Auditing & Taxation- I

Unit No.

Unit Title

Contents

1

Introduction to Principles of Auditing and Audit Process

Definition, Nature-Objects-Advantages of Auditing-Types of Errors and Frauds Various Classes of Audit. Audit Programme, Audit Note Book, Working Papers, Internal Control-Internal Check-Internal Audit.

2

Checking, Vouching and Audit Report

Test Checking-Vouching of Cash Book-Verification and Valuation of Assets and Liabilities. Types of Audit Report-Audit Certificate-Difference between Audit Report and Audit Certificate. Auditing and Assurance Standards. (AAS- 1,2,3,4,5)

3

Company Audit and Tax Audit

Company Audit

Qualification, Disqualifications, Appointment, Removal, Rights, Duties and Liabilities of Company Auditor.

Tax Audit

Provisions under Income Tax Act 1961 (Sec 44AA, 44AB, 44AD, 44ADA, 44AE) Recent Amendment Made as Applicable as per Income Tax Act 1961.

4

Audit of Computerized Systems & Forensic Audit

Auditing in an EDP Environment

General EDP Control

– EDP Application Control

– Computer Assisted Audit Techniques (Factors and Preparation of CAAT)

Forensic Audit

Definition, Importance of Forensic Auditor, Services Render by Forensic Auditor, Process of Forensic Auditing and Forensic Audit Techniques and Forensic Audit Report.