For Online Test           Click Here If you are unable to reach our academy please email us we will render you online page link where you can attempt test.  Please remit payment always through Western Union Money Transfer in favour of Shakeel Sultan AUDITING   INTRODUCTION The word audit is taken from Latin "Audire" which means "to hear" in old days the business people used to appoint auditors to hear accounts matters relating to their business. At that time they have to rely on the words only. The process checking accounting matters was linked with accounting system. With the passage of time developments in field of accounting affected the work of auditing. Industrial revolution has paved the ways for division of work, labor and specialization. The joint stock companies are working at national and international level. There is separation of owner ship from management. The computer technology has made changes in the field of accounting. The state has framed legislation for compulsory audit for many business concerns. The court cases have affected the auditing to a large extent. Auditing is concerned with reporting to owners or shareholders after the accountability of management. Auditing has become a profession. It requires skills, experience, training and education in the field of accounting, finance and auditing. According to international auditing practices committee "An audit is the independent examination of financial information of any entity, whether profit oriented or not, and irrespective of its size, or form, when such an examination is conducted with a view to expressing an opinion thereof." An auditor is a chartered accountant. He is competent to examine the books of accounts. He has to be honest, loyal, and devoted to his work as only on his results a company assesses its performance and its current position. The institute of chartered accountants has as authority to make standards for conduct of audit. At international level the federations of chartered accountants have laid down the basic framework known as auditing guideline for audit work.    OBJECTIVES:         Following are the main objectives of the course:                    * The main objective of auditing is to provide comprehensive reports to owners of the                       companies or to the shareholders after the accountability of management and books of                       accounts.                   * Auditioning is done for the systematic examination of the financial statements, activities of                       the company. And all the records to determine the policies of management and finding out                       that how much a company are following the international accounting standards.                  * Purpose of audit is to determine the fairness of financial statements. These statements can                      show the true and fair view after auditing which s not possible in routine work.                  * The purpose of auditing is to detect the errors. The auditor can use ways to detect these                      errors. Audit is useful for detection as well as correction of errors.                  * The audit is used to prevent the frauds. In accounting it includes manipulation of records,                       misappropriation of assets, omission of effects of transaction, etc.                  * Another objective of audit is to satisfy the taxation officers. The audit can be conducted to                     determine the income.                  * The purpose if audit is to determine the real value of business for bid offer. The value of net                      tangible assets becomes the basis of sales. The bidders can offer bid price in the basis of                      such price.                  * The purpose of audit may be to admission of new partner. The audited accounts can provide                      information about new as well as old partners.                    * The objective of audit can be the checking of variation in profits. The fluctuation in profits                      can be analyzed by an expert auditor.                    COURSE CONTENTS           UNIT: 1                INTRODUCTION    Definition  Objectives of auditing  Scope of auditing  Importance of auditing  Kinds of audit  Continuous audit  Final audit  Interim audit  Audit standards  Principles of auditing  Audit techniques  Functions of auditing  Role of auditing                         UNIT: 2                  AUDIT PROGRAMME  Purpose of audit programme Contents of audit programme Commencement of new audit Audit note book Audit working papers Internal control Objectives, Types, Principles, Methods, Techniques & Evaluation Internal check Objectives & principles Internal audit Objectives, Essentials & Functions Errors in statements                    UNIT: 3                  VOUCHING Definition Objectives of vouching Techniques of vouching Procedure of vouching Vouching of: * Cash book * Assets * Subsidiary books * Purchase ledger * Sales ledger * General ledger * Outstanding Assets & Liabilities                           UNIT: 4                VERIFICATION Definition Techniques Objects Procedure Verification of: * Land & building * Plant & machinery * Furniture * Goodwill * Bill receivable * Cash in hand * Prepaid * Verification of liabilities: * Share capital * Debentures * Loans * Creditors * Bills payable * Deferred liabilities            UNIT: 5            (I) VERIFICATION Verification of : * Trial balance * Income statement * Balance sheet             (II) INVESTIGATION Objectives Investigation vs. audit Types of investigation Process of investigation Investigation for: * Business purchaser * Incoming partner * Money lenders * Detection of frauds   UNIT: 6  AUDIT REPORT & AUDITOR Definition & Essentials Kinds of audit report Qualified & unqualified reports Auditor: Appointment, removal, remuneration, qualification, status, Qualities, rights, duties, & liabilities.