TY - BOOK AU - Duttachowdhury Dhruba, TI - Principles of Audit and Internal Auditing SN - 9788173813094 U1 - 657.458 23 PY - 2016/// CY - London PB - New central book agency (P) Ltd KW - N1 - SECTION 1: PRINCIPLES OF AUDIT Part 1: CHAPTER 1 Auditing- its evolution, evaluation and major factors influencing 1. Evolution of auditing profession in India 2. Development of auditing profession- an evaluation 3. is auditing a profession? 4. Factors influencing the development of auditing 5. Objectives of auditing and audit function CHAPTER 2 Auditing-its nature, scope and basic concepts 1. Fundamental postulates 2. components 3. Essential features 4. functional approaches of auditing 5. Contractual basics of auditing CHAPTER 3 Evidence- its role in auditing 1. importance and necessity of audit evidence 2. types of audit and evidence 3. role of evidence in auditing 4. evaluation of evidence 5. characteristics and constraints of evidence Part: 2 CHAPTER 4 Auditing techniques and practices 1. auditing techniques vs auditing procedures 2. basic techniques and principle procedures of auditing 3. kinds of auditing practices under different legislations in India 4. audit-work quality control- a part of standard auditing practice 5. auditing practices in relation to the technical advice sought from experts CHAPTER 5 Generally accepted auditing standards 1. importance and objectives in general 2. auditing standards and procedures distinction 3. concept, meaning, and premises 4. what are those standards 5. importance of individual standards 6. elements of quality control in audit CHAPTER 6 Audit risk and materiality in conducting an audit 1.audit risk and its assessment criteria 2. Audit risk and materiality at the account balance and class of transaction level 3. materiality- definition and concept 4. materiality and audit programmes 5. materiality and evidential matter Part : 3 CHAPTER 7 Planing and programming of audit 1. auditor's consideration planning, programming and supervision 2. planing in relation to new and existing clients 3. audit work delegation- direction, supervision and review 4. general quality control policies 5. audit programme and allied notes 6. planing the flow of audit work phases CHAPTER 8 Analytical review procedures- concept, ratio analysis, trend analysis- inter-firm and intra-firm comparison- considerations in audit 1. analytical review procedures (ARP)- definition,objectives, audit application stages and auditor's considerations 2. ratio analysis, trend analysis, variance analysis- concepts and illustrations 3. ratios- purpose and utility 4. common- size financial statements CHAPTER 9 Internal control- its nature, evaluation and audit, internal questionnaires. 1.objectives, characteristics and limitations 2. internal control questionnaires and internal control evaluation 3. importance in internal auditing 4. study and evaluation of internal controls 5. auditor's approach and evaluation model CHAPTER 10 Computerized accounting system- auditor's evaluation of internal controls 1. List of controls and audit procedures CHAPTER 11 Audit in EDP enviroment 1. EDP system characteristics 2. EDP system controls 3. auditing in an EDP enviroment 4. EDP accounts system peculiarities and audit criteria 5. EDP audit plan development CHAPTER 12 Computer assisted audit techniques 1. concepts and types of CAAT'S 2. uses in audit 3. auditor's factor considerations 4. steps in CAAT application 5. control procedures for audit objectives 6, audit working papers in CAAT 7. Use of CAAT in small business 8. limitations in application of CAAT CHAPTER 13 System audit and auditing flow charts 1. system audit- concept 2. system audit- steps and illustrative chart 3. EDP and manual system- similarities and differences 4. job responsibilities in EDP system 5. recommended steps for system improvements 6. audit flow chart Part : 4 CHAPTER 14 Accounting concepts, policies and principles, etc: disclosure and objectivity in audit 1. Fundamental accounting concepts 2. accounting policy 3. Financial statements, generally accepted accounting principles (GAAP), comprehensive basis of accounting other than GAAP 4.Consistency concept, objectives and audit factors 5. truth and fairness, objectivity and disclosure in audit 6. going concern concept and audit considerations CHAPTER 15 Auditing in depth: test checks and statistical sampling 1. major parts of audit process 2.test check 3. statistical sampling and audit scope importance of statistical sampling methods in audit planning and execution 4. audit sampling, and sampling methods 5. aspects for sampling application 6. compliance tests and substantive tests CHAPTER 16 Financial auditor, cos auditor and internal auditor relationship 1. functional relationship between financial auditor and cost auditor 2. similarity and difference between internal auditor and cost auditor 3. is statutory auditor relieved of liabilities as he relied on internal auditor 4. functional relationship between internal auditor and cost auditor 5. differences between internal audit and financial audit CHAPTER 17 Cost audit, Financial audit and Tax audit 1.cost audit and financial audit difference 2. scope and characteristics of cost audit 3. purpose and potentials of cost audit 4. cost audit leading to efficiency audit 5. cost audit and salient feature CHAPTER 18 statutory auditor- His appointment, rights, duties, Liabilities, etc 1.financial auditor qualifications and disqualifications 2. Qualities of a finial auditor CHAPTER 19 Professional ethics and code of conduct 1. professional ethics, professional misconduct and professional negligence 2. professional ethics requirements Part : 5 CHAPTER 20 Provisions of the companies act and auditor"s responsibility CHAPTER 21 Assets and liabilities verification an valuation CHAPTER 22 Audit of banks, insurance companies, hospitals ,etc CHAPTER 23 Audit of public sector companies and government audit CHAPTER 24 Review of accounts on an overall basis; Balance sheet audit , etc CHAPTER 25 Audit reports and certificates, notes and qualifications CHAPTER 26 Dividends and divisible profits ; Financial , legal and and policy considerations CHAPTER 27 Miscellaneous SECTION 11 : INTERNAL AUDITING Part : one CHAPTER 1 Nature and scope of internal auditing CHAPTER 2 Impact of the macro 1975 on the internal auditing function CHAPTER 3 Organization of the internal auditing function CHAPTER 4 Planning the internal audit project Part : Two CHAPTER 5 Verification of evidence in internal auditing and statistical sampling CHAPTER 6 Flow chart techniques in internal audit CHAPTER 7 Internal controls and the internal auditor CHAPTER 8 Field work in internal auditing CHAPTER 9 Internal audit notes and working papers Part ; Three CHAPTER 10 Internal audit reports and summary reports to Top management CHAPTER 11 Communication in internal auditing CHAPTER 12 Auditing the functions of an enterprise CHAPTER 13 Internal auditor and the investigation of fraud CHAPTER 14 Auditing the internal audit function ER -