Important Topics for Advanced Auditing
1.	Appointment of Auditor by Special Resolution: Material date for 25% holding of subscribed share capital 
2.	Audit of Branch Accounts 
3.	Appointment of Special Auditor u/s 233A 
4.	Audit Strategy 
5.	Dividends and the related Rules on transfer of profits to reserves 
6.	Final Dividend vs. Interim Dividend 
7.	Corporate Form of Practice by CA 
8.	New Disciplinary Mechanism 
9.	Clause 5, 6, 7 and 8 of Part I, Schedule First 
10.	Clause 7 and Clause 10 of Part I, Schedule Second 
11.	Part IV and Part III of Schedule First and Schedule Second respectively 
12.	Guidelines for website by CA 
13.	Calculation of turnover u/s 44AB 
14.	Clause 12A, 17, 21, 24, 27 and 32 of Form 3CD 
15.	Audit of Public Trusts 
16.	True and Fair cost of production 
17.	Propriety Cost audit 
18.	Management Audit and its objectives 
19.	Financial Audit vs. Management Audit vs. Operational Audit vs. Internal Audit 
20.	Types of Management Audit Reports 
21.	Practical question on drafting Management Control Questionnaire (MCQ) 
22.	Audit Trail 
23.	Approaches to EDP Audit 
24.	Service Bureau 
25.	“The objective and scope of audit does not change in CIS environment.” Comment 
26.	Propriety Audit and its types 
27.	Propriety elements in CARO 
28.	Investigation on behalf of incoming auditor 
29.	Investigation for advancing loan 
30.	Practical Question 4 from Chapter 10 
31.	Due Diligence and contents of DDR report 
32.	CARO applicability on Private Limited Companies 
33.	Clauses of CARO dealing with: (i) End use of Funds, (ii) Section 301, (iii) Statutory Dues and (iv) Other Dues, (v) Frauds 
34.	Classification of Investments by Banks 
35.	Concurrent Audit 
36.	AS 11, AS 17 and Banks 
37.	NOSTRO and VOSTRO Accounts of Banks 
38.	Solvency Margin 
39.	Valuation of Investments by General Insurance Companies 
40.	Reinsurance 
41.	NBFC vs. Banks 
42.	Classification of NBFC as per new guidelines of RBI 
43.	Appointment of Auditor in Cooperative Societies 
44.	Borrowings and Loans for Cooperative Societies 
45.	Appropriation of Profits, Overdue Principal and Interest in case of Cooperative Societies 
46.	Excise Audit 2000 
47.	Accounting Aspects for Mutual Funds 
48.	Whole Chapter on Members of Stock Exchanges, specially Margins, Circuit Breakers, Contract Notes, Types of Market in NEAT system, Limit Orders, Types of books and records 
49.	New definition of Independent Directors under Clause 49 
50.	CEO/ CFO certification under Clause 49 
51.	Whistle Blower Policy 
52.	Audit Committee 
53.	Energy Audit and Environmental Audit 
54.	Peer Review 
55.	SOX 
56.	Clause 41 
57.	AAS 11, 26, 14, 15, 17, 23, 28, 29, 30 to 35 
58.	Drafting of (i) Letter of Engagement and (ii) Management Representation Letter 
59.	Guidance Notes: Independence of Auditors, Section 227(3)(e) and (f) reporting, Financial Information in Offer Document 
60.	Practice Paper 3 and Practice Paper 6 of the Book 

CA Kamal Garg

Author:
IFRS Concepts and Application
Auditor's Practice Manual
Accounting Standards and IFRS
Handbook on Company Balance Sheet and Profit & Loss Account
Handbook on Internal Auditing 
Professional Approach to Advanced Auditing for CA Final
Systematic Approach to Auditing and Assurance for PCC
(all published by Bharat Law House Private Limited, www.bharatlaws.com)