FINAL - Advanced Auditing and Professional Ethics Complete Video Lecture + eBooks + Question Bank Package from Ideal Classes consists of top quality video lectures of around 16 hours duration, exhaustive notes and question bank on each topic. The full eCourse Package along with the required software is delivered on a 8 GB pen drive or SDCard. The eCourse is suitable for consumption on Windows PC/Laptop or Android Tablet/Smartphones.
1. Auditing Standards, Statements and Guidance Notes - Auditing and Assurance Standards (AASs); Statements and Guidance Notes on Auditing issued by the ICAI; Significant differences between Auditing and Assurance Standards and International Standards on Auditing.
2. Audit strategy, planning and programming - Planning the flow of audit work; audit strategy, planning programme and importance of supervision: review of audit notes and working papers; drafting of reports; principal’s ultimate responsibility; extent of delegation; control over quality of audit work; reliance on the work of other auditor, internal auditor or an expert.
3. Risk Assessment and Internal Control - Evaluation of internal control procedures; techniques including questionnaire, flowchart; internal audit and external audit, coordination between the two.
4. Audit under computerized information system (CIS) environment - Special aspects of CIS Audit Environment, need for review of internal control especially procedure controls and facility controls. Approach to audit in CIS Environment, use of computers for internal and management audit purposes: audit tools, test packs, computerized audit programmes; Special Aspects in Audit of E-Commerce Transaction.
5. Special audit techniques - (a) Selective verification; statistical sampling: Special audit procedures; physical verification of assets, direct confirmation of debtors and creditors (b) Analytical review procedures (c) Risk-based auditing.
6. Audit of limited companies - Statutory requirements under the Companies Act 1956; Audit of branches: joint audits; Dividends and divisible profits financial, legal, and policy considerations.
7. Rights, duties, and liabilities of auditors; third party liability
8. Audit reports; qualifications, notes on accounts, distinction between notes and qualifications, detailed observations by the statutory auditor to the management vis-a-vis obligations of reporting to the members.
9. Audit Committee and Corporate Governance
10. Audit of Consolidated Financial Statements, Audit Reports and Certificates for Special Purpose engagements; Certificates under the Payment of Bonus Act, import/export control authorities, etc.; Specific services to non-audit clients; Certificate on Corporate Governance.
11. Special features of audit of banks, insurance companies, co-operative societies and non-banking financial companies.
12. Audit under Fiscal Laws, viz, Direct and Indirect Tax Laws.
13. Cost audit
14. Special audit assignments like audit of bank borrowers, audit of stock and commodity exchange intermediaries and depositories; inspection of special entities like banks, financial institutions, mutual funds, stock brokers.
15. Special features in audit of public sector companies. Directions of Comptroller and Auditor General of India under Section 619; Concepts of propriety and efficiency audit.
16. Internal audit, management and operational audit Nature and purpose, organisation, audit programme, behavioural problems; Internal Audit Standards issued by the ICAI; Specific areas of management and operational audit involving review of internal control, purchasing operations, manufacturing operations, selling and distribution, personnel policies, systems and procedures. Aspects relating to concurrent audit.
17. Investigation and Due Diligence.
18. Concept of peer review
19. Salient features of Sarbanes – Oxley Act, 2002 with special reference to reporting on internal control.
20. Professional Ethics - Code of Ethics with special reference to the relevant provisions of The Chartered Accountants Act, 1949 and the Regulations thereunder.
Prof. Karan Mansukhani
CA Prof. Karan Mansukhani is faculty with MT Educare
Ideal Classes, Mumbai
Founded by Prof. Jagdish Walavalkar, IDEAL began as a modest classroom coaching institute 25 years ago. Today, IDEAL educates thousands of students across India. It moulds over 12,500 students every year via satellite, online and distance learning; along with classroom coaching. It has always championed the cause of quality education. Its courses are delivered across 6 streams and 29 courses. IDEAL has always believed in dedication. Precisely what its 200+ expert teachers give every student across its 167 classrooms, every day. Pioneering education has always been IDEAL's aim. IDEAL was the first institute to receive ISO 9001 certification, first institute to have an independent teachers training program. It is the only coaching institute to have a dedicated in house placement service for its students. But there are greater milestones to be covered on the road to refined learning. IDEAL has an advanced coaching system that will revolutionise teaching, and change the way students learn. In the coming years, students across all streams of education will be able to experience this refined system.IDEAL empowers students to soar high and aim higher everytime.
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CA FINAL Group 1 - Advanced Auditing and Professional Ethics ?