B.Com. (Accounting and Finance) Auditing II Syllabus - Mumbai University
This is the FY BAF syllabus under NEP 2020, in force from the academic year 2024-25. The University still sets the earlier Choice Based syllabus below alongside it for ATKT candidates, so check which scheme your exam form names before you revise.
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Syllabus for Auditing - II
Unit I: Auditing Techniques
- Test Check- Test Checking Vs Routing Checking, Test Check Meaning, Features, Factors to be considered, When Test Checks can be used, Advantages, Disadvantages and Precautions.
- Audit Sampling- Audit Sampling, Meaning, Purpose, Factors in Determining Sample Size - Sampling Risk, Tolerable Error and Expected Error, Methods of Selecting Sample Items Evaluation of Sample Results, Auditors Liability in conducting Audit based on Sample.
- Internal Control- Meaning and Purpose, Review of Internal Control, Advantages, Auditors Duties, Review of Internal Control, Inherent Limitations of Internal Control, Internal Control Samples for Sales and Debtors, Purchases and Creditors, Wages and Salaries, Internal Checks Vs Internal Control, Internal Checks Vs Test Checks.
Unit II: Reading of Ledger Account
- Reading of Ledger like Purchase, Sales, Assets, Liabilities.
- B/R, B/P, Cash Book [Practical Questions should be Asked on Reading of Ledger Accounts]
Unit III: Vouching
- Audit of Income- Revenue from Sales and Services, Rental Income, Interest & Dividends Income, Royalties Income, Recovery of Bad debts written off, Commission Received.
- Audit of Expenditure- Purchases, Salaries & Wages, Rent, Insurance Premium, Telephone expense, Petty cash payment, Advertisement, Travelling Salesmen’s Commission, Freight, Carriage and Custom Duties.
Unit IV: Verification
- Audit of assets: Plant & Machinery, Furniture, and fixtures, Accounts Receivable, Investments, Inventory, Goodwill, Patent Rights.
- Audit of Liabilities: Outstanding Expenses, Accounts Payable, Secured loans, Unsecured Loans, Contingent Liabilities, Public Deposits.
Reference Books
- 1 Contemporary Auditing by Kamal Gupta, Tata Mc-Graw Hill, New Delhi
- 2 A Handbook of Practical Auditing by B.N. Tandon, S. Chand and Company, New Delhi
- 3 Fundamentals of Auditing by Kamal Gupta and Ashok Arora, Tata McGraw Hill, New Delhi
- 4 Auditing: Principles and Practice by Ravinder Kumar, Virender Sharma, PHI Learning Pvt. Ltd., New Delhi
- 5 Auditing and Assurance for CA IPCC by Sanjib Kumar Basu, Pearson Education, New Delhi
- 6 Contemporary Auditing by Kamal Gupta, McGrow Hill Education Pvt. Ltd., New Delhi
- 7 Fundamentals of Auditing by Kamal Arora and Ashok Gupta, Tata McGraw Hill, New Delhi
- 8 Jha & Shah, (2018) Advance Auditing, Himalayan Publication, Mumbai.
Reproduced from the University of Mumbai syllabus for B.Com. (Accounting & Finance) under NEP 2020, in force from the academic year 2024-25. 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 year. Open a document here if you want the whole thing rather than a single subject.