Annexure ‘CD – 01’

COURSE CURRICULUM

L T P/S SW/FW No. of TOTAL

PSDA CREDIT
Course Title: Auditing UNITS
Credit Units: 3 3 0 0 0 0 3

Course Level: UG
Course Code: ACCT212
Course Objectives:
To understand objective and concepts of auditing and gain working knowledge of generally accepted auditing procedures, auditing Standards, and of skills and
techniques required to apply them in audit and solving simple case studies which will be complemented by the relevant provisions of Companies.
Act 2013.

Pre-requisites:
The students are expected to have a basic knowledge of company Law, financial accounting, working knowledge of various accounting standards followed
while preparing books of accounts.

Course Contents/Syllabus:
Weightage (%)
Module I Auditing Concepts 15
Descriptors/Topics

Meaning, Objectives, Nature and limitation of auditing, Classification and types of Audit, Preparation Before the
Commencement of New Audit, Audit Note Book and Audit Working Papers, Generally accepted Auditing principles and
techniques, Relationship of auditing with other disciplines. Audit for various organisations i.e. Banking, Manufacturing
and Service sectors. Introduction to Cost Audit, CSR Audit. Introduction to Standards of Audit, Auditing Assurance
Standards (AAS), Audit Planning; Audit of PPP’s.

Module II Internal Check, Internal Control and Internal Audit 15

Descriptors/Topics

Meaning and objects of internal check –-fundamental Principles-internal check as regards wages, cash sales, cash
purchases. Internal control-meaning definition; Internal Financial Control mechanism under new Companies Act 2013;
Evaluation of internal control procedures; techniques including questionnaire, flowchart; Internal audit – meaning-
importance – advantage and disadvantages; internal audit and external audit, coordination between the two.

Module III Verification

and valuation of assets and liabilities 20
Types of Frauds and Fraud Management
Descriptors/Topics

Bribery and corruption, Misappropriation of assets, Manipulation of financial statements, Procedure-related frauds,
Corporate espionage, Fraud in e-commerce. Fraud Prevention-Strategies; Fraud Detection-Symptoms of fraud; Fraud
Investigation- Inquiry methods, Fraud reports. Cases of fraud in Banking sector.
Forensic Accounting – brief introduction, importance, types, forensic accounting & fraud examination.
Bribery and Corruption – brief introduction, importance.

Module IV Audit Report & Company Auditor 20

Descriptors/Topics

Appointment, Qualifications, Disqualifications, Remuneration, Rotation and Removal of a Company Auditor, Rights,
Duties and Liabilities of an Auditor – Legal Provisions under the Companies Act and under the Decisions of Legal Cases.
Auditor Independence. Role of auditor in Verification and Valuation of assets.

Module V Audit Report 15

Descriptors/Topics

Meaning, Scope, Contents and Importance of Audit Report, Essentials of Good Audit Report, Types of Audit Report,
Audit Report and Audit Certificate, Consideration for making Qualification in Audit Reports, Specimen of Audit Reports.
Reporting requirements under Companies Act 2013; Role of Audit Committee. Audit Series 700
 Module VI Recent Trends & Developments 15
Descriptors/Topics
NFRA, Sample selection method (SA 530 Audit Sampling). Audit under Fiscal Laws: Audit under Fiscal Laws including
Documentation for Form 3CD etc. Basic considerations of audit in EDP Environment, Relevant Auditing and Assurance Standards
(AASs). Special aspects of Computerized Audit Environment- Systems Audit, Use of computers for internal audit purposes: Audit
tools, computerized audit programmes; Special Aspects in Audit of E-Commerce Transaction. Overview to Cyber Security & Data
Analytics.

Course Level Outcome (CLO)-

1 - To understand the objectives and concepts of auditing and working knowledge of generally accepted auditing procedures, auditing Standards.
2 - To understand the skills and techniques required and apply them in audit and solving simple case studies which will be complemented by the relevant provisions of
Companies Act 2013.

Pedagogy for Course Delivery:

The basic objective of the course is to equip the students with the understanding corporate tax laws in India. The course is covered by adopting a combination
of lecture methods, class presentation by groups of students, self- study sessions, Group Assignments, Case studies, Power point presentation will be taken up
to illustrate real life situations, to build their own analysis product and apply the product for preparation of audit report.

List of Professional Skill Development Activities (PSDA):

i. NIL

Lab/ Practicals details, if applicable:

List of Experiments:

NA

Assessment/ Examination Scheme:

 Theory L/T (%) Lab/Practical/Studio End Term
(%) Examination

50% NA 50%

Theory Assessment (L&T):

Continuous Assessment/Internal Assessment End Term
(50 %) Examination
(50%)
Components (Drop
down)
Mid-Term Project Viva Attendance
Exam
Linkage of PSDA NA
with Internal
Assessment
Component, if any
Weightage (%)

20% 20% 5% 5%

Lab/ Practical/ Studio Assessment:

Continuous Assessment/Internal Assessment End Term Examination

(____ %) (____ %)

Components (Drop down NA

Weightage (%)

Mapping Continuous Evaluation components/PSDA with CLOs

 Bloom’s Level > Understanding Applying
Course Learning CLO1 CLO2
Outcomes

Assessment type/
PSDA
Mid Term √
Project √
Home Assignment √ √
Viva √ √

Text Reading:
 Kamal Gupta, Contemporary Auditing, Tata Mc Graw Hill, New Delhi B.N Tandon , A Handbook of Practical Auditing, Sultan
Chand S.V.Ghatalia, Spicer & Peglar’s Practical Auditing, Allied Publishers.
 R.J. Thirauf, Management Auditing: A questionnaire approach, AMACOM Publication Compendium of Statements and
Standards — Accounting and Auditing A.K.Singh, Elements of Auditing, brijwasi books, Delhi.

References:
 Weirich, Thomas R, Accounting and Auditing Research :a practical guide, South Western Publication Tiwari A.C, Public Sector
Accounting and Auditing Standard, Excel Books.
 Parth Sarathi, Planning Auditing and developing human resources, Manak Publications.

Additional Reading:

NIL

Any other Study Material:

 Journals & Articles