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Principles and Practice of Auditing

The book explains the concepts, principles and techniques of auditing and their applications in practical situation in easy language. The main objective of writing this book is to make students aware of both practical and theory aspects of auditing, which will help them in their academic career. Therefore, the book will be useful for the students of B.Com., M.Com., MBA and other professional courses. The book explains the different acts and laws regarding various topics of accountancy. It also highlights the traditional and modern aspects of auditing. The book caters to the needs of students to answer the question in the right approach. Written in a student–friendly manner, this book is intended for commerce students of all the universities in India. Simplicity and brevity are the main determinant of this book. The book has 20 chapters covering all the important and latest aspects of auditing. A separate annexure has been added at the end of the book discussing Auditing and Accounting standard (both old and new). A detail list of Companies Act 2013 (new) also has been added with reference to Companies Act 1956 (old) along with recent case studies and terminology. Our endeavor has been to make this book strictly syllabus oriented. We hope our sincere efforts to present the text of the syllabus analytically and methodically is appreciated by students as well as teachers.


Contents –

1. Introduction to Auditing
2. Classification of Auditing
3. General Conduct of an Audit
4. Internal Control, Internal Check and Internal Audit
5. Vouching of Cash Transactions
6. Vouching of Trading Transactions
7. Vouching of Impersonal Transactions
8. Verification of Liabilities
9. Verification of Assets
10. Verification of Financial Statements and Balance Sheet
11. Reserves and Provisions
12. Company Accounts
13. Audit Report
14. Dividend and Divisible Profit
15. Audit of Debentures
16. Audit in EDP Environment
17. Investigation
18. Liabilities of an Auditor
19. Special Audits
20. New Areas of Auditing
Objective Type Questions with Answers
Glossary of Auditing Terms
Significant Legal Decisions
Companies Act, 2013


Year of publication








Biswa Mohana Jena,

Dr. Sanjay Kumar Satapathy


Himalaya pub