Auditing (Paper-10B) CMA Inter Group 2

SECTION B: AUDITING [50%]

• Nature, Scope, Objectives and Significance of Auditing
• Brief Introduction to Auditing Standards
• Audit Engagement, Audit Program, Audit Documentations, Audit Evidence, Audit Note Book
• Audit Risk, Assessment of Audit Risk, Internal Control, Internal Check, Internal Audit - Industry Specific, Interplay between Internal Audit and Statutory Audit, Risk Based Internal Audit, Internal Financial Control and Internal Control over Financial Reporting
• Audit Sampling, Audit Techniques and Analytical Procedure (Including Scrutiny of Trial Balance and Grouping Schedules)
• Application of Technology in Audit and Audit Trail

• Statutory Audit – Auditor’s Eligibility, Qualifications, Disqualifications, Appointment, Resignation, Rotation, Remuneration, Removal, Rights and Duties, Liabilities, Branch Audit and Joint Audit, Role of Audit Committee
• Cost Audit
• Secretarial Audit
• Audit of Various Items of Financial Statements (with Special Emphasis on Audit of Inventory and PPE)
• Audit Report, Report vs. Certificate, Reporting Requirements under Companies Act, Contents of the Reports and Modifications in the Report (with Coverage of CARO)
• Report on Internal Financial Control over Financial Reporting
• National Financial Reporting Authority (NFRA)

• Audit of Educational Institutions
• Audit of Healthcare Organisations
• Audit of Organisations in Hospitality Sector
• Audit of Banks
• Audit of Co-operative Societies
• Audit of Local Self-Government