1
Important areas in Advanced Auditing chapter wise for June
2009 Examination by Ganpathy Sir
Chapter 4- The Company Auditor
1. Functions of an auditor under Co’s Act,1956 ---pg 4.19
2. Exemption of branches from audit requirements in certain situationspg
4.27
3. Gist of imp circulars –one reading-------pg 4.34
Chapter 5- company Audit
1. Types of registers--------pg 5.7
2. Personal exp of directors--------pg.5.9
3. Sec 205------pg 5.21
4. Transfer to reserves exceeding 10% condns-pg 5.25
5. Defns: Capital reserve, Capital receipts.-------pg 5.31
6. Interim Dividend-----pg 5.37
7. Non provn of proposed dividend, non provn of tax in the accounts--
-----pg 5.41
Chapter 6- Audit Report
1. Director’s comments on qualifications -------pg 6.23
2. Short notes on Loan outstanding, Turnover.
3. Imp points in comments of matters to b included in report
Paragraph Comments
4(i)(a) 2,3
4(i)(b) 3
4(i)(c) 3,4
4(ii)(a) 3
4(ii)(b) 2
4(ii)(c) 2
4(iii)(a) 1
4(iii)(b) 2
4(iii)(c) 2
4(iii)(d) 1,2
4(iv) 3,4,5
4(v)(a) all
4(v)(b 2
4(vi) 2,3,4,5
4(vii) 2,3
4(viii) 3
2
4(ix)(a) 3,4,5
4(ix)(b) 1,2
4(x) 2,3,4
4(xii) 5
4(xiii) all
4(xiv) 2,5
4(xv) 1,2,5
4(xvi) 2,3
4(xvii) 1
4(xviii) all
4(xix) 2
4(xx) 2
4(xxi) 1,2,6
Chapter-7 EDP Audit
1. Short notes: Batch processing, real time processing--------pg 7.3
2. Specific problems of EDP relating to Internal Control--------pg 7.5
3. Internal Control in a computer based system---------pg 7.14
4. Service Bureau------------pg 7.26
Chapter 8 Investigations:
1. Difference between auditing and investigation---------pg 8.2
2. Spl issues in investigations--------pg 8.6
3. types of investigations- non statutory-------pg8.15
4. Financial due diligence-------pg 8.36
5. Contents of a due diligence report---------pg 8.42
Chapter10– Audit of PSU
1. Propriety Audit------pg 10.7
Chapter 11 Audit of Banks
1. Bills for collection, Bills purchased, Loans n advances, credit card
operations--------pg 11.20
2. Money at call and short notice--------pg 11.23
3. Investments--------pg 11.25
4. Threats in recovery, erosion in the value of security---------pg 11.39
5. CDR---------pg 11.41
6. Third party guarantees--------pg 11.60
7. Contingent liabilities-------pg 11.71
8. Concurrent audit------pg 11.77
3
Chapter 12- Audit of Gen Ins Cos
1. Legal Framework-pg 12.1
2. Part I and Part IV of IRDA Reg 2002---------pg 12.7
3. Auditor’s report------pg 12.18
4. Audit procedures---------pg. 12.21
5. Verification of claims,commission, operating exp-----pg
12.26,12.28,12.29
6. Investments---------pg 12.30
7. Unexpired risk reserves and reinsurance--------pg 12.37
8. Co insurance, Solvency margin ---------pg 12.44
Chapter 13 Tax Audit
1. tax audit u/s 44AB-------pg 13.4
2. Form 3CD-------pg 13.16
Chapter 14 Audit of members of Stk Exchanges
1. Margins--------pg 14.5
2. Rolling settlement-------pg 14.12
3. Circuit filters and circuit breakers--------pg 14.14
4. Contract notes--------pg 14.19
Chapter 15 Spl Aspects
1. Audit of NBFCs--------pgs1 to 11
2. Audit of cooperatives societies-----pg 15.18
3. Audit of mutual fund
4. SN: board of directors, independent directors, audit committee------
--pg 15.47
5. Peer review-pg 15.60
Chapter 17- professional ethics
1. Other misconduct
2. Maintenance of branch offices
3. Part I of First Schedule-Clauses 2,4,67,11
Part III of First Schedule Clauses 2
Part I of Second schedule clauses 1,4,8
4
Chapter 18 Mgt and Operational audit
1. Desirability of mgt audit ----------pg 18.5
2. Behavioral aspects of mgt audit-------pg 18.15
3. Audit objectives--------pg 18.27
Important AAS- 1,6,10,12,13,16,19,21,22,26,28,31
Preference to b given to Professional ethics and company audit and AAS.
CAclubindia
