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Auditing; Principles and Practice, Third Edition
This comprehensive, well-received and thoroughly updated text, now in its Third Edition, continues to provide an in-depth analysis of the basic concepts of Auditing emphasising the practical aspects of the course.
The book discusses in detail, classification and preparation of an audit, internal control system, internal audit, vouching of cash, trading and impersonal ledgers in addition to other topics. Besides, it deals with verification and valuation of assets and liabilities, company audit, cost audit, management audit, tax audit, bank audit as well as depreciation. The final chapters of the book give detailed description of business investigations, audit of special entities and auditing in EDP environment.
Contemporary topics have been covered in the book to enlighten readers with the latest developments in the field of auditing, such as cost audit, tax audit, environmental audit and energy audit.
The book is intended to serve as an indispensable text for undergraduate students of commerce as well as for CA and ICWA aspirants.
New to this Edition
• The Companies Act, 2013 (based on new company law).
• Internal Audit chapter especially updated in the light of Section 138 of the Companies Act, 2013 and Rule 13 of the Companies (Accounts) Rules, 2014 notified by MCA.
• Cost Audit chapter based on the latest Companies (Cost Records and Audit) Rules, 2014, issued by MCA.
Contents:
Foreword • Preface • Preface to the First Edition • Table of Cases
1. Introduction to Auditing
2. Classification of Audits
3. Audit Planning Procedures
4. Internal Control System
5. Internal Audit
6. Vouching: Concept and Importance
7. Vouching of Cash Transactions
8. Vouching of Trading Transactions
9. Vouching of Impersonal Ledger
10. Verification and Valuation of Assets and Liabilities—I
11. Verification and Valuation of Assets and Liabilities—II
12. Company Audit—I: Statutory Requirements Governing Company Auditors
13. Company Audit—II: Audit of Financial Statements
14. Company Audit—III: Audit Report
15. Auditor’s Liabilities
16. Cost Audit
17. Management Audit
18. Tax Audit
19. Depreciation
20. Reserves and Provisions
21. Profits and Its Divisibility
22. Audit of Banks
23. Business Investigations
24. Audit of Special Entities
25. Auditing in EDP Environment
Answers to Objective Type Questions • Index
The book discusses in detail, classification and preparation of an audit, internal control system, internal audit, vouching of cash, trading and impersonal ledgers in addition to other topics. Besides, it deals with verification and valuation of assets and liabilities, company audit, cost audit, management audit, tax audit, bank audit as well as depreciation. The final chapters of the book give detailed description of business investigations, audit of special entities and auditing in EDP environment.
Contemporary topics have been covered in the book to enlighten readers with the latest developments in the field of auditing, such as cost audit, tax audit, environmental audit and energy audit.
The book is intended to serve as an indispensable text for undergraduate students of commerce as well as for CA and ICWA aspirants.
New to this Edition
• The Companies Act, 2013 (based on new company law).
• Internal Audit chapter especially updated in the light of Section 138 of the Companies Act, 2013 and Rule 13 of the Companies (Accounts) Rules, 2014 notified by MCA.
• Cost Audit chapter based on the latest Companies (Cost Records and Audit) Rules, 2014, issued by MCA.
Contents:
Foreword • Preface • Preface to the First Edition • Table of Cases
1. Introduction to Auditing
2. Classification of Audits
3. Audit Planning Procedures
4. Internal Control System
5. Internal Audit
6. Vouching: Concept and Importance
7. Vouching of Cash Transactions
8. Vouching of Trading Transactions
9. Vouching of Impersonal Ledger
10. Verification and Valuation of Assets and Liabilities—I
11. Verification and Valuation of Assets and Liabilities—II
12. Company Audit—I: Statutory Requirements Governing Company Auditors
13. Company Audit—II: Audit of Financial Statements
14. Company Audit—III: Audit Report
15. Auditor’s Liabilities
16. Cost Audit
17. Management Audit
18. Tax Audit
19. Depreciation
20. Reserves and Provisions
21. Profits and Its Divisibility
22. Audit of Banks
23. Business Investigations
24. Audit of Special Entities
25. Auditing in EDP Environment
Answers to Objective Type Questions • Index
580 pages, Paperback
First published May 15, 2015
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