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CM.4.4 (A) ADVANCED AUDITING AND PROFESSIONAL ETHICS (w.e.f. the batch of students admitted - 2015-16 ) UNIT-1: VOUCHING: Definition– Objectives - Procedure- Extent- Importance- Principles of Vouching - Types of Vouching- Routine Checking Vs. Vouching- Points to Be Noted in Vouching – Cash Transactions- Trading Transactions- Vouching Impersonal Ledger – Distinction between verification and valuation of different types of assets – Problems in valuation. UNIT-II: OBJECTIVE BASED AUDITING: Management Auditing – Techniques - Management Audit Report- Tax Auditing- Compulsory Tax Auditing- Persons Covered by Section 44AB- Approach to Conduct a Tax Audit- Selective Tax Audit (Section 142(2A) (2D) )- Tax Audit Report -Cost Auditing- Statutory Provisions as Regards Cost Audit- Cost Audit Programme- Points Receiving Special Attention While Conducting Cost Auditing- Distinction between Cost Auditing and Management Auditing. UNIT – III: SPECIAL AUDIT TECHNIQUES: A) Selective Verifications- Statistical Sampling-Special Audit Procedure- Physical Verifications of Asset- Direct Conformation of Debtors and Creditors B) Analytical Review and Creditors C) Risk Based Auditing UNIT – IV: AUDITING IN EDP ENVIROMENT: Division of Auditing in EDP Environment- Online Computer Systems- Documentation under CAAT- Using CAAT in Small Business Computer Environments- Limitations of EDP Audit UNIT – V: PROFESSIONAL ETHICS: Meaning of Professional Ethics - Code of Ethics with special reference to The Chartered Accountants of India Act, 1949 and the Regulations there under - Enquiry into Charges of Misconduct of Chartered Accountants. REFERENCES: 1. Saxena R. G., “Principles and Practices of Auditing”, Himalaya Publishing House, New Delhi, 2014. 2. Jagadesh Prakash, “Principles and Practices of Auditing”, Kalyani Publications, New Delhi. 3. Mortuz “Fundamentals of Auditing”, Newark 1994. 4. Rajram. M “Constitution of India and Professional Ethics”, New Age International (P) Ltd.
