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Instructor: CA N Raja
Language: English
Validity Period: 365 days
Validity Period: Lifetime
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.
Welcome to Basics of Auditing A Complete Study
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 | |||
2983.mp4 | |||
Purpose of Auditing | |||
2-Purpose-of-Auditing.mp4 | |||
Evolution of Auditing | |||
3-Evolution-of-Auditing.mp4 | |||
Meaning of Auditing | |||
4-Meaning-of-Auditing.mp4 | |||
Features of Auditing | |||
5-Features-of-Auditing.mp4 | |||
Objectives of Auditing | |||
6-Objective-of-Auditing.mp4 | |||
Principal aspects of Auditing | |||
7-Principal-aspects-of-Auditing.mp4 | |||
Benefits of Auditing | |||
8-Benefits-of-Auditing.mp4 | |||
Limitations of Auditing | |||
9-Limitations-of-Auditing.mp4 | |||
Defintion, Meaning and Features of Auditing | |||
5179- | |||
Nature of Auditing | |||
5180- | |||
Scope of Auditing | |||
5181- | |||
Relationship between Accounting and Audtiting | |||
5183- | |||
Difference between Accounting and Auditing | |||
5184- | |||
Difference between Audit and Investigation | |||
5214- | |||
Basic Principles governing an Audit | |||
5215- | |||
Significance of Audit | |||
5216- | |||
Comparison between External Audit and Internal Audit | |||
5223- | |||
Types of Audit | |||
Concept of True and Fair | |||
5225- | |||
Chapter 2 Audit Process | |||
Audit Process | |||
822 cfa822.mp4 | |||
Audit Process in three stages | |||
823 cfa823.mp4 | |||
Chapter 3 Agreeing Terms of Audit Engagement | |||
Acceptance of Audit Engagement | |||
824 cfa824.mp4 | |||
Agreement on Audit Engagement Terms | |||
825 cfa825.mp4 | |||
Changes in Audit Engagement Terms | |||
826 cfa826.mp4 | |||
Audit Report prescribed by Law or Regulation | |||
827 cfa827.mp4 | |||
Audit Engagement Letter | |||
828 cfa828.mp4 | |||
Audit Engagement Letter in case of Recurring Audit | |||
829 cfa829.mp4 | |||
Introduction to Audit Report | |||
5260- | |||
Basic elements of Audit Report - Part 1 | |||
5263- | |||
Basic elements of Audit Report - Part 2 | |||
5264- | |||
Chapter 4 Audit Planning | |||
Audit Planning | |||
830 cfa830.mp4 | |||
Description of certain items in Audit Plan | |||
831 cfa831.mp4 | |||
Knowledge of Client's Business | |||
832 cfa832.mp4 | |||
Development of an Overall Audit Plan | |||
833 cfa833.mp4 | |||
Developing the Audit Program | |||
834 cfa834.mp4 | |||
Advantages and Disadvantages of Audit Program | |||
835 cfa835.mp4 | |||
How to conduct systematic audit? | |||
836 cfa836.mp4 | |||
Classification of Audit According to Time of Assurance | |||
837 cfa837.mp4 | |||
Overcome Limitations of Continuous Audit | |||
838 cfa838.mp4 | |||
Chapter 5 Audit Sampling | |||
Basics of Test Checking or Sampling | |||
845 cfa845.mp4 | |||
Judgemental Sample | |||
846 cfa846.mp4 | |||
Statistical Sampling | |||
847 cfa847.mp4 | |||
Random Sampling and Systematic Sampling | |||
848 cfa848.mp4 | |||
Factors affecting size of Sample | |||
849 cfa849.mp4 | |||
Difference between Test Checking & Routine Checking | |||
850 cfa850.mp4 | |||
SA 530 Audit Sampling | |||
851 cfa851.mp4 | |||
Surprise Check | |||
852 cfa852.mp4 | |||
Chapter 6 Audit Working Papers | |||
Audit Working Papers | |||
839 cfa839.mp4 | |||
Working Paper Files | |||
840 cfa840.mp4 | |||
Audit Note Book | |||
841 cfa841.mp4 | |||
Advantages of Working Papers | |||
842 cfa842.mp4 | |||
Access of Working Papers by others | |||
843 cfa843.mp4 | |||
Audit Documentation SA 230 | |||
844 cfa844.mp4 | |||
Chapter 7 Auditors Independence | |||
Concept of Auditors Independence Part 1 | |||
240-CFA240.mp4 | |||
Concept of Auditors Independence Part 2 | |||
241-CFA241.mp4 | |||
Persons disqualified for Appointment as Auditor of Company as per Companies Act | |||
242-CFA242.mp4 | |||
Independence vis-à-vis Indebtedness of Auditor | |||
243-CFA243.mp4 | |||
Introduction to Audit Evidence | |||
244-CFA244.mp4 | |||
Introduction to Sufficiency and Appropriateness of Audit Evidence | |||
245-CFA245.mp4 | |||
Sufficiency of Audit Evidence | |||
246-CFA246.mp4 | |||
Appropriateness of Audit Evidence | |||
247-CFA247.mp4 | |||
Sources of Audit Evidence | |||
248-CFA248.mp4 | |||
Audit Procedures to obtain Audit Evidence | |||
249-CFA249.mp4 | |||
Risk Assessment and Nature and Timing of Audit Procedures | |||
250-CFA250.mp4 | |||
Audit Procedures to obtain Audit Evidence Detailed Explanation | |||
251-CFA251.mp4 | |||
Tests of Controls | |||
252-CFA252.mp4 | |||
Timing of Tests of Control | |||
253-CFA253.mp4 | |||
Using Audit Evidence obtained in Previous Audits | |||
254-CFA254.mp4 | |||
Evaluating the operating effectiveness of controls | |||
255-CFA255.mp4 | |||
Substantive Procedures | |||
256-CFA256.mp4 | |||
Chapter 8 External Confirmation | |||
What is External Confirmation? | |||
816 cfa816.mp4 | |||
Reliability of External Response | |||
817 cfa817.mp4 | |||
Positive and Negative Confirmation Request | |||
818 cfa818.mp4 | |||
No Response to Positive Confirmation | |||
819 cfa819.mp4 | |||
How to handle exceptions in Confirmation request? | |||
820 cfa820.mp4 | |||
Third party confirmation cases | |||
821 cfa821.mp4 | |||
Chapter 9 Vouching | |||
Vouching | |||
1-Vouching.mp4 | |||
General Consideration in Audit of Cash Transactions | |||
2-GCIAOCT.mp4 | |||
Chapter 10 Verification of Assets | |||
What is Verification in Audit Context? | |||
853 cfa853.mp4 | |||
Difference between Verification and Vouching | |||
854 cfa854.mp4 | |||
Objectives of Verification | |||
855 cfa855.mp4 | |||
Verification of Building | |||
856 cfa856.mp4 | |||
Verification of Freehold land | |||
857 cfa857.mp4 | |||
Verification of Leasehold Property | |||
858 cfa858.mp4 | |||
Verification of Plant and Machinery | |||
859 cfa859.mp4 | |||
Verification of Furniture and Fixture | |||
860 cfa860.mp4 | |||
Verification of Small Tools | |||
861 cfa861.mp4 | |||
Verification of Patents | |||
862 cfa862.mp4 | |||
Verification of Copy Right, Trade Mark and Goodwill | |||
863 cfa863.mp4 | |||
Verification of Debtors | |||
864 cfa864.mp4 | |||
Verfication of Cash at Bank and in Hand | |||
865 cfa865.mp4 | |||
Verification of Petty Cash | |||
866 cfa866.mp4 | |||
Verification of Inventories | |||
867 cfa867.mp4 | |||
Verification of Stocks Lying with Third Parties | |||
868 cfa868.mp4 | |||
Verification of Bills Receivables | |||
869 cfa869.mp4 | |||
Verification of Prepaid Expenses | |||
870 cfa870.mp4 | |||
Verification of Sinking Fund Policies | |||
871 cfa871.mp4 | |||
Capital Expenditure and Revenue Expenditure | |||
3-CERE.mp4 | |||
What is Depreciation | |||
4-WID.mp4 | |||
Purpose of Providing Depreciation | |||
5-POPD.mp4 | |||
Depreciation on Wasting Assets | |||
6-DOWA.mp4 | |||
Methods of Providing Depreciation | |||
7-MOPD.mp4 | |||
Factors to be considered in Selecting Depreciation Policy | |||
8-FTBCISDP.mp4 | |||
Chapter 11 Verification of Liabilities | |||
Verification of Loans and Borrowings | |||
872 cfa872.mp4 | |||
Verification of Trade Creditors | |||
873 cfa873.mp4 | |||
Verification of Contingent Liability | |||
874 cfa874.mp4 | |||
Verification of Bills Payable | |||
875 cfa875.mp4 | |||
Verification of Amount due to Subsidiary Companies | |||
876 cfa876.mp4 | |||
Verification of Outstanding Expenses | |||
877 cfa877.mp4 | |||
Chapter 12 Special Audits | |||
Audit of Educational Institutions | |||
878 cfa878.mp4 | |||
Audit of Hospital | |||
879 cfa879.mp4 | |||
Audit of Cinema Halls | |||
880 cfa880.mp4 | |||
Audit of Charitable Institutions | |||
881 cfa881.mp4 | |||
Audit of Club | |||
882 cfa882.mp4 | |||
Audit of Hotels | |||
883 cfa883.mp4 | |||
Audit of Local Bodies | |||
884 cfa884.mp4 | |||
Audit of Small Companies | |||
906 cfa906.mp4 | |||
Audit of Partnership Firm | |||
907 cfa907.mp4 | |||
Audit of Hire Purchase Company | |||
908 cfa908.mp4 | |||
Audit of Publishers | |||
909 cfa909.mp4 | |||
Audit of Incomplete Records | |||
910 cfa910.mp4 | |||
Audit of Leasing Companies | |||
911 cfa911.mp4 | |||
Audit of Non Governmental Organisations (NGOs) | |||
912 cfa912.mp4 | |||
Chapter 13 Cost Audit | |||
What is Cost Audit? | |||
2190.mp4 | |||
Applicability for maintenance of Cost Records | |||
2191.mp4 | |||
Maintenance of Cost Records | |||
2192.mp4 | |||
Applicability of Cost Audit | |||
2193.mp4 | |||
Who can be Cost Auditor? | |||
2194.mp4 | |||
Appointment of Cost Auditor | |||
2195.mp4 | |||
Removal of Cost Auditor | |||
2196.mp4 | |||
Casual Vacany of Cost Auditor | |||
2197.mp4 | |||
Remuneration of Cost Auditor | |||
2198.mp4 | |||
Submission of Cost Audit Report | |||
2199.mp4 | |||
Non Applicability of Cost Audit Rules | |||
2200.mp4 | |||
Penal provisions in case of Default in Cost Audit | |||
2201.mp4 | |||
Chapter 14 Company Audit | |||
Introduction to Company Audit | |||
2271.mp4 | |||
Qualifications for being appointed as Auditor | |||
2272.mp4 | |||
Persons not eligible for being appointed as an Auditor | |||
2273.mp4 | |||
Appointment of First Auditors | |||
2274.mp4 | |||
Appointment of Subsequent Auditors Non Government Company | |||
2275.mp4 | |||
Appointment of Subsequent Auditors Government Company | |||
2276.mp4 | |||
Case 1 Eligibility for Appointment as Auditor of Company | |||
2234.mp4 | |||
Case 2 Shares held by relative and impact on Auditors Appointment | |||
2235.mp4 | |||
Case 3 Shares held by relative and impact on Auditors Appointment | |||
2236.mp4 | |||
Case 4 Shares held by relative and impact on Auditors Appointment | |||
2237.mp4 | |||
Is it possible to issue shares at discount? | |||
2999.mp4 | |||
Services prohibited for Auditors | |||
3008.mp4 | |||
Case on Disqualification of Auditor | |||
3009.mp4 | |||
Case - Auditor Disqualification after appointment | |||
3010.mp4 | |||
Rotation of Auditors - Class of Companies | |||
3011.mp4 | |||
Auditors term (period) of appointment | |||
3012.mp4 | |||
Chapter 15 Fraud and responsibilities of Auditor | |||
What is Fraud? | |||
2988.mp4 | |||
Characteristics of Fraud | |||
2989.mp4 | |||
How Fraudulent Financial Reporting is accomplisehd? | |||
3088.mp4 | |||
How Management overrides Controls? | |||
3089.mp4 | |||
Why Management / Employees commit Fraud? | |||
3090.mp4 | |||
What and how of Misappropriation of Assets? | |||
3091.mp4 | |||
How defalcation of cash is attempted? | |||
3101.mp4 | |||
Circumstances indicating possibilities of Fraud | |||
3102.mp4 | |||
Reporting of Fraud to Central Government by Audtior | |||
3103.mp4 | |||
Reporting of Fraud to Audit Committee or Board | |||
3104.mp4 | |||
Chapter 16 Internal Control System | |||
What is Internal Control System | |||
2990.mp4 | |||
Scope of Internal Control System | |||
2991.mp4 | |||
Objectives of Internal Control System | |||
2992.mp4 | |||
What is Control Environment? | |||
2993.mp4 | |||
Limitations of Internal Control System | |||
2994.mp4 | |||
What is Control Risk? | |||
2995.mp4 | |||
Audit Risk | |||
5259- | |||
Internal Check | |||
5273- | |||
Auditors Duty with regard to Internal Control System - Part 1 | |||
5274- | |||
Auditors Duty with regard to Internal Control System - Part 2 | |||
5275- | |||
Internal Control Questionnaire - Part 1 | |||
5276- | |||
Internal Control Questionnaire - Part 2 | |||
5277- | |||
Difference between Checklist and Internal Control Questionnaire | |||
5278- | |||
Difference between Internal Audit, Internal Control & Internal Check | |||
5279- | |||
Chapter 17 Internal Audit | |||
Internal Audit Function | |||
2982.mp4 | |||
What is Internal Audit and applicability of Internal Audit for Companies | |||
2981.mp4 |
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