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Principles and Practice of Auditing


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Auditing is essentially a practical subject but the knowledge of its principles is equally important. An attempt has been made to acquaint the readers not only with the practical aspects of auditing but also with a theoretical background to the subject. With this end in view, the basic principles of auditing have been explained in an easily understandable way in leading cases with relevant facts have also been discussed.

The latest provisions of the Company Law, 2013 other Acts relating to the auditor and auditing and the various views expressed and the recommendations of professional bodies on certain aspects of auditing such as internal audit, independent auditor, stock-in-trade and liabilities of joint auditors, have been incorporated and discussed where appropriate. Special attention has been given to the audit of Banking, Insurance and Cooperative Societies.

Tutorial assignments drawn from the question papers of various university examinations have been given at the end of each chapter with a view to acquaint the readers with the typical questions pertaining to each topic.

The book is intended to meet the requirements of the students preparing for the B.Com. (Honours), B.Com. (Pass) and M.Com. examinations of Indian universities as well as the candidates taking professional examinations conducted by the Institute of Chartered Accountants of India and similar professional Institutes.


Contents –

1. Introduction
2. Types and Conduct of Audit
3. Audit Planning Programme
4. Internal Control
5. Auditing and EDP Systems
6. Statistical Sampling In Auditing
7. Audit Evidence
8. Vouching of Cash Transactions
9. Vouching of Trading Transactions
10. Vouching of The Impersonal Ledger
11. Verification and Valuation of Assets
12. Verification of Liabilities
13. Depreciation
14. Reserves and Provisions
15. Capital and Revenue
16. The Audit of A Limited Company – I
17. The Audit of A Limited Company – II
18. The Audit of A Limited Company – III
19. Auditor’s Report
20. Divisible Profits
21. Liabilities of An Auditor
22. Audit of Banking Companies
23. The Audit of Insurance Companies
24. Audit of Co-Operative Societies
25. Tax Audit
26. Cost Audit
27. Management Audit
28. Investigation of Accounts
29. Different Classes of Audits
30. Audit of Government Companies
31. Professional Conduct and Ethics
32. Auditing Standards and Statements
33. Recent Trends in Auditing
34. Question Bank
35. Tutorial Assignments




Year of publication






Student Dollar Price

32, 16

Library Dollar Price





R. G. Saxena


Himalaya pub