This comprehensive textbook covers all essential auditing concepts and practices, providing students with a solid foundation in the field. Combining theoretical insights with practical examples and regulatory frameworks ensures a holistic understanding of the subject, preparing students for academic success and professional excellence. It is designed specifically for undergraduate students at the University of Delhi, aligning with the syllabus requirements for B.Com. (Hons.) and B.Com. courses. The Present Publication is the 2024 Edition, based on the New Education Policy (NEP). This book is authored by Dr Aruna Jha and CA (Dr) Anuj Bhatia, with the following noteworthy features: • [Concept Clarity] Concepts are explained in a lucid and concise manner, facilitating easy understanding for students at all levels of proficiency • [Practical Examples] Includes a large number of real-life examples to elucidate theoretical concepts and demonstrate their practical applications, bridging the gap between theory and practice • [Visual Aids] The book extensively uses tables, figures, and diagrams to enhance comprehension and retention of complex auditing principles • [Regulatory Analysis] Relevant Standards on Auditing issued by the Institute of Chartered Accountants of India are integrated at suitable places to ensure students are well-versed with current professional standards • [Landmark Cases] References to landmark cases with significant implications for auditing provide a contextual understanding of theoretical concepts within practical scenarios • [Legislative Provisions] Key provisions of the Companies Act, 2013, relating to accounts and audits are explained clearly and concisely, aiding students in understanding complex legislative requirements • [Chapter-end Questions] Important questions are provided at the end of each chapter to test students' knowledge and understanding of the topics covered, promoting self-assessment and revision The detailed contents of the book are as follows: • Introduction o This chapter lays the foundation for understanding the fundamentals of auditing. It begins by defining auditing and outlining its primary objectives, focusing on the goals of financial audits. The chapter analyses various types of errors and frauds that auditors might encounter and discusses the broad scope of auditing practices. It also highlights the advantages of auditing while acknowledging the inherent limitations outlined in Standard on Auditing (SA) 200. Essential principles guiding audit practices are also discussed, providing a comprehensive introduction to the subject • Classification of Audit o This chapter categorizes audits based on different criteria, providing a structured understanding of the various types of audits. It starts with an introduction to audit classification and then examines audits based on organizational structure, specific objectives, and time. Each classification type is discussed in detail to help students understand the diverse nature and purposes of audits • Audit Planning and Documentation o Focusing on the initial steps of an audit, this chapter covers the critical considerations for commencing an audit. It explains the components of an audit programme and the purpose of an audit notebook. Additionally, it discusses the importance of thorough audit documentation to ensure a systematic and effective audit process • Internal Control Systems o This chapter discusses the components and significance of internal control systems within an organization. It explains the nature and purpose of internal checks and internal audits and examines the inter-relationships between internal control, internal checks, and internal audits. The chapter also includes specific transactions to highlight practical applications • Audit Evidence and Audit Sampling o Understanding the significance of audit evidence is crucial for effective auditing. This chapter explains the nature and importance of audit evidence as outlined in SA 500. It also covers methods such as test checking and selective verification and introduces the concept of audit sampling, highlighting its role in the audit process • Vouching o Vouching is a fundamental aspect of auditing, and this chapter provides a comprehensive overview of its meaning, objectives, and importance. It details the procedures for routine checking and vouching and discusses the different types of vouchers. Specific sections cover vouching for credit sales, sales returns, purchase transactions, and entries on both the debit and credit sides of the cash book • Verification of Assets o This chapter analyses the concept of asset verification, distinguishing it from vouching and valuation. It outlines the objectives and procedures for verifying specific assets and liabilities, emphasizing the auditor's duties in this context. The chapter provides detailed guidelines for the verification of various types of assets and liabilities • Company Auditor | Appointment and Removal o Focusing on the legal and procedural aspects of appointing and removing company auditors, this chapter covers eligibility criteria, appointment processes, compulsory reappointments, and ceilings on the number of audits an auditor can undertake. It also discusses the remuneration, rights, duties, and liabilities of auditors as outlined in various sections of the Companies Act 2013 • Auditor's Report o This chapter discusses the audit report as a crucial means of communication between the auditor and stakeholders. It explains the revised SA 700 series and the elements of an audit report, differentiating between various types of reports. Special attention is given to audit reports for limited companies • Liabilities of Auditor o Understanding the liabilities associated with the auditing profession is essential for auditors. This chapter introduces the classification of liabilities, including civil liabilities under common law and liabilities under the Companies Act 2013. It provides a detailed examination of the potential legal repercussions auditors may face • National Financial Reporting Authority (NFRA) o This chapter provides an in-depth look at the National Financial Reporting Authority (NFRA), including its evolution, background, powers, functions, and duties. It discusses the companies and auditors governed by NFRA and the composition of the authority. The chapter also examines the rise of NFRA and its relationship with the Institute of Chartered Accountants of India (ICAI) • Audit of Banking Companies o This chapter focuses on the unique aspects of auditing banking companies. It starts with an introduction to the banking system in India and the peculiarities of banks. The chapter covers different types of bank audits and the framework for auditing banking companies, with special emphasis on auditing key financial items in a bank's financial statements • Audit of Insurance Companies o Auditing insurance companies require specific knowledge and approaches. This chapter outlines the framework for auditing insurance companies, the preparation of auditor's reports for such companies, and the auditing of key financial items in the insurance business • Forensic Audit o Forensic auditing is a specialized area within auditing, and this chapter provides a comprehensive overview of its background, definition, and importance. It distinguishes forensic audits from financial audits and discusses the use of the fraud triangle by forensic auditors, relevant laws, standards, compliance issues, and the limitations of forensic auditing. • Audit in a Computerized Environment o This chapter addresses the challenges and strategies associated with auditing in a computerized environment. It covers audit strategies and approaches, computer-assisted audit techniques (CAATs), types of internal control in computerized information systems (CIS)/electronic data processing (EDP) environments, audit trails, and the implications of auditing in a computerized setting based on SA 315 and SA 330
*Types Of Audit *Audit Planning And Documentation *Internal Control System *Vouching *Verification Of Assets *Verification Of Liabilities *Company Auditor: Appointment And Removal *Rights And Duties Of A Company Auditor *Auditor'S Report *Divisible Profits And Dividends *Depreciation And Reserves *Important Aspects Of Company Audit And Company Accounts *Audit Of Share Capital *Cost Audit *Specialised Audits *Introduction To Edp Auditing *Government Audit *Standards On Auditing *Guidance Notices
Wish to touch the realms where Science meets Spirituality? Travelling through the world of mystic sounds, mantras and ragas, one can evolve towards higher planes of consciousness. Appreciating the relation between swaras, ragas, emotions and chakras will help one explore new territories of music therapy. A Call to “GOD” introduces Swara SamYoga and guides you to experience oneness with the Supreme through music therapy. An extract of veteran playback singer Vani Jairam’s exclusive foreword No monumental task gets done on this planet without divine intervention. In Dr. Aruna’s case, this great spiritual guidance came in the form of Puttaparthi Baba’s divine blessings right from the beginning. She has gone deep into the subject explaining things correctly and convincingly, at the same time alerting readers about half-baked and self-proclaimed pundits on the subject. Again I quote, “The 3Cs of life are commitment, contribution and competition. Let our lifetime decisions be made based on commitment and contribution. Let’s compete to achieve excellence not better than others but be better selves than yesterday.” The reasons she has explained as to why this therapy may not be that effective in the case of musicians can very well be understood. Whenever I am unable to sleep, I try listening to some good music which is so soothing but instead of enjoying the music, a musician’s mind always wanders thinking of the prayogas performed by the musician. It has happened to me so many times. I am sure Dr. Aruna’s untiring efforts in bringing out such a rewarding, analytical, informative book will prove to be a real treasure benefitting one and all, not only musicians, scholars, doctors and patients. Vani Jairam 11th, Jul 2016
The conventional wisdom in Bihar’s political circles was that development did not win votes. Nitish Kumar challenged that assumption and changed the face of the state. Born into a humble family in Bakhtiyarpur; Nitish joined the Lohiaite Socialist Party and built his constituency; literally day by day; forgoing a stable job to travel to distant villages; suffering both financial hardship and ridicule for the eight years it took him to win people’s confidence. Veteran journalist Arun Sinha tells the story of Nitish Kumar’s rise against the larger canvas of social and political upheaval in Bihar; exploring the emergent desire for equality that drove progressive movements from late 1960s onwards and brought about a regime change by the 1990s. After an initial association with Lalu Prasad Yadav; Nitish Kumar rejected identity politics; recognizing that Bihar had to transcend caste if it was to grow. Nitish Kumar and the Rise of Bihar is a clear-sighted study of Indian electoral politics that unfolds with the pace of a political drama; offering hard facts and an incisive analysis of the state’s turbulent trajectory. Sinha steers the narrative deftly through the complex groupings of Bihar’s political arena to reveal Nitish Kumar’s acumen in bringing law and order; roads; education and health to the fore of governance. From feudal politics to caste identities; and finally to development—Bihar could prove to be the model for India’s post-Independence journey.
The potential of civil society in interfacing with the government for ensuring good governance has gained currency in academic and policy debates in the recent times. This becomes particularly relevant in an old democracy like India where the State has not been able to meet the need for basic things. However, the State provides space and freedom for people to engage in collective action, to critically evaluate the State’s policies and demand a revision in policy for effective implementation of the laws that are elaborately codified in the Constitution and also to improve the functioning of its institutions. This book studies the level of participation of tribal communities in the new Panchayat Raj dispensation introduced in Andhra Pradesh since the PESA Act. It specifically analyses how much the community has achieved or benefited after the introduction of Panchayat Raj. The objective is to determine how the power structures of tribal communities have been influenced by the socio-political changes and institutional innovations, like the extension of representative democracy at the grassroots level; what kind of changes have taken place in the study area with the institutionalization of Panchayats; and the politicization of the tribal people by the different parties. This book also throws light on the role of civil society actors in influencing governance positively as well as the limitations that have inhibited the impact of their influence. The empirical research highlights that the institution of Gram Sabha has been instrumental in bringing transparency and accountability in the working of local bodies. The author has rightly emphasized the need for an attitudinal change both in the political and administrative machinery at State, district and village level. The inter-relationship of the three Ds, i.e. Democracy, Decentralisation and Development, has been brought out beautifully with the support of field study. While the 73rd amendment and PESA Act of the Constitution has mandated the democratization of local self-governments, the process of decentralisation is yet to take concrete shape through real devolution from Lok Sabha to Gram Sabha.
What would happen if you got stuck with dreaded Bollywood villains like Gulshan Grover & Ranjeet and they rescue you from being harassed? What would your reaction be if Madhuri Dixit said I Am Sorry to you? As a four-year-old, in the verdant Doon Valley, Aruna would prance about the garden while the great sitar maestro Vilayat Khan would hold his music soirees. At 19, Aruna had Bollywood’s sexiest hero of the time, Sanjay Dutt, say I Love You to her. By the time she began working with hotels Aruna had stars from Bollywood and Hollywood orbiting her galaxy. HOTEL ADVENTURES WITH THE STARS is truly one-of-a-kind autobiography that chronicles several of Aruna's engrossing true encounters with a gamut of celebrities like Hrithik Roshan, Kapil Dev, Jackie Shroff, Dimple Kapadia, Ruskin Bond, Maneka Gandhi, Kiran Bedi, Khushwant Singh and several others. Funny, thrilling and heart-warming in equal measure, Hotel Adventures with the Stars is a collector’s edition Memoir.
Unlock the secrets to a fulfilling life with 'Work-Life Balance: Insights and Ideologies.' Delve into the complexities of modern living, achieving harmony between ambition and well-being.
A timely book containing foundations and current research directions on emotion recognition by facial expression, voice, gesture and biopotential signals This book provides a comprehensive examination of the research methodology of different modalities of emotion recognition. Key topics of discussion include facial expression, voice and biopotential signal-based emotion recognition. Special emphasis is given to feature selection, feature reduction, classifier design and multi-modal fusion to improve performance of emotion-classifiers. Written by several experts, the book includes several tools and techniques, including dynamic Bayesian networks, neural nets, hidden Markov model, rough sets, type-2 fuzzy sets, support vector machines and their applications in emotion recognition by different modalities. The book ends with a discussion on emotion recognition in automotive fields to determine stress and anger of the drivers, responsible for degradation of their performance and driving-ability. There is an increasing demand of emotion recognition in diverse fields, including psycho-therapy, bio-medicine and security in government, public and private agencies. The importance of emotion recognition has been given priority by industries including Hewlett Packard in the design and development of the next generation human-computer interface (HCI) systems. Emotion Recognition: A Pattern Analysis Approach would be of great interest to researchers, graduate students and practitioners, as the book Offers both foundations and advances on emotion recognition in a single volume Provides a thorough and insightful introduction to the subject by utilizing computational tools of diverse domains Inspires young researchers to prepare themselves for their own research Demonstrates direction of future research through new technologies, such as Microsoft Kinect, EEG systems etc.
Divine Veena was considered as the first of the best in the musical instruments, since time immemorial. This is our National emblem for fine arts! Lack of encouragements and supports by musicians and music-lovers has caused a sharp decline in its past glory. This is a humble attempt to revive it. Brief contents: • Ancient history and evolution. • Saraswathi veena and human body. • Science of vibrations, acoustics, listening, voice, voice-differences. • Veena rendering-methods and Baanis. • Techniques: Mela, shruthi, varities of plucking, thaanams, gamakas. • Veena - naada-yoga-salvation. • Varities of veenas,and string- instruments. Famous Vainikas. • Raaga identification by soft ware technology. • Present status of Divine veena in India and outside
This comprehensive textbook covers all essential auditing concepts and practices, providing students with a solid foundation in the field. Combining theoretical insights with practical examples and regulatory frameworks ensures a holistic understanding of the subject, preparing students for academic success and professional excellence. It is designed specifically for undergraduate students at the University of Delhi, aligning with the syllabus requirements for B.Com. (Hons.) and B.Com. courses. The Present Publication is the 2024 Edition, based on the New Education Policy (NEP). This book is authored by Dr Aruna Jha and CA (Dr) Anuj Bhatia, with the following noteworthy features: • [Concept Clarity] Concepts are explained in a lucid and concise manner, facilitating easy understanding for students at all levels of proficiency • [Practical Examples] Includes a large number of real-life examples to elucidate theoretical concepts and demonstrate their practical applications, bridging the gap between theory and practice • [Visual Aids] The book extensively uses tables, figures, and diagrams to enhance comprehension and retention of complex auditing principles • [Regulatory Analysis] Relevant Standards on Auditing issued by the Institute of Chartered Accountants of India are integrated at suitable places to ensure students are well-versed with current professional standards • [Landmark Cases] References to landmark cases with significant implications for auditing provide a contextual understanding of theoretical concepts within practical scenarios • [Legislative Provisions] Key provisions of the Companies Act, 2013, relating to accounts and audits are explained clearly and concisely, aiding students in understanding complex legislative requirements • [Chapter-end Questions] Important questions are provided at the end of each chapter to test students' knowledge and understanding of the topics covered, promoting self-assessment and revision The detailed contents of the book are as follows: • Introduction o This chapter lays the foundation for understanding the fundamentals of auditing. It begins by defining auditing and outlining its primary objectives, focusing on the goals of financial audits. The chapter analyses various types of errors and frauds that auditors might encounter and discusses the broad scope of auditing practices. It also highlights the advantages of auditing while acknowledging the inherent limitations outlined in Standard on Auditing (SA) 200. Essential principles guiding audit practices are also discussed, providing a comprehensive introduction to the subject • Classification of Audit o This chapter categorizes audits based on different criteria, providing a structured understanding of the various types of audits. It starts with an introduction to audit classification and then examines audits based on organizational structure, specific objectives, and time. Each classification type is discussed in detail to help students understand the diverse nature and purposes of audits • Audit Planning and Documentation o Focusing on the initial steps of an audit, this chapter covers the critical considerations for commencing an audit. It explains the components of an audit programme and the purpose of an audit notebook. Additionally, it discusses the importance of thorough audit documentation to ensure a systematic and effective audit process • Internal Control Systems o This chapter discusses the components and significance of internal control systems within an organization. It explains the nature and purpose of internal checks and internal audits and examines the inter-relationships between internal control, internal checks, and internal audits. The chapter also includes specific transactions to highlight practical applications • Audit Evidence and Audit Sampling o Understanding the significance of audit evidence is crucial for effective auditing. This chapter explains the nature and importance of audit evidence as outlined in SA 500. It also covers methods such as test checking and selective verification and introduces the concept of audit sampling, highlighting its role in the audit process • Vouching o Vouching is a fundamental aspect of auditing, and this chapter provides a comprehensive overview of its meaning, objectives, and importance. It details the procedures for routine checking and vouching and discusses the different types of vouchers. Specific sections cover vouching for credit sales, sales returns, purchase transactions, and entries on both the debit and credit sides of the cash book • Verification of Assets o This chapter analyses the concept of asset verification, distinguishing it from vouching and valuation. It outlines the objectives and procedures for verifying specific assets and liabilities, emphasizing the auditor's duties in this context. The chapter provides detailed guidelines for the verification of various types of assets and liabilities • Company Auditor | Appointment and Removal o Focusing on the legal and procedural aspects of appointing and removing company auditors, this chapter covers eligibility criteria, appointment processes, compulsory reappointments, and ceilings on the number of audits an auditor can undertake. It also discusses the remuneration, rights, duties, and liabilities of auditors as outlined in various sections of the Companies Act 2013 • Auditor's Report o This chapter discusses the audit report as a crucial means of communication between the auditor and stakeholders. It explains the revised SA 700 series and the elements of an audit report, differentiating between various types of reports. Special attention is given to audit reports for limited companies • Liabilities of Auditor o Understanding the liabilities associated with the auditing profession is essential for auditors. This chapter introduces the classification of liabilities, including civil liabilities under common law and liabilities under the Companies Act 2013. It provides a detailed examination of the potential legal repercussions auditors may face • National Financial Reporting Authority (NFRA) o This chapter provides an in-depth look at the National Financial Reporting Authority (NFRA), including its evolution, background, powers, functions, and duties. It discusses the companies and auditors governed by NFRA and the composition of the authority. The chapter also examines the rise of NFRA and its relationship with the Institute of Chartered Accountants of India (ICAI) • Audit of Banking Companies o This chapter focuses on the unique aspects of auditing banking companies. It starts with an introduction to the banking system in India and the peculiarities of banks. The chapter covers different types of bank audits and the framework for auditing banking companies, with special emphasis on auditing key financial items in a bank's financial statements • Audit of Insurance Companies o Auditing insurance companies require specific knowledge and approaches. This chapter outlines the framework for auditing insurance companies, the preparation of auditor's reports for such companies, and the auditing of key financial items in the insurance business • Forensic Audit o Forensic auditing is a specialized area within auditing, and this chapter provides a comprehensive overview of its background, definition, and importance. It distinguishes forensic audits from financial audits and discusses the use of the fraud triangle by forensic auditors, relevant laws, standards, compliance issues, and the limitations of forensic auditing. • Audit in a Computerized Environment o This chapter addresses the challenges and strategies associated with auditing in a computerized environment. It covers audit strategies and approaches, computer-assisted audit techniques (CAATs), types of internal control in computerized information systems (CIS)/electronic data processing (EDP) environments, audit trails, and the implications of auditing in a computerized setting based on SA 315 and SA 330
Elements of Auditing is a comprehensive guide designed for students pursuing undergraduate courses at the University of Allahabad, mainly catering to the syllabus of B.Com. | Part-II, Group' E', Paper-203 – Auditing. This book provides an in-depth analysis of auditing principles and practices structured to facilitate a clear and detailed understanding of key auditing concepts. It integrates relevant Standards on Auditing issued by the Institute of Chartered Accountants of India, offers insights into landmark cases, and covers pertinent provisions of the Companies Act, 2013 concisely and straightforwardly. The Present Publication is the Latest Edition authored by Prof. (Dr) Aruna Jha, Anuj Bhatia and Dr Ruchi Gupta with the following noteworthy features: • [Clear and Lucid Explanations] Concepts are explained straightforwardly and concisely, making the subject accessible to students • [Practical Examples] Numerous examples are provided throughout the text to illustrate real-life applications of auditing concepts, helping students connect theory with practice • [Extensive Use of Tables and Figures] Visual aids such as tables and figures are used extensively to clarify complex concepts and enhance understanding • [Integration of Relevant Statutes] The book incorporates relevant statutes and regulatory requirements, ensuring that students are well-versed in the legal aspects of auditing • [End-of-Chapter Questions] Each chapter concludes with important questions designed to test students' knowledge and understanding of the topics covered, aiding in exam preparation The structure of the book is as follows: • Introduction o The book begins by covering auditing basics, including its meaning, scope, objectives, and limitations. It discusses the audit process and different types of audits (interim, final, continuous, internal, and external) and compares auditing with investigation • Internal Check o This chapter discusses the concept of internal check, its objectives, and its implications. It distinguishes internal check from internal control and internal audit and details essential features of a sound internal check system across various areas such as purchases, sales, stock, and payroll • Vouching of Transactions o This chapter discusses the meaning, objectives, and principles of vouching. It covers the reliability of vouchers, vouching of specialised and trading transactions, and the significance of vouching cash transactions • Verification and Valuation o This chapter explains the verification and valuation of assets and liabilities, outlining general principles and auditor duties. Guidelines from the Institute of Chartered Accountants of India are included, along with specific procedures for various types of assets and liabilities • Company Auditor o This chapter covers the appointment, qualifications, disqualifications, remuneration, and removal of company auditors. It also details the rights, duties, powers, and liabilities of auditors under the Companies Act 2013 • Auditor's Report o This chapter analyses the scope, content, and types of audit reports, including qualified, modified, and unqualified reports. Considerations for making qualifications in reports and specimen formats are also provided. • Audit of Banking and Insurance Companies o This chapter addresses the unique aspects of auditing banking and insurance companies, detailing the specific points and frameworks applicable to these audits • Cost Audit and Management Audit o This chapter explains the objectives, significance, and processes of cost and management audits. It also discusses the professional misconduct aspects relevant to cost audits under the Cost Accountants Act • Tax Audit and Secretarial Audit o This chapter covers the meaning, objectives, and processes involved in tax and secretarial audits, providing a comprehensive understanding of these specialised areas of auditing • Audit Planning and Documentation o This chapter focuses on considerations for commencing an audit, including the creation of an audit programme and maintaining proper audit documentation • Audit Evidence and Sampling o This chapter discusses the importance of audit evidence and the principles of audit sampling, including test checking and selective verification • Specialised Audits o The chapter covers audits specific to banking and insurance companies, elaborating on their frameworks, key financial items, and the peculiarities of these industries • Liabilities of Auditor o The book concludes with a detailed examination of the civil and statutory liabilities of auditors under common law and the Companies Act 2013
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