Paper 6: Auditing and Assurance (One paper \u2013 three hours \u2013 100 marks)<\/strong><\/p>\n Level of knowledge:<\/p>\n Working Knowledge Objective: To understand objective and concepts of auditing and gain working knowledge of generally accepted auditing procedures and of techniques and skills needed to apply them in audit and attestation engagements and solving simple case-studies.<\/p>\n Contents<\/p>\n 1. Auditing Concepts \u2013 Nature and limitations of Auditing, Basic Principles governing an audit, Ethical principles and concept of Auditor\u2019s Independence, Relationship of auditing with other disciplines.<\/p>\n 2. Auditing and Assurance Standards \u2013 Overview, Standard-setting process, Role of International Auditing and Assurance Standards Board and Auditing and Assurance Standards Board in India.<\/p>\n 3. Auditing engagement \u2013 Audit planning, Audit programme, Control of quality of audit work\u2013Delegation and supervision of audit work.<\/p>\n 4. Documentation \u2013 Audit working papers, Audit files: Permanent and current audit files, Ownership and custody of working papers.<\/p>\n 5. Audit evidence \u2013 Audit procedures for obtaining evidence, Sources of evidence, Reliability of audit evidence, Methods of obtaining audit evidence, Physical verification, Documentation, Direct confirmation, Re-computation, Analytical review techniques, Representation by management.<\/p>\n 6. Internal Control \u2013 Elements of internal control, Review and documentation, Evaluation of internal control system, Internal control questionnaire, Internal control check list, Tests of control, Application of concept of materiality and audit risk, Concept of internal audit.<\/p>\n 7. Internal Control and Computerized Environment, Approaches to Auditing in Computerized Environment.<\/p>\n 8. Audit Sampling \u2013 Types of sampling, Test checking, Techniques of test checks.<\/p>\n 9. Analytical review procedures.<\/p>\n 10. Audit of payments \u2013 General considerations, Wages, Capital expenditure, Other payments and expenses, Petty cash payments, Bank payments, Bank reconciliation.<\/p>\n 11. Audit of receipts \u2013 General considerations, Cash sales, Receipts from debtors, Other Receipts.<\/p>\n 12. Audit of Purchases \u2013 Vouching cash and credit purchases, Forward purchases, Purchase returns, Allowance received from suppliers.<\/p>\n 13. Audit of Sales \u2013 Vouching of cash and credit sales, Goods on consignment, Sale on approval basis, Sale under hire-purchase agreement, Returnable containers, Various types of allowances given to customers, Sale returns.<\/p>\n 14. Audit of suppliers\u2019 ledger and the debtors\u2019 ledger \u2013 Self-balancing and the sectional balancing system, Total or control accounts, Confirmatory statements from credit customers and suppliers, Provision for bad and doubtful debts, Writing off of bad debts.<\/p>\n 15. Audit of impersonal ledger \u2013 Capital expenditure, deferred revenue expenditure and revenue expenditure, Outstanding expenses and income, Repairs and renewals, Distinction between reserves and provisions, Implications of change in the basis of accounting.<\/p>\n 16. Audit of assets and liabilities.<\/p>\n 17. Company Audit \u2013 Audit of Shares, Qualifications and Disqualifications of Auditors, Appointment of auditors, Removal of auditors, Powers and duties of auditors, Branch audit, Joint audit, Special audit, Reporting requirements under the Companies Act, 1956.<\/p>\n 18. Audit Report \u2013 Qualifications, Disclaimers, Adverse opinion, Disclosures, Reports and certificates.<\/p>\n 19. Special points in audit of different types of undertakings, i.e., Educational institutions, Hotels, Clubs, Hospitals, Hire-purchase and leasing companies (excluding banks, electricity companies, cooperative societies, and insurance companies).<\/p>\n 20. Features and basic principles of government audit, Local bodies and not-for-profit organizations, Comptroller and Auditor General and its constitutional role. Note: Candidates are expected to have working knowledge of relevant Auditing and Assurance Standards issued by the ICAI with reference to above-mentioned topics.<\/p>\n","protected":false},"excerpt":{"rendered":" Auditing and Assurance Syllabus for CA Paper 6: Auditing and Assurance (One paper \u2013 three hours \u2013 100 marks) Level of knowledge: Working Knowledge Objective: To understand objective and concepts of auditing and gain working knowledge of generally accepted auditing procedures and of techniques and skills needed to apply them in audit and attestation engagements … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":""},"categories":[1],"tags":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/posts\/21653"}],"collection":[{"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/comments?post=21653"}],"version-history":[{"count":0,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/posts\/21653\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/media?parent=21653"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/categories?post=21653"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kopykitab.com\/blog\/wp-json\/wp\/v2\/tags?post=21653"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}