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Principles of Auditing

This document outlines the details of an advanced auditing course including the course name, code, semester, credit hours, total weeks, total hours, and total marks. The course objectives are to provide an understanding of the nature and objectives of auditing as well as basic principles and procedures like routine checking, vouching, and verification. The course is divided into 16 weeks covering topics like principles of auditing, auditing procedures, audit planning, test checking, internal control, systems of internal control, vouching, audit of ledgers and statements, auditor reports, report submission, verification, and verification of assets and capital/liabilities. Required and reference textbooks are also listed.

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233 views2 pages

Principles of Auditing

This document outlines the details of an advanced auditing course including the course name, code, semester, credit hours, total weeks, total hours, and total marks. The course objectives are to provide an understanding of the nature and objectives of auditing as well as basic principles and procedures like routine checking, vouching, and verification. The course is divided into 16 weeks covering topics like principles of auditing, auditing procedures, audit planning, test checking, internal control, systems of internal control, vouching, audit of ledgers and statements, auditor reports, report submission, verification, and verification of assets and capital/liabilities. Required and reference textbooks are also listed.

Uploaded by

balachmalik
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Course Name

Course Code
Semester
Credit Hours :
Total Weeks
Total Hours
Total Marks

:AuditingAdvance
:
FIN400
:
3rd
03
:
16/18
:
48/54
:
100

Course Objectives
The first course of Auditing has
been designed to provide a basic
understanding of the nature and
objectives of Audit, basic principles and
procedures involved in auditing. A
familiarity of auditing techniques such s
routine
checking,
vouching
and
verification is necessary to inspire
confidence to work as an auditor.

Management Letter

Week 7:
Vouching
Definition of voucher
Routine checking
Definition of vouching
Extent of vouching
Procedure of vouching
Techniques of vouching

Week 1:
Principles of Auditing
Definition of Audit
Difference between Auditing and
Accounting
Objects of an Audit

Week 8:
Procedures of Vouching
Vouching of Cash Book,
Receipts and Payment sides
Vouching of petty cash book
Vouching of purchase book
Vouching of Purchase Returns
books
Vouching of sales book
Vouching of sales return book
Vouching of bills receivable
book
Vouching of bills payable book
Vouching of Journal

Week 2:
Auditing Procedures
The operation of Audit
Procedures affecting Audit
Scope of Audit
Types of Audit

Week 11:
Audit of Ledgers / statements
Audit of Purchase Ledger
Audit of Sales Ledger
Audit of General Ledger
Audit Bank Statement

Week 3:
Audit Planning
Audit evidence
Commencement of a new Audit
Audit Program

Week 12:
Auditor Reports
Certification of statutory report
Report for insertion in prospectus
Annual audit

Week 4:
Test Checking
Audit Note Book
Working Papers
Record of Progress of Audit

Week 13:
Report Submission
Submission of Auditor report to
share holder
Auditors report to the members
Audit conclusion and Reporting
Report on the affair of the
company in support of the
directors of the companys
insolvency

Week 5:
Internal Control
Definition
Difference between Internal
check, Internal Audit, and
Internal Control
Principles of Internal Control

Week 6:
Systems of Internal control
Use of Statistical records
Methods of evaluation of Internal
Control

Week 14:
Verification
Need of verification
Techniques of verification
Objects of verification

Advance ages of verification

Week 15:
Verification of assets
Balance sheet audit
Fixed assets
Verification of fixed assets
Week 16:
Verification of Capital & liabilities
Capital
Distribution
Verification
Verification of liabilities
Text Books:
Principles of Auditing
By M. Irshad
Reference Book:
Principles of auditing
By Khwaja Amjad Saeed

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