Notes on AUDITING & ASSURANCE -- An Easy Approach

Edition: 18th edn., 2016

ISBN: 978-93-5139-337-5

Pages: 324

Author: CA. Tapan Jindal

Chapter 1: NATURE OF AUDITING  

1.0      Financial Statements

1.1      Meaning of Auditing

1.2      Aspects to be covered in Audit or Functions of Audit

1.3      The Auditor

1.4      Scope of Audit

1.5      Inherent Limitations of Audit

1.6      Advantages of an Audit

1.7      Relationship of Auditing with other Disciplines

1.8      Basic Principles Governing an Audit

1.9      Objectives of Auditing

1.10    Auditing and Investigation

1.11    Auditing and Accounting

Annexures

1          SA 200 (Revised) — Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Standards on Auditing

2          SA 240 (Revised) — The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements

3          Case Studies

4          Questions from Past Exams

Chapter 2: CORE CONCEPTS IN AUDITING

2.1      Auditor’s Independence

2.2      Materiality

2.3      Concept of True and Fair

2.4      Disclosure of Accounting Policies

2.5      Audit Evidence

Annexures

1          SA 320 (Revised) — Materiality in Planning and Performing an Audit

2          SA 500 (Revised) — Audit Evidence

3          SA 501 (Revised) — Audit Evidence - Specific Considerations for Selected Items

4          SA 505 (Revised) — External Confirmations

5          SA 520 (Revised) — Analytical Procedures

6          SA 570 (Revised) — Going Concern

7          Case Studies

8          Questions from Past Exams

Chapter 3: TYPES OF AUDIT              

3.1      Independent Audit

3.2      Statutory Audit

3.3      Internal Audit

3.4      Government Audit

3.5      Tax Audit

3.6      Interim Audit

3.7      Continuous Audit

3.8      Final/Completed Audit

3.9      Balance Sheet Audit

3.10    Concurrent Audit

3.11    Management Audit

3.12    Environmental Audit

3.13    Secretarial Audit

3.14    Operational Audit

Annexures

1          Questions from Past Questions

Chapter 4: PREPARATION FOR AUDIT

4.1      Auditor’s Engagement

4.2      Audit Process

4.3      Audit Techniques

4.4      Audit Procedures

4.5      Audit Planning

4.6      Audit Programme

4.7      Methods of Work

4.8      Audit Notebook

4.9      Audit Working Papers

4.10    Quality Control for Audit Work

4.11    Test Check

4.12    Judgmental v Statistical Sampling

4.13    Selecting the Sample

4.14    Surprise Check

4.15    Examination in Depth

4.16    Obtaining Certificate from Management

Annexures

1          SA 210 (Revised) — Agreeing the Terms of Audit Engagements

2          SA 220 (Revised) — Quality Control for an Audit of Financial Statements

3          SA 230 (Revised) — Audit Documentation

4          SA 300 (Revised) — Planning an Audit of Financial Statements

5          SA 530 (Revised) — Audit Sampling

6          SA 580 (Revised) — Written Representations

7          Questions from Past Exams

Chapter 5: INTERNAL CONTROL   

5.1      Internal Control

5.2      Internal Audit

5.3      Internal Check

5.4      Audit Risk