Auditing and Taxation

Syllabus

AUDITING AND TAXATION

Unit I

Introduction to Auditing: Definition, Objective of Audit, Advantages and Limitation of Audit, Types of AUDIT - Basic Principles of Governing Audit. Vouching - Meaning and Significance.

Unit II

Company Audit: Meaning and Significance of Company Audit - Audit Programme- Audit Note Book - Working Papers- Commencement of New Audit.

Unit III

Verifications and valuation of Assets & liabilities: Qualifications, disqualifications appointment and removal of company auditor. Duties and rights of a company auditor Preparation of an audit report.

Unit IV

Direct and Indirect Taxes:  Features and History of Income Tax in India – Definitions and Basic Concepts of Income Tax: Assessee- Assessment Year – Previous Year – Person – Residential Status: Meaning of Residential Status – Conditions applicable to an Individual Assessee –Problems on computation of Total Income of an Individual based on Residential Status.

Unit V

Introduction to GST Act: Meaning and Definition of GST -Objectives of GST Regulatory Framework of GST-Scope of GST- Key Features and Benefits of GST- GST rates in India