TABLE OF CONTENTS

Particulars Page No.

Letter of transmittal I.

Declaration II.

Certificate of Approval III.

Certificate IV.

Acknowledgement V.

Executive Summary VI.

Chapter -1 Introduction
1.1 Introduction 1

1.2 Origin of the Report 1

1.3 Objectives of the Study 2

1.4 Scope of Study 2

1.5 Methodology of Collection of Information 2-3

1.6 Limitations of the Study 3

Chapter-2 ACNABIN Profile Overview

2.1 Profile of the Firm 4

2.2 Specialization of ACNABIN 4-5

2.3 Services Provided by Firm 5-7

2.4 Associations & Membership 7

2.5 Membership 8

Chapter-3 Conceptual Framework

3.1 Definition of Auditing 9-10

3.2 Distinction Between Auditing and Accounting 10-11

3.3 Types of Audits 11-13

3.4 AICPA Generally Accepted Auditing Standards 13-15

3.5 Professional Conduct 15-16

3.6 Audit Risks 16-17

3.7 Audit Evidence 17

Chapter-4 Audit Procedures Followed by ACNABIN
4.1 Engagement Procedures 18-19

4.2 Audit Procedures Followed By ACNABIN 19-21

4.2.1 Identify Firm’s Overall Goals 21-23

4.2.2 Gather & Evaluate Initial Information 23-24

4.2.3 Assess General Risks 25

4.2.4 Account-Specific Risk Analysis 25

4.2.4.1 Audit Risks 25

4.2.4.2 Consideration of Fraud and Error 25

4.2.4.3 Inquiries of Management 26

4.2.4.4 Assessment of Inherent Risk and Control Risk 26

4.2.4.5 Assessment of Detection Risk 26

4.2.4.6 Documentation 26

4.2.4.7 Management Representations 27

4.2.4.8Communication 27

4.2.5 Development of Effective and Efficient Audit Plan 27

4.2.6 Conduct Audit Testing 28

4.2.6.1Test Of Controls 28

4.2.6.2 Substantive Tests 28-29

4.2.7 Evaluate and Communicate Audit Results 30-31

4.3 Auditor’s Report 31-33

Chapter-5 Internship Experience

5.1 General banking Audit procedure 34-37

5.2 Demo of management letter 38-39

5.3 Findings 40

Chapter-6 Conclusion & Recommendations

41
6.1 Conclusion
41-42
6.2 Recommendations
43-44
Bibliography