Essentials of Auditing  
Published by Vijay Nicole Imprints Private Limited
Publication Date:  Available in all formats
ISBN: 9789393665348

PAPERBACK

EBOOK (EPUB)

EBOOK (PDF)

ISBN: 9788182095939 Price: INR 225.00
Add to cart Buy Now

Description

Essentials of Auditing

Dr. K. Sundar & K. Paari

This book ‘Essentials of Auditing’ is a spin-off of the authors’ comprehensive book titled Practical Auditing, 2E. It covers the syllabi requirements of undergraduate students of Commerce and Management of all major Universities.

Salient Features

Includes coverage of emerging areas of Auditing, Auditing of Public Companies, Special Institutions and EDP Auditing.

A new chapter titled Audit and Accounting Standards has been added to address the syllabi requirements in full measure.

Necessary changes and provisions as per the latest rules and regulations of Companies Act, 2013 have been incorporated throughout the text.

Pedagogy rich: Chapter objectives, tabular presentations, snapshot of content, end-of-chapter review questions, MCQs and other objective type questions.

 

 

 

 

 

Rating
Description

Description

Essentials of Auditing

Dr. K. Sundar & K. Paari

This book ‘Essentials of Auditing’ is a spin-off of the authors’ comprehensive book titled Practical Auditing, 2E. It covers the syllabi requirements of undergraduate students of Commerce and Management of all major Universities.

Salient Features

Includes coverage of emerging areas of Auditing, Auditing of Public Companies, Special Institutions and EDP Auditing.

A new chapter titled Audit and Accounting Standards has been added to address the syllabi requirements in full measure.

Necessary changes and provisions as per the latest rules and regulations of Companies Act, 2013 have been incorporated throughout the text.

Pedagogy rich: Chapter objectives, tabular presentations, snapshot of content, end-of-chapter review questions, MCQs and other objective type questions.

 

 

 

 

 

Table of contents
  • Cover
  • Halftitle Page
  • Title Page
  • Copyright Page
  • CONTENTS
  • Preface
  • CHAPTER 1 INTRODUCTION TO AUDITING
    • Introduction
    • Definitions of Auditing
    • The Features of Auditing
    • Distinction between Accounting and Auditing
    • Distinction between Auditing and Investigation
    • Objectives of Auditing
    • Detection and Prevention of Errors
    • Detection and Prevention of Frauds
    • Essential Features of Auditing
    • Basic Principles of an Audit
    • Advantages of Auditing
    • Shortcomings of Auditing
    • Materiality in Auditing
    • Efficiency Audit
    • Propriety Audit
    • Standards of Auditing
    • Professional Pronouncement in India
    • Review Questions
  • CHAPTER 2 CLASSIFICATION OF AUDIT
    • Introduction
    • Organisation-based Classification
    • Statute-Mandated Audit
    • Function-based Classification
    • Method-based Classification
    • Special Types of Audits (Dimension-based Audits)
    • Classification of Audit Branch-wise
    • Review Questions
  • CHAPTER 3 AUDIT AND ACCOUNTING STANDARDS
    • Secretarial Audit
    • Standards of Audit on Internal Audit
    • Accounting Standards
    • Auditing Standards
    • Role of National Financial Reporting Authority (NFRA)
    • Concurrent Audit
    • Stock Audit
    • CAG - Audit
    • Review Questions
  • CHAPTER 4 AUDIT PLANNING AND PREPARATION
    • Introduction
    • Preliminary Preparation
    • Audit Programme
    • Audit Notebook
    • Audit Working Papers
    • Audit Planning
    • Audit Manual
    • Audit Memorandum
    • Review Questions
  • CHAPTER 5 INTERNAL CONTROL
    • Definitions of Internal Control
    • Components or Features of Internal Control
    • Objectives of Internal Control
    • Forms of Internal Control
    • Principles or Prerequisites of Internal Control System
    • Process of Implementing Accounting Control
    • Advantages of Internal Control System
    • Shortcomings of Internal Control System
    • Auditor and Internal Control System
    • Method of Reviewing the Internal Control System
    • Internal Control and Corporate Governance
    • Internal Control in Computerised Information Environment
    • Sample Internal Control System for Cash Sales and Cash Collection
    • Internal Control for Sales/Debtors
    • Review Questions
  • CHAPTER 6 INTERNAL CHECK
    • Definition of Internal Check
    • Features of Internal Check
    • Factors Causing Errors and Frauds
    • Objectives of Internal Check
    • Essentials/Prerequisites of Good Internal Check System
    • Principles or Features of Internal Check System
    • Merits of Internal Check System
    • Shortcomings of Internal Check system
    • Auditor and Internal Check System
    • Execution of Operation of Internal Check for Certain Transactions
    • Review Questions
  • CHAPTER 7 INTERNAL AUDIT
    • Definition of Internal Audit
    • Features of Internal Audit
    • Role of Internal Audit
    • Objectives of Internal Audit
    • Functions of Internal Audit
    • Advantages of Internal Audit
    • Possible Shortcomings of Internal Audit
    • Scope of Internal Audit
    • Interface between Internal Auditor and Statutory Auditor
    • Evaluation of Internal Audit Function
    • Distinction between Internal Check, Internal Control and Internal Audit
    • Operational Audit
    • Review Questions
  • CHAPTER 8 VOUCHING AND VOUCHING OF CASH TRANSACTIONS
    • Introduction
    • Definitions of Vouching
    • Features of Vouching
    • Objectives of Vouching
    • Vouchers
    • Types of Vouchers
    • Vouching and Routine Checking
    • ‘Teeming and Lading’
    • Vouching of Cash Transactions
    • Sources of Evidence
    • Vouching Receipts Side
    • Review Questions
  • CHAPTER 9 VOUCHING OF TRADING TRANSACTIONS
    • Introduction
    • Various Aspects to be Covered in Vouching of Trading Transactions
    • Vouching of Purchase Book
    • Vouching of Purchase Returns
    • Vouching of Sales Book
    • Vouching of Sales Returns
    • Vouching of Journal Proper
    • Vouching of Bills Receivable Book
    • Vouching of Bills Payable Book
    • Vouching of Consignment Sales
    • Vouching of Goods Sent on Sale or Return Document
    • Vouching of Purchase Ledger
    • Vouching of Sales Ledger
    • Review Questions
  • CHAPTER 10 VOUCHING IMPERSONAL LEDGER
    • Introduction
    • General Considerations while Vouching Impersonal Ledger
    • Current Assets and Current/Outstanding Liabilities
    • Contingent Liabilities
    • Capital and Revenue Expenditure
    • Review Questions
  • CHAPTER 11 VERIFICATION AND VALUATION OF ASSETS
    • Definitions
    • Meaning of Valuation
    • The Process of Valuation
    • Objects of Verification
    • Principles of Verification
    • Valuation of Assets
    • Classification of Assets
    • Verification and Valuation of Specific Assets
    • Stock
    • Market Price: Meaning
    • Verification and Valuation of Fictitious Asset
    • Verification and Valuation of Current Assets
    • Review Questions
  • CHAPTER 12 VERIFICATION OF LIABILITIES
    • Introduction
    • Meaning
    • Verification of Share Capital
    • Debentures
    • Secured Long-term Loans
    • Verification of Current Liabilities Sundry Creditors
    • Bills Payable
    • Bank Overdraft/Loans
    • Outstanding Liabilities for Expenses
    • Provision for Taxation
    • Proposed Dividend
    • Income Received in Advance
    • Employees Deposit
    • Contingent Liabilities
    • Bills Discounted but Not Matured
    • Uncalled Capital
    • Guarantee
    • Law Suit
    • Arrears of Cumulative Dividend
    • Review Questions
  • CHAPTER 13 AUDITORS OF A COMPANY
    • Introduction
    • Appointment of Auditors
    • Ceiling on Number of Audits
    • Removal of Auditor
    • Auditor’s Remuneration
    • Qualification of Auditor
    • Disqualifications
    • Auditor’s Resignation
    • Review Questions
  • CHAPTER 14 RIGHTS (POWERS), DUTIES AND LIABILITIES OF AUDITOR
    • Introduction
    • Rights/Powers of an Auditor
    • Duties/Responsibilities of an Auditor
    • Status of an Auditor
    • Liabilities of an Auditor
    • An Auditor is a Watch Dog but Not a Blood Hound – A Discussion
    • Review Questions
  • CHAPTER 15 AUDIT REPORT
    • Introduction
    • Definition of the Term Report
    • Definition of Audit Report
    • Need and Importance of Audit Report
    • Auditor’s Duty regarding Audit Report
    • Requisites of Good Audit Report
    • Distinction between Audit Report and Audit Certificate
    • Elements of an Audit Report
    • Contents of the Report under Companies Act
    • Matters to be included in the Auditor’s Report
    • Signing of Audit Report
    • Types of Report
    • Statutory Report
    • Review Questions
  • CHAPTER 16 COMPANY AUDIT
    • Introduction
    • Classifications of Capital
    • Forms of Capital
    • Audit of Share Capital
    • Verification of Share Capital
    • Audit of Share Capital Received
    • Audit of Calls in Arrears
    • Audit of Calls in Advance
    • Forfeiture of Shares
    • Reissue of Forfeited Shares
    • Issue and Redemption of Preference Shares
    • Redemption of Preference Shares
    • Alteration of Capital
    • Capital Reduction
    • Share Transfer
    • Transmission of Shares
    • Share Warrant
    • Buying Back of Own Shares
    • Review Questions
  • CHAPTER 17 INVESTIGATION
    • Introduction
    • Characteristics of Investigation
    • Duties of Investigator/Principle of Investigation
    • Purpose of Investigation
    • Process of Conducting Investigation by Central Government
    • Contents of the Report
    • Types of Investigation
    • Review Questions
  • CHAPTER 18 AUDIT OF SPECIAL INSTITUTIONS
    • Introduction
    • Audit of Educational Institutions: Colleges, Universities and Schools
    • Audit of Charitable Institutions
    • Audit of Clubs
    • Audit of Hospitals
    • Audit of Hotels
    • Audit of Cinema Theatres
    • Audit of Insurance Companies
    • Audit of Banks
    • Audit Procedure for Verification of Assets and Liabilities
    • Verification of Liabilities
    • Review Questions
  • CHAPTER 19 AUDIT IN A COMPUTERISED ENVIRONMENT
    • Introduction
    • Aspects to be Considered in Computerised Information System (CIS) Environment
    • Approaches to EDP Auditing
    • Characteristics of Auditing through the Computer
    • Effect of EDP on Auditing Scenario
    • Audit Trail
    • Internal Control System in the Computerised Accounting Environment
    • Benefits of Computerised Accounting
    • Deficiencies in Computerised Accounting System
    • Role of Auditor under EDP Environment
    • The Role of Auditor in Computerised Audit Environment
    • Service Bureau
    • Review Questions
  • Glossary
  • Index
Biographical note

Dr. K. Sundar is Professor, Department of Commerce, Annamalai University. He has over 25 years of UG and PG teaching experience. A prolific author, he has authored books on Business Communication, Principles of Management, Human Resource Management, Organisation Behaviour, Business Ethics and Entrepreneurship Development.

Mr. K. Paari is a Chartered Accountant and Information System Auditor from ICAI. He was Junior Manager in Finance & Accounts section in SAIL, Bokaro. He had served as an audit manager in reputed audit firms such as Fraser & Ross, Batliboi & Co, Al Dobowi LLC, Dubai. Later on he started his own private practice in Chennai in 1997.  

User Reviews
Rating