Text book.  Advanced accounting by sohail afzal

Principles of auditing by Muhammad Irshad

Timing of class.  Thursday and Friday  10.30 am

After studying this subject students will be able to understand the concept of joint stock company , how to manage the account of the company,  how to analyze the ratio

The primary objective is to develop an understanding among students about the basic principles and techniques of auditing, and emphasizing the importance of auditing in Monitoring and evaluating the performance and decision making in an organization

LEARNING OBJECTIVES

At the completion of the course requirements, the student will be able to:1. Demonstrate comprehension of the role, responsibility and duty of the auditoras well as the purpose, benefits and limitations of auditing.2. Identify relevant audit regulation and standards.3. Demonstrate the importance of audit planning and factors impacting on it.4. Evaluate control procedure in an internal control system

COURSE OUTLINE:

Definition Scope and Objects OF Audit, Audit Program, Audit Working Papers, Audit Standards and procedure-Type of Audit, Audit and Internal control-Audit of Journals, subsidiary books. Trial Balance, profit and Loss Account and Balance Sheet. Valuation and verification of inventories, Audit of Textile, sugar and Banking Companies, Audit of Hotel, Cinema and Newspaper, Companies. Investigations of Accounts and Detection of fraud, conclusion of Audit, Audit Reports and Reporting Standards. Appointment, Rights, Powers, Duties and liabilities of auditor and divisible profits. Audit of Computerized Accounts. Cost Audit and Audit Standards. Recommended books. 1. Khawaja Amjad Saeed, Auditing, Accountancy & Taxation Services Institute, Lahore 2.  Muhammad Irshad, Auditing Naveed Publication, Lahore. Note: - Latest edition of the recommended books

I n auditing method students will be able to understand the concept of auditing, internal audit, interna check.  How to check the vouchers, what are the responsibilities of auditors.

EVALUATION SYSTEM

mid exam   30 marks

Final exam  50 marks

Quiz, assignment and attendance  20 marks