakash – Auditing – Kalyani Publishers
2. B.N. Tandon – A Hand Book of Practical Auditing – Sultan Chand and Sons