ACC202 Auditing Theory And Practice 14797::Manu Kalia 3.0 1.0 0.0 4.0 Courses with conceptual focus

Lovely Professional University, Punjab Course Code

Course Title

Course Planner

Lectures

ACC202

AUDITING THEORY AND PRACTICE

14797::Manu Kalia

Course Category

Courses with conceptual focus

Tutorials Practicals Credits

3 .0

1.0

TextBooks Sr No

Title

Author

T-1

A Handbook of Practical Auditing

Edition

Year

Publisher Name

B.N 14th Tandon,S.Sudharshanam,S. Sundharabahu

2012

S Chand & Company Ltd.(1970),New Delhi.

Reference Books Sr No

Title

Author

Edition

Year

Publisher Name

R-1

Auditing Principles and Practice

Sharma, S.D

3rd

2012

Taxmann Publishers

Other Reading Sr No

Jour Journa nals ls arti articl cles es as Comp Compul ulsa sary ry read readin ing g (sp (spec ecif ific ic arti articl cles es,, com compl plet etee refe refere renc nce) e)

OR-1 OR-1

The The role role of mand mandat ator ory y cost cost audi auditt in enha enhanc ncin ing g trus trust: t: the the cas casee of of Ind India ia (http://search.proquest.com/pqcentral/docview/211333189/fulltextPDF/13F8445 (http://search.proquest.com/pqcentral/docview/211333189 /fulltextPDF/13F844582387E3AA694/1?accoun 82387E3AA694/1?accountid=80692 tid=80692 ,

OR-2

The status of EDP Auditing ,

OR-3

Artic le le on on statutory audit of a cc ccounts of co company ,

OR-4 OR-4

Art Articl icle on on RBI RBI to con conduct uct man manag agem emen entt au audit dit of of for forei eig gn ban banks ks ,

OR-5 OR-5

Art Articl icle on on Pu Purpo rposes ses and and lim limitat itatio ions ns of a Bal Balan ance ce shee sheett au audit dit ,

OR-6 OR-6

Art Articl icle on on Int Intern ernal audi audit: t:Ha Harrness nessiing its full full poten otenti tial al ,

OR-7

Study material on Special audit ,

OR-8

Special Audit ,

OR-9 OR-9

Audi Auditi ting ng Prin Princi cipl ples es & Tec Techn hniq ique uess by by S.K S.K.. Bas Basu, u, 2007 2007,, Pea Pears rson on Educ Educat atio ion n,

OR-10

Article on Balance sheet audit ,

OR-11

CARO MACARO RULES ,

Relevant Websites Sr No

(Web address) (only if relevant to the course)

Salient Features

RW-1 RW-1

http http:/ ://a /acc ccou ount ntle lear arni ning ng.b .blo logs gspo pot. t.in in/2 /201 012/ 2/02 02/d /dif iffe fere renc nceses-be betw tween een-v -ver erif ific icat atio ionn-an and. d.ht html ml

Diff Differ eren ence ce between between verif verific icat atio ion n and and vouc vouchi hing ng

RW-2

www.icai.org

Contemporary information on auditing

RW 3

htt //

iki

di

/ iki/R

l M il C

R

l M il C

0.0

4.0

Trusted by over 1 million members

Try Scribd FREE for 30 days to access over 125 million titles without ads or interruptions! Start Free Trial Cancel Anytime.





RW-4

http://www.ntpc.co.in/annualreports/2008-09/Auditors_Report09.pdf

Audit report of NTPC

LTP week distribution: (LTP Weeks) Weeks before MTE

7

Weeks After MTE

7

Spill Over

3

Detailed Plan For Lectures Week Number

Lecture Number

Broad Topic(Sub Topic)

Week 1

Lecture 1

An In Introduction to to Au Auditing (Definition of Audit, Difference between Auditing and Accountancy)

T-1:Chapter 1

An Introduction to Auditing(Scope of Auditing)

T-1:Chapter 1 R-1:Chapter 1

An Introduction to Auditing (Objectives of Auditing) Lect Lectur uree 2

Chapters/Sections of Text/reference Text/reference books

Other Readings, Relevant Websites, Audio Visual Aids, software and Virtual Labs

Lect Lectur uree Desc Descri ript ptio ion n

Lear Learni ning ng Outc Outcom omes es

Conceptual Fr Framework Develop the skill of of auditing, Auditing vs determining and Accounting udging the reliability of financial statements RW-2

Peda Pedago gogi gica call Too Tooll Demonstration/ Case Study / Images / animation / ppt etc. Planned Discussion

Areas covered in the branch of auditing

Identifying the area Discussion covered by auditing as a process

T-1:Chapter 1 R-1:Chapter 1

Purpose of auditing as a field of investigation

Identifying the objectives of auditing

An Intr Introd oduc ucti tion on to Audi Auditi ting ng (Features and Classification)

T-1:Chapter 1

Features of auditing and Illustrate various types types of audits of audits with the help of examples

Discussion

An Introduction to Auditing (Meaning of Internal Check)

T-1:Chapter 14

Meaning of Internal check

class discussion

Identifying the internal check process

Discussion





Wee k 2

Lecture 4

Lect Lectur uree 5

Lect Lectur uree 6

An Introduction to Auditing(Audit working papers)

T-1:Chapter 12

Overview of important documentation relating to auditing

Identify the important documents relating the process of auditing

Discussion

An Introduction to Auditing (Protection and preservation and ownership of Audit working papers)

T-1:Chapter 12

Overview of important documentation relating to auditing

Identify the important documents relating the process of auditing

Discussion on mentioned article

Audi Auditt of of Ass Asset etss and and Liab Liabil ilit itie iess (Objectives of verification of assets and liabilities)

T-1:Chapter 19

Overview of main Illustrate the process of Discussion objectives of verification verifying assets and of assets and liabilities liabilities

Audit of Assets and Liabilities (Balance sheet Audit)

T-1:Chapter 19

RW-1

Audit of Balance sheet items like share capital, Reserves and surplus, loans, currentliabilites

Identifying the process of verifying Balance sheet items

Audit of Assets and Liabilities (Verificaiton and valuation of assets and liabilities)

T-1:Chapter 19

OR-10

Verification process for assets and liabilities which comprises of a comparison of ledger accounts with Balance sheet

Identify the process of Discussion verification of assets and liabilities

Audi Auditt of of Ass Asset etss and and Liab Liabil ilit itie iess (Vouching: Cash sales, Receipts from Debtors, Cash purchases, Payment to creditors, payment of wages, Outstanding liabilites)

T-1:Chapter 19

Lecture 6 for Vouching process which includes Cash sales, Receipts from Debtors, Cash purchases, Payment to creditors, payment of wages, Outstanding liabilites

Identify how to verify vouchers

Discussion

Identify how to verify vouchers

Discussion

Discussion

Lecture 7 for contigency Week 3

Lecture 7

Audit of Assets and Liabilities (Vouching: Cash sales, Receipts from Debtors, Cash purchases,

T-1:Chapter 19

Lecture 6 for Vouching process which includes Cash sales, Receipts





Week 3

Lecture 9

Audit of Assets and Liabilities (Audit of Depreciation and Reserves)

T-1:Chapter 19

Overview of audit of Learning the process of Discussion depreciation and various verification of reserves depreciaton and reserves

Week 4

Lecture 10

Audit of Companies(Appointment)

T-1:Chapter 22

Appointment of an auditor

Illustrate the Discussion Appointment terms and conditions for auditor

Audit of Companies(Removal)

T-1:Chapter 22

Removal of an auditor

Learning how to terminate the employment of an auditor

Audit of Companies(Qualification and Disqualification)

T-1:Chapter 22

Appointment and Qualification of an auditor

Awareness about the Discussion procedure to appoint an auditor, his qualification,remunerati on

Audit of Companies (Remuneration)

T-1:Chapter 22

Remuneration of an auditor

Understanding the Discussion remuneration policy for an auditor

Audi Auditt of Comp Compan anie ies( s(Ri Righ ghts ts , Duties and Liabilities of an Auditor)

T-1:Chapter 22

Duties and liabilities of Knowledge about the Discussion an auditor ethical issues in front of auditors

Lect Lectur uree 11 11

Lecture 12 Week 5

Lecture 13 13

Lect Lectur uree 14

Discussion

Homework,Test 1 Audit of of Co Companies(CARO AN AND MAOCARO)

R-1:Chapter 8

Knowledge about the Identifying the CARO ethical issues in front of and MAOCARO rules auditors

Discussion

Audit of Companies(Special considerations in company audit)

R-1:Chapter 9

Special considerations Identifying items of like compliance and non special consideration compliance of the provisions of companies act, reporting requirements

Discussion

Audi Auditt of of Comp Compan anie ies( s(Pr Prese esent ntat atio ion n

T 1:Chapter 22

Presentation of financial Learning the auditing of Discussion





Week 6

Lecture 17 17

Audit of of Co Companies(Audit of of Share capital)

T-1:Chapter 22

Audit procedure for issue Illustrate the process of Discussion of share capital, share auditing share captial issued at premium and discount, sweat equity shares

Lecture 18 Week 7

Homework,Test 2

Lecture 19 19

Audit of of Co Companies(Audit of of dividends and debentures)

Lect Lectur uree 20

Audi Auditt of of Comp Compan anie ies( s(Li Liab abil ilit ity y for for un-audited Accounts)

T-1:Chapter 22

RW-3

Audit of dividends and Understanding how to debentures, Issue and audit dividends and redemption of debentures debentures

Discussion

Lecture 20 20 for Liability for unaudited accounts

Identifying the consequences of unaudited accounts

Discussion

Identifying the consequences of unaudited accounts

Discussion

Contents of an audit report

Illustrate how to draft an audit report

Case analysis Discussion

Lecture 21 for Revision Lect Lectur uree 21

Audi Auditt of of Comp Compan anie ies( s(Li Liab abil ilit ity y for for un-audited Accounts)

RW-3

Lecture 20 20 for Liability for unaudited accounts Lecture 21 for Revision

MID-TERM Wee k 8

Week 9

Lecture 22 22

Auditor's Re Re po port(Ba si sic el ele me ments of of an Audit Report)

T-1:Chapter 13


Audi Audito tor' r'ss Rep Repor ort( t(Ki Kind ndss of of Aud Audit it Report)

T-1:Chapter 13

Types of audit report

Identifying various types of audit reports


Audi Audito tor' r'ss Rep Repor ort( t(Di Dist stin inct ctio ion n between Report & Certificate)

T-1:Chapter 13

Difference between a report and audit certificate

Learning the formats of Discussion audit report and certificate

Auditor's Report(Importance of Audit Report)

T-1:Chapter 13

Importance of audit report

Understanding the purpose of preparation of an audit report

Discussion

Auditor's Re Report(Audit of of charitable institutions)

T-1:Chapter 35

Auditing procedure in charitable institutions

Identifying the procedure for conducting audit in various institutions

Discussion

Lecture 25 25

RW-4

OR-4





Week Week 10

Week 11 11

Lect Lectur uree 29

Audi Audittor's or's Rep Report ort(Aud (Audit it of Hire Hire purchase and leasing companies)

T-1:Chapter 35

Auditing procedure in Hire purchase and leasing companies

Learning the procedure Discussion for conducting audit in various institutions other than company

Lect Lectur uree 30

Spec Specia iall Area Areass of Audi Audit( t(Co Cost st Aud Audit it:: Meaning, Types of cost audit, Advantages, Cost Audit Programme)

T-1:Chapter 30

Basic introduction to Cost audit

Knowledge about the procedure of verifying cost accounts

Lecture 31 31

Special Ar Areas of of Au Audit (Management Audit, Management Audit Programme)

T-1:Chapter 31

Basic introduction to Management Audit

Learn to reveal the Discussion irregularities in working of management

Lect Lectur uree 32

Spec Specia iall Area Areass of Audi Audit( t(Ta Tax x Audi Audit, t, Tax Audit Programme)

T-1:Chapter 32

Basic introduction to Tax Knowledge about the Audit procedure of verifying tax payments


Spec Specia iall Are Areas as of Audi Audit( t(Sp Speci ecial al Audit u/s 233 A)

OR-1

OR-8

Lecture 33 for Special audit

Discussion

Discussion

Developing necessary Discussion skills to do special audit

Lecture 34 for contigency Week Week 12

Lect Lectur uree 34

Speci pecial al Area Areass of Aud Audit(S it(Sp peci ecial Audit u/s 233 A)

OR-8

Lecture 33 for Special audit

Developing necessary Discussion skills to do special audit

Lecture 34 for contigency Lect Lectur uree 35 35

Spec Specia iall Areas Areas of Audi Audit( t(Pr Prio iorr period items, extraordinary items, changes in accounting policies events occurring after Balance sheet date)

Lect Lectur uree 36

Rece Recent nt Tre Trend ndss in Audi Auditi ting ng(I (Imp mpact act of computerization onAuditing Approach)

OR-9

T-1:Chapter 15

5

Prior period items,extraordinary items, changes in accounting policies events occurring after Balance sheet date

Identifying the process of verifying extraordinary items

Discussion

Computerized accounting records

Illustrating auditing process for computerized accounts

Discussion







Wee k 14

Lecture 40 40

Recent Trends in Auditing (Problems and control in EDP environment)

T-1:Chapter 15

Problems in EDP Environment like absence of supporting vouchers, storage problem, coding and computer virus problem etc

Learning the Discussion verification of accounts made in a computerized manner

Lect Lectur uree 41

Rece Recent nt Tre Trend ndss in Audi Auditi ting ng (Computer assisted auditing techniques)

T-1:Chapter 15

Lecture 41 for Computerized accounting records like Test data, controlled processing and computer audit programmes

Learning the Discussion verification of accounts made in a computerized manner

Lect Lectur uree 42

Rece Recent nt Tre Trend ndss in Audi Auditi ting ng (Computer assisted auditing techniques)

T-1:Chapter 15

Lecture 41 for Computerized accounting records like Test data, controlled processing and computer audit programmes

Lecture 42 for Revision Learning the Discussion verification of accounts made in a computerized manner





Home Homewo work rk,T ,Test est 2

To tes testt the the Test on the topics covered in the class from Lecture 1 to Lecture conceptual clarity of 16 which includes Introduction to auditing: Nature, scope and students. objectives, Internal control, Internal check, Internal audit, verification of Balance sheet, Vouching of transactions, Appointment, removal and remuneration of auditor, audit of companies, audit of share capital and dividends.

Individual

Accuracy in the test, Maximum marks for test will be 30.

4/6

Homewo Homework, rk,Tes Testt 3

To make make stud student entss Design an audit programme for the allocated sector keeping in aware of the view the special points to be considered while a uditing. practical application of the subject.

Individual

Assignment submission - 5 marks, Presentation15 marks, Viva- 10 Marks

7/9

Plan for Tutorial: (Please do not use these time slots for syllabus coverage) Tutorial No.

Lecture Topic

Type of pedagogical tool(s) planned (case analysis,problem solving test,role play,business game etc)





ACC202 Auditing Theory And Practice 14797::Manu Kalia 3.0 1.0 0.0 4.0 Courses with conceptual focus

Recommend Documents