1. Nature, objective & scope of Audit
1. Meaning & nature of auditing
2. Objectives of audit
3. Scope of audit
4. Inherent limitations of audit
5. Assurance engagement
6. Reasonable assurance, limited assurance
2. Audit strategy, audit planning and audit programme
1. Why planning audit is necessary
2. Planning process - elements of planning
3. Audit programme
3. Risk assessment & internal control
1. Risk of material misstatement
2. Identifying & assessing the risk of material misstatement
3. Materiality
4. Understanding entity & it's environment
5. Internal control
6. Components of internal control
7. Risks that require special audit consideration
8. Benefits of evaluation of internal to the auditor
9. Formulate audit programmer after understanding internal control
10. Evaluation of internal controls
11. Automated environment
12. Types of control in automated environment
13. Auditor's response to assessed risks
14. Nature & extent of test of controls
6. Audit Documentation
1. Audit Documentation
2. Assembly of the final audit file
8. Audit Report
1. Forming an opinion & reporting FS
2. Definitions
3. Forms of opinion
4. Auditor's report
5. Auditor's responsibilities for the audit of the financial statements
6. Auditor's report prescribed by law or regulation
7. Independent Auditor's report
8. Modifications of opinion in the independent Auditor's report
9. Types of modified opinions
10. Forms & content of the auditor's report when the opinion is modified
11. Basis for opinion
12. Objective of the auditor as per SA 706
13. Communicating key audit matters in the independent auditor's report SA 701
14. Auditor's report on the financial statements - A bird's eye view
15. Comparative information corresponding figures & comparative FS
16. Comparative FS
17. Definitions
18. Joint Audit
19. Reporting - Companies act, 2013
20. Reporting - Companies Auditor's Report Order, 2020
9. Special features of audit of different types of entities
1. Government Audit
2. Audit of local bodies
3. Audit of NGO's
4. Audit of sole trader
5. Audit of firm
6. Audit of charitable institution
7. Audit of educational institutions
8. Audit of Hospitals
9. Audit of Clubs
10. Audit of Cinema
11. Audit of Hire purchase & leasing companies
12. Audit of Hotels
13. Audit of Co-operative societies
14. Audit of Trusts & societies
10. Audit of Banks
1. Types of Banks
2. RBI - Regulating Body
3. Types of Bank Audit Reports to be issued generally
4. Bank Audit Approach
5. Auditor's Report
6. Conducting an Audit
7. Advances
8. Mode of creation of security
9. Accounts where there is erosion in the value of security / frauds committee by borrowers
10. Computation of drawing power
11. Income
12. Audit approach and procedures
13. Expenses
11. Ethics and Terms of Audit Engagements
1. Fundamental principles of professional Ethics
2. Threats to independence
3. Professional skepticism
4. Agreeing the terms of audit Engagements
5. SQC-1
6. SA 220
