Fundamentals of Auditing (Part B) (12 MONTH)
Instructor: CA N Raja
Validity Period: 365 days
welcome to course Fundamental of Audit
Are you an Accounting or Finance Professional?
Are you an Accounting or Finance Student planning a career in either of the fields?
Are you a Professional Course Student planning career as Auditor?
Then this course is for you.
The basic purpose of Auditing is to confirm the authenticity of Books of Accounts prepared by an accountant.
So, the auditing begins, where the function of an accountant ends.Auditing is done to determine the true and fair picture of accounts examining the books of accounts with supporting documents.
Auditing provides lots of benefits like Verification of Books of Accounts, Independent Opinion, Moral Check, Protection of the Rights and Interests of Share holders, Reliance by Outsiders, Ensures compliance with level requirements & Strengthens Internal Control.
Hence, by taking this course, you will learn
i) Evolution, Meaning, Features, Objectives, Principal aspects, Benefits and Limitations of Auditing
ii) Audit Process
iii) Audit Engagement Terms
iv) Audit Planning
v) Audit Sampling
vi) Audit Working Papers
vii) Auditors Independence
viii) External Confirmation
ix) Verification of Assets
x) Verification of Liabilities
xi) Special Audits covering Educational Institutions, Hospital, Cinema Halls, Charitable Institutions, Club, Hotels, Local Bodies, etc.)
This course is structured in Self paced learning style.
You may find accounting terminologies used in this course. Hence, you should have Basic knowledge of Accounting.
Advanced auditing tools and concepts will be launched as separate courses in the due course.
|Chapter 1 Introduction|
|Need for Auditing|
|Purpose of Auditing|
|Evolution of Auditing|
|Meaning of Auditing|
|Features of Auditing|
|Objectives of Auditing|
|Principal aspects of Auditing|
|Benefits of Auditing|
|Limitations of Auditing|
|Chapter 2 Audit Planning|
|Description of certain items in Audit Plan|
|Knowledge of Client's Business|
|Development of an Overall Audit Plan|
|Developing the Audit Program|
|Advantages and Disadvantages of Audit Program|
|How to conduct systematic audit?|
|Classification of Audit According to Time of Assurance|
|Overcome Limitations of Continuous Audit|
|Chapter 3 Audit Working Papers|
|Audit Working Papers|
|Working Paper Files|
|Audit Note Book|
|Advantages of Working Papers|
|Access of Working Papers by others|
|Audit Documentation SA 230|
|Chapter 4 Cost Audit|
|What is Cost Audit?|
|Applicability for maintenance of Cost Records|
|Maintenance of Cost Records|
|Applicability of Cost Audit|
|Who can be Cost Auditor?|
|Appointment of Cost Auditor|
|Removal of Cost Auditor|
|Casual Vacany of Cost Auditor|
|Remuneration of Cost Auditor|
|Submission of Cost Audit Report|
|Non Applicability of Cost Audit Rules|
|Penal provisions in case of Default in Cost Audit|
|Chapter 5 Company Audit|
|Introduction to Company Audit|
|Qualifications for being appointed as Auditor|
|Persons not eligible for being appointed as an Auditor|
|Appointment of First Auditors|
|Appointment of Subsequent Auditors Non Government Company|
|Appointment of Subsequent Auditors Government Company|
|Case 1 Eligibility for Appointment as Auditor of Company|
|Case 2 Shares held by relative and impact on Auditors Appointment|
|Case 3 Shares held by relative and impact on Auditors Appointment|
|Case 4 Shares held by relative and impact on Auditors Appointment|
|Is it possible to issue shares at discount?|
|Services prohibited for Auditors|
|Case on Disqualification of Auditor|
|Case - Auditor Disqualification after appointment|
|Rotation of Auditors - Class of Companies|
|Auditors term (period) of appointment|
|Chapter 6 Internal Audit|
|Internal Audit Function|
|What is Internal Audit and applicability of Internal Audit for Companies|
After successful purchase, this item would be added to your courses.
You can access your courses in the following ways :
- From Computer, you can access your courses after successful login
- For other devices, you can access your library using this web app through browser of your device.