Course Title: Auditing

Course Code: ACT 403

(An overview of the course)

Chapter 1: Introduction to Auditing

1. What is auditing
2. Features of auditing
3. Basic principles of governing on audit
4. Major aspect to be covered in auditing prime
5. Benefit or advantages of auditing/audit
6. Limitations of auditing/drawbacks of audit
7. What are the objectives of auditing
8. Types of errors
9. Types of fraud
10. Difference between auditing and investigation
11. Difference between auditing and accounting

Chapter 2: True and Fair view

1. What is true and fair view
2. In order to show true and fair view the auditor should ensure the followings
3. Types of audit
4. Methods of conduction of audit
5. Difference between continuous audit and periodical audit
6. Difference between continuous audit and interim audit

Chapter 3: Qualification, Disqualification, Rights and Duties of

Auditor
1. Qualification of an auditor
2. What are the disqualification of an auditor
3. Remuneration of an auditor
4. Duties of an auditor
5. Rights and power of an auditor
Chapter 4: Internal audit, Audit plan, Audit program and Audit
evidence
1. Definition of internal audit
2. The objectives of internal audit
3. Benefits of internal audit
4. Limitations of internal audit
5. Definition of audit plan
6. Features need to be consider when auditor doing audit plan
7. Definition of audit program
8. The difference between audit program and audit plan
9. Definition of audit evidence
10. Qualities of good audit evidence
11. Techniques of obtaining audit evidence
12. Working paper and its types

Chapter 5: Test checking and Sampling

1. Definition of test checking
2. In case of purchase
3. Features of test checking
4. Factors to be considered in case of test checking
5. Advantages of test checking
6. Disadvantages of test checking
7. Basic difference between test checking and routine checking
8. Definition of sampling
9. Methods of selecting sample
10. Considering factors in determining sample size, sampling risk

Chapter 6: Vouching
1. Definition of vouching
2. Objectives of vouching/voucher
3. Importance of vouching
4. Principles and techniques of vouching
5. Distinguish between vouching and routine checking
6. Vouching vs verification
7. How you will vouch remuneration paid to directors
8. Payment of acquisition of assets
9. Payment of income tax/provision of income tax
10. Salaries and wages
11. Advertising expenses
12. Features which increase gross profit
13. Features which decrease gross profit
Chapter 7: Auditing in an EDP environment
1. Definition of computerized auditing
2. Problem faced by auditor in EDP environment
3. There are 5 option of back up
4. The elements of EDP environment
5. Cyber-crime/ category of cyber crime
6. What are the motives of cyber crime
7. Control in EDP environment

Chapter 8: Audit report writing, Audit engagement and Other Audit

program
1. Definition of audit report and audit opinion
2. Types of opinion
3. Audit report sample
4. Draft advertisement for auditor
5. Draft application for the post of auditor
6. Draft letter of appointment as auditor
7. Draft letter of engagement
8. Draft of resignation letter