Audit (Paper-12B) CMA Inter Group 2

SECTION B: AUDITING (50 MARKS)
1. Auditing Concepts
(a) Nature, Scope and Significance of Auditing
(b) Audit Engagement, Audit Program, Audit Working Papers, Audit Note Book, Audit Evidence and Audit Report
(c) Internal Check, Internal Control, Internal Audit-Industry Specific
2. Provision relating to Audit under Companies Act
(a) Auditor’s qualifications, disqualifications, appointment, remuneration, removal, powers and duties
(b) Cost Audit, Secretarial Audit
(c) Reporting Requirements under Companies Act, Report vs. Certificate, contents of the reports and qualifications in the report.
(d) Miscellaneous Audit

• Branch Audit, Joint Audit
• Audit of shares and debentures
• Audit of divisible profits and dividends
• Statutory Auditors vs. Internal Auditors
• Auditing and Assurance Standards relating to audit of inventories and audit of fixed assets
• Auditing of different types of undertaking – Education, Hospital, Co-operative Societies, Banks, Trusts, Municipalities, Panchayats