Accounting is the language of business and financial statement of business show the Investors and other outside parties how the business talks to them. Accurate and understandable financial statements matter to owners and investors. When owners prepare financial statements, the outsiders will have the incusitiveness to know the real financial health of the business. This forces owners to subject their financial statements for examination by an independent accountant called Auditor. A qualified Auditor examines the books of accounts and authenticity of the transactions recorded in the books of accounts of the entity. Thorough financial audit ensures the accuracy of financial statements, which can be banked upon by investors. In this backdrop, this book- “Auditing” is brought out to explain in detail the process of Auditing to students and readers.
This book is spread over 5 modules explaining the meaning, definitions, importance of Auditing, types of audit, auditing planning, risk assessment in auditing, internal control, verification and valuation of assets and liabilities, company and other entities audit, and audit report.
This book “Auditing” covers the syllabus of SEP fifth semester B.Com offered by Bengaluru North University. Written in an easily understandable language, study questions and skill exercises are given out at the end of each module for self learning. Authors expect that students will internalise the subject after reading.
Contents –
MODULE – 1 Introduction to Auditing
MODULE – 2 Internal Control
MODULE – 3 Audit Procedure
MODULE – 4 Audit of Components of Financial Statements
MODULE – 5 Company Audit and Audit Report
