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Home / Syllabus / Master of Commerce (M.Com.) / Advance Accountancy / Semester 3 / Advanced Auditing

Master of Commerce (M.Com.) Advanced Auditing Syllabus - Mumbai University

Advanced Auditing Syllabus.pdf
Mandatory course · Semester 3 · M.Com. Advance Accountancy · 4 credits · 100 marks

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Syllabus for Advanced Auditing

Mandatory course · Semester 3 · M.Com. Advance Accountancy · 4 credits · 100 marks

Module I: (2CREDITS)

  • Unit 1 Auditing Principles and Auditor’s Responsibilities
  • Standard on Auditing: Meaning and Introduction.
  • Objectives and Checklist of Auditor in accordance with SA 230.
  • Objectives and Checklist of Auditor in accordance with SA 240.
  • Objectives and Checklist of Auditor in accordance with SA 250.
  • Objectives and Checklist of Auditor in accordance with SA 260.
  • (Use Case Study method and Check list for teaching and evaluation)
  • Unit 2 Audit Planning, Strategy and Execution
  • SA 200 Commencing an Audit: Checklist.
  • Factors influencing Audit Strategy & Plan.
  • Audit Working Papers: Meaning and Relevance. 
  • Audit Working Paper on: Planning Scope of Engagement, Initial Audit Check list, Note on understanding client business, key people, Variance Analysis of Balance
  • Sheet and Profit and loss statement.
  • (Note Practical Problems on Variance Analysis are to be included)

Module II: (2CREDITS)

  • Unit 3 Audit Evidence
  • SA 500 and 501: Audit Evidence Considerations.
  • SA 505: External Communication.
  • SA 510: Initial Audit Engagement: Checking Opening Balances.
  • SA 530: Audit Sampling.
  • SA 550: Related Party Transactions.
  • (Use Case Study method and Check list for teaching and evaluation)
  • Unit 4 Audit Report
  • Meaning, Elements and Types of Audit Report.
  • SA 700: Forming an Opinion and Reporting on Financial Statements & Checklist.
  • SA 701: Communicating Key Audit Matters in the Independent Auditor’s Report.
  • SA 705: Modifications to the Opinion in the Independent Auditor’s Report.
  • SA 706: Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report.
  • Reading and Interpretation Extracts of Audit Report.
  • (Use Case Study method and Check list for teaching and evaluation)

Reference Books

  •  Guidance notes issued by Auditing and Assurance Standards Boardand The Institute of Chartered Accountants of India.  Arens, A. A., &Loebbecke, J. P. (2023). Audit Theory and Practice. Pearson Education Limited.  Arens, A. A., Elder, R. J., & Beattie, M. S. (2022). Auditing and Assurance Services. McGraw-Hill Education.  Hodge, T. D., Weiss, E. S., &Arens, G. (2021). Auditing: A Business Risk Approach. John Wiley & Sons.  Louwers, T. J., Vance, C. J., Ricketts, W. M., & Libby, R. H. (2020). Auditing: An Integrated Approach. McGraw-Hill Education.  Carmichael, D. R., Green, C. W., &Sethuraman, K. R. (2019). Professional Auditing. CCH Incorporated.  Desai, M. A., & Sundar, V. (A conceptual framework for auditing theory). Springer.  Mittal, V. K. (Auditing process and techniques). Taxmann Publications Pvt. Ltd.  Gupta, R. K. (Auditing). Sultan Chand & Sons.  Tulsian, P. C. (Auditing). Tulsian Publishers Pvt. Ltd.  Katzenmeyer, J. L. (The language of audit assertions and evidence). John Wiley & Sons.

Reproduced from the University of Mumbai syllabus for M.Com. (Advance Accountancy) under NEP 2020, in force from the academic year 2023-24. Wording is as printed in that syllabus. Module numbering is as printed there too.

The complete syllabus

This subject is cut from the University circular for its specialisation. Open a document here if you want the whole thing rather than a single subject.

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