Basics of Auditing A Complete Study

Basics of Auditing A Complete Study, available at $59.99, has an average rating of 3.75, with 177 lectures, based on 192 reviews, and has 5228 subscribers.

You will learn about Understand Meaning of Audit Understand Principal aspects of Audit Understand Benefits of Auditing This course is ideal for individuals who are Accounting / Finance Professionals or Accounting / Finance Students or CA / CMA / CS / CFA / CPA / CIMA Students It is particularly useful for Accounting / Finance Professionals or Accounting / Finance Students or CA / CMA / CS / CFA / CPA / CIMA Students.

Enroll now: Basics of Auditing A Complete Study

Summary

Title: Basics of Auditing A Complete Study

Price: $59.99

Average Rating: 3.75

Number of Lectures: 177

Number of Published Lectures: 177

Number of Curriculum Items: 177

Number of Published Curriculum Objects: 177

Original Price: $199.99

Quality Status: approved

Status: Live

What You Will Learn

Understand Meaning of Audit

Understand Principal aspects of Audit

Understand Benefits of Auditing

Who Should Attend

Accounting / Finance Professionals

Accounting / Finance Students

CA / CMA / CS / CFA / CPA / CIMA Students

Target Audiences

Accounting / Finance Professionals

Accounting / Finance Students

CA / CMA / CS / CFA / CPA / CIMA Students

Are you an Accounting or Finance Professional?

Are you an Accounting or Finance Student planning a career in either of the fields?

Are you a Professional Course Student planning career as Auditor?

Then this course is for you.

Welcome to Basics of Auditing A Complete Study

The basic purpose of Auditing is to confirm the authenticity of Books of Accounts prepared by an accountant.

So, the auditing begins, where the function of an accountant ends.Auditing is done to determine the true and fair picture of accounts examining the books of accounts with supporting documents.

Auditing provides lots of benefits like Verification of Books of Accounts, Independent Opinion, Moral Check, Protection of the Rights and Interests of Share holders, Reliance by Outsiders, Ensures compliance with level requirements &?Strengthens Internal Control.

Hence, by taking this course, you will learn

i) Evolution, Meaning, Features, Objectives, Principal aspects, Benefits and Limitations??of Auditing

ii) Audit Process

iii) Audit Engagement Terms

iv) Audit Planning

v) Audit Sampling

vi) Audit Working Papers

vii) Auditors Independence

viii) External Confirmation

ix) Verification of Assets

x) Verification of Liabilities

xi) Special Audits covering Educational Institutions, Hospital, Cinema Halls, Charitable Institutions, Club, Hotels, Local Bodies, etc.)

This course is structured in Self paced learning style.

You may find accounting terminologies used in this course. Hence, you should have Basic knowledge of Accounting.

Advanced auditing tools and concepts will be launched as separate courses in the due course.

Course Curriculum

Chapter 1: Introduction

Lecture 1: Need for Auditing

Lecture 2: Purpose of Auditing

Lecture 3: Evolution of Auditing

Lecture 4: Meaning of Auditing

Lecture 5: Features of Auditing

Lecture 6: Objectives of Auditing

Lecture 7: Principal aspects of Auditing

Lecture 8: Benefits of Auditing

Lecture 9: Limitations of Auditing

Lecture 10: Definition, Meaning and Features of Auditing

Lecture 11: Nature of Auditing

Lecture 12: Scope of Auditing

Lecture 13: Relationship between Accounting and Auditing

Lecture 14: Difference between Accounting and Auditing

Lecture 15: Difference between Audit and Investigation

Lecture 16: Basic Principles governing an Audit

Lecture 17: Significance of Audit

Lecture 18: Comparison between External Audit and Internal Audit

Chapter 2: Audit Process

Lecture 1: Audit Process

Lecture 2: Audit Process in three stages

Chapter 3: Agreeing Terms of Audit Engagement

Lecture 1: Acceptance of Audit Engagement

Lecture 2: Agreement on Audit Engagement Terms

Lecture 3: Changes in Audit Engagement Terms

Lecture 4: Audit Report prescribed by Law or Regulation

Lecture 5: Audit Engagement Letter

Lecture 6: Audit Engagement Letter in case of Recurring Audit

Lecture 7: Introduction to Audit Report

Lecture 8: Basic elements of Audit Report – Part 1

Lecture 9: Basic elements of Audit Report – Part 2

Chapter 4: Audit Planning

Lecture 1: Audit Planning

Lecture 2: Description of certain items in Audit Plan

Lecture 3: Knowledge of Clients Business

Lecture 4: Development of an Overall Audit Plan

Lecture 5: Developing the Audit Program

Lecture 6: Advantages and Disadvantages of Audit Program

Lecture 7: How to conduct systematic audit?

Lecture 8: Classification of Audit According to Time of Assurance

Lecture 9: Overcome Limitations of Continuous Audit

Chapter 5: Audit Sampling

Lecture 1: Basics of Test Checking or Sampling

Lecture 2: Judgemental Sample

Lecture 3: Statistical Sampling

Lecture 4: Random Sampling and Systematic Sampling

Lecture 5: Factors affecting size of Sample

Lecture 6: Difference between Test Checking & Routine Checking

Lecture 7: SA 530 Audit Sampling

Lecture 8: Surprise Check

Chapter 6: Audit Working Papers

Lecture 1: Audit Working Papers

Lecture 2: Working Paper Files

Lecture 3: Audit Note Book

Lecture 4: Advantages of Working Papers

Lecture 5: Access of Working Papers by others

Lecture 6: Audit Documentation SA 230

Chapter 7: Auditors Independence

Lecture 1: Concept of Auditors Independence Part 1

Lecture 2: Concept of Auditors Independence Part 2

Lecture 3: Persons disqualified for Appointment as Auditor of Company as per Companies Act

Lecture 4: Independence vis-à-vis Indebtedness of Auditor

Lecture 5: Introduction to Audit Evidence

Lecture 6: Introduction to Sufficiency and Appropriateness of Audit Evidence

Lecture 7: Sufficiency of Audit Evidence

Lecture 8: Appropriateness of Audit Evidence

Lecture 9: Sources of Audit Evidence

Lecture 10: Audit Procedures to obtain Audit Evidence

Lecture 11: Risk Assessment and Nature and Timing of Audit Procedures

Lecture 12: Audit Procedures to obtain Audit Evidence Detailed Explanation

Lecture 13: Tests of Controls

Lecture 14: Timing of Tests of Control

Lecture 15: Using Audit Evidence obtained in Previous Audits

Lecture 16: Evaluating the operating effectiveness of controls

Lecture 17: Substantive Procedures

Chapter 8: External Confirmation

Lecture 1: What is External Confirmation?

Lecture 2: Reliability of External Response

Lecture 3: Positive and Negative Confirmation Request

Lecture 4: No Response to Positive Confirmation

Lecture 5: How to handle exceptions in Confirmation request?

Lecture 6: Third party confirmation cases

Chapter 9: Vouching

Lecture 1: Vouching

Lecture 2: General Consideration in Audit of Cash Transactions

Chapter 10: Verification of Assets

Lecture 1: What is Verification in Audit Context?

Lecture 2: Difference between Verification and Vouching

Lecture 3: Objectives of Verification

Lecture 4: Verification of Building

Lecture 5: Verification of Freehold land

Lecture 6: Verification of Leasehold Property

Lecture 7: Verification of Plant and Machinery

Lecture 8: Verification of Furniture and Fixture

Lecture 9: Verification of Small Tools

Lecture 10: Verification of Patents

Lecture 11: Verification of Copy Right, Trade Mark and Goodwill

Lecture 12: Verification of Debtors

Lecture 13: Verfication of Cash at Bank and in Hand

Instructors

Raja Natarajan, B.Com., PGDBA, FCA
Chartered Accountant

Rating Distribution

1 stars: 4 votes

2 stars: 10 votes

3 stars: 42 votes

4 stars: 65 votes

5 stars: 71 votes

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