CHRIST UNIVERSITY, BANGALORE

DEPARTMENT OF COMMERCE
COURSE PLAN
NOVEMBER 2015 MARCH 2015
Programme/Semest
er
Subject/Code
Total hours

Week

02/11/15
To
07/11/15

09/11/15
To
14/11/15

16/11/15
To
21/11/15

Hou
rs

Uni
t

B Com Regular/ VI Semester

Principles & Practice of Auditing/COM - 632
60 Hours

Heading

Details

Introduction
to Audit

Origin of audit, meaning, definition,

purpose and functions of audit, factors
responsible for the growth of auditing,
advantages and limitations of audit Difference between book keeping,
accountancy and audit, Objects of Audit
Main object & Secondary objectives

Introduction
to Audit

Introduction
to Audit

Teaching
Method/
Evaluation
Method
PPT, Chalk &
Talk, Case
study,
Discussion

Errors , Location of errors, Position of

Auditors in relation to errors & frauds,
different types of audit and their
relative advantages, statutory audit partial audit - cash audit - interim
audit, balance sheet audit, cost audit
and occasions audit

PPT, Chalk &

Talk, Case
study,
Discussion

Investigation - Meaning, difference

between Investigation and Auditing;
Investigation
regarding
business
purchase and investments

PPT, Chalk &

Talk, Case
study,
Discussion

Reference/
Reading
Auditing B. N.
Tandon.
Fundamenta
ls of
AuditingKamal
Gupta,
Ashok
Arora,
Auditing B. N.
Tandon.
Fundamenta
ls of
AuditingKamal
Gupta,
Ashok
Arora,
Auditing B. N.
Tandon.

Fundamenta
ls of
AuditingKamal
Gupta,
Ashok
Arora,

23/11/15
To
28/11/15

30/11/15
To
05/12/15

07/12/15
To
12/12/15

II

Preparations
Before and
Procedure of
Audit

PPT, Chalk &

Talk, Case
study,
Discussion

Procedure of audit - adoption of distinctive

ticks Audit in depth -routine checking Test checking

PPT, Chalk &

Talk, Case
study,
Discussion

Auditing B. N.
Tandon.
Fundamenta
ls of
AuditingKamal
Gupta,
Ashok
Arora,
Auditing B. N.
Tandon.
Fundamenta
ls of
AuditingKamal
Gupta,
Ashok
Arora,
Auditing B. N.
Tandon.

II

Preparations
Before and
Procedure of
Audit

III

Internal
Control,
Internal
Check &
Internal
Audit

A. Internal
Control

Meaning,
Importance, Elements for internal
control. Evaluation of internal control
system - Internal control questionnaire

PPT, Chalk &

Talk, Case
study,
Discussion

III

Internal
Control,
Internal
Check &
Internal
Audit

B. Internal Check Meaning,

definitions, fundamental principles,
internal check as regards wages, cash
sales, cash purchases, internal check in
a store

PPT, Chalk &

Talk, Case
study,
Discussion

Auditing B. N.
Tandon.

C. Internal Audit: Meaning, importance

advantages and limitations.
Differences between Internal audit and
statutory audit

PPT, Chalk &

Talk, Case
study,
Discussion

Fundamental
s of
AuditingKamal
Gupta,
Ashok
Arora,

Meaning, definition, importance of

vouching, routine checking and
vouching, voucher types of vouchers
Vouching of receipts, vocation of cash
sales, receipts from debtors, bills
receivable, proceeds from the sale of
investments and buildings.

PPT, Chalk &

Talk, Case
study,
Discussion

Auditing B. N.
Tandon.

III

14/12/15
To
19/12/15

Internal
Control,
Internal
Check &
Internal
Audit

Vouching
2

Preparations
before
audit
preparations by the auditor
considerations at the commencement
of audit, audit program, audit files,
audit note book, audit working papers.

IV

21/12/15
To
22/12/15

04/01/16
To
09/01/16

Fundamenta
ls of
AuditingKamal
Gupta,
Ashok
Arora,

PPT, Chalk &

Talk, Case
study,
Discussion

Auditing B. N.
Tandon.
Fundamenta
ls of
AuditingKamal
Gupta,
Ashok
Arora,

Verification
and
Valuation of
Assets and
Liabilities

A. Verification of liabilities, sundry

creditors, bills payable, outstanding
expenses and contingent liabilities

PPT, Chalk &

Talk, Case
study,
Discussion

Auditing B. N.
Tandon.

Company
Auditor:-Appointment,
qualifications and removal, powers,
duties and liabilities of an auditorcivil and criminal.
Audit of Limited Companies- Audit
of financial statements Balance sheet
& Profit & Loss account,

PPT, Chalk &

Talk, Case
study,
Discussion

Auditing B. N.
Tandon.

VI

Company
Auditor and
Audit of
Limited
Companies

IV

11/01/16
To
16/01/16
1

11

PPT, Chalk &

Talk, Case
study,
Discussion,
Analysis of
different
vouchers

Vouching

10

Vouching of payments - vouching of

cash purchases - payments of creditors,
bills payables, purchase of building,
plant and machinery and patent rights,
Vouching
of
deferred
revenue
expenditure - preliminary expenses,
cost of issue of shares and debentures,
under writing commission
Definition
general
principles,
difference between verification and
valuation - Auditors position as
regards valuation of assets
Verification and valuation of fixed
assets- good will- land and building plant and machinery - patents and
trademarks investments - Current
assets - cash in hand, cash at bank,
sundry debtors, stock in trade and bills
receivable, methods of valuing stock
in trade,

Verification
and
Valuation of
Assets and
Liabilities

18/01/16
Mid Sem Exams
To
23/01/16

12

13

25/01/16
To
30/01/16

01/02/16
To
06/02/16

14

16

VI

15/02/16
To
20/02/16

Company
Auditor and
Audit of
Limited
Companies

VI

Company
Auditor and
Audit of
Limited
Companies

VII

Audit of
Different
Types of
Undertakings

08/02/16
To
13/02/16

15

VI

Company
Auditor and
Audit of
Limited
Companies

VII

22/02/16
To
27/02/16
2

VII

VIII

Audit of
Different
Types of
Undertakings

Audit of
Different
Types of
Undertakings
Auditing
Standards
and
Procedures

Contents of Audit Report types of

report audit reports.
Audit of Share Capital and Transfer of
Shares, Profits vs. divisible profits

PPT, Chalk &

Talk, Case
study,
Discussion

Auditing B. N.
Tandon.

Kinds of reserves - specific, general

capital and reserves, duties of an
auditor,

PPT, Chalk &

Talk, Case
study,
Discussion
Collection of
company audit
reports and
balance sheet

Auditing B. N.
Tandon.

legal
provision
and
reserves,
provisions as to payment of dividend

PPT, Chalk &

Talk, Case
study,
Discussion
Collection of
company audit
reports and
balance sheet

Auditing B. N.
Tandon.

Audit of Banking Companies-

PPT, Chalk &

Talk, Case
study,
Discussion

Auditing B. N.
Tandon.

Co-operative Banks
Insurance Companies
Partnership Accounts Government
Audit

PPT, Chalk &

Talk, Case
study,
Discussion
Collection of
Sample audit
reports

Fundamenta
ls of
AuditingKamal
Gupta,
Ashok
Arora,

Partnership Accounts Government

Audit

PPT, Chalk &

Talk, Case
study,
Discussion
Collection of
Sample audit
reports

Fundamenta
ls of
AuditingKamal
Gupta,
Ashok
Arora,

PPT, Chalk &

Talk,
Case
study,

Auditing B. N.
Tandon.

Mandatory
accounting
issued by institute of
accountants of India

standards
chartered

Discussion

17

29/02/16
To
05/03/16

18

07/03/16
To
12/03/16

19

14/03/16
To
19/03/16

20

21/03/16
To
22/03/16

VIII

Auditing
Standards
and
Procedures

VIII

Auditing
Standards
and
Procedures

VIII

Auditing
Standards
and
Procedures

Professional ethics of an auditor.

Auditing Standards and Procedures -

PPT, Chalk &

Talk,
Case
study,
Discussion

Auditing B. N.
Tandon.

an over view generally accepted

accounting practices and auditing
procedures -

PPT, Chalk &

Talk,
Case
study,
Discussion

Auditing B. N.
Tandon.

Statements on standard auditing

practices and guidance notes.
Revision

PPT, Chalk &

Talk,
Case
study,
Discussion

Auditing B. N.
Tandon.

Revision
1

CIA 1: Before 12th December 2015

Moodle Test, Quiz, Case study analysis

CIA II: Mid Semister Examination 18th January

to 23rd Jan 2016.
Portion: First 5 Chapters

CIA III: Before 10th March 2016

Presentations, Preparation of audit report for
companies

General Notes:
Assignment: Role of IFRS in auditing
Comparison of auditing standers of other countries
with India.
Reference: D. P. Jain, (2004), Auditing.

Self-learning:
Module VIII: Auditing Standards and Procedures
Assessment / Evaluation Criteria:
Live cases wherein auditor violated professional ethics
Students should collect all the relevant standards applicable to manufacturing and service
industries relating to auditing.
Identification of changes in auditing standards when IFRS is implemented.