📘 Elements of Auditing | Latest Edition (2025)
✒️ Authored by Prof. (Dr) Aruna Jha, Anuj Bhatia & Dr Ruchi Gupta, this textbook is a comprehensive, student-friendly guide specially designed for B.Com. | Part-II, Group 'E', Paper-203 – Auditing at the University of Allahabad. It offers an in-depth exploration of auditing principles, processes, and statutory provisions, with a focus on clarity and exam readiness.
🔍 Key Features:
✅ Lucid & Accessible Explanations – Covers complex auditing concepts in a clear, concise, and beginner-friendly manner
✅ Practical Approach – Integrates real-life examples, case laws, and statutory references from the Companies Act, 2013 and Standards on Auditing (ICAI)
✅ Visual Aids – Rich use of tables, charts, and illustrations to simplify intricate procedures and comparisons
✅ Exam-Oriented – Includes chapter-end questions for self-assessment and reinforcement of key topics
✅ Statutory Integration – Covers latest auditing practices, regulatory updates, and legal obligations of auditors in India
🧑🎓 Who Should Read It?
📘 B.Com. (Part-II) Students at University of Allahabad
🎓 Undergraduate students studying auditing and assurance
📑 Exam aspirants seeking conceptual clarity and practice material
👨💼 Professionals or interns wanting a refresher on auditing basics
📚 Chapter-wise Overview:
1️⃣ Introduction to Auditing – Meaning, scope, types of audits, audit process, and difference between auditing & investigation
2️⃣ Internal Check System – Essentials, objectives, internal control vs internal audit, and area-wise internal check mechanisms
3️⃣ Vouching of Transactions – Principles, techniques, cash vs trading vouching, reliability of vouchers
4️⃣ Verification & Valuation – Auditor duties, asset & liability valuation methods, and ICAI guidelines
5️⃣ Company Auditor – Provisions under Companies Act, 2013: Appointment, duties, rights, liabilities
6️⃣ Audit Report – Types of reports (qualified, unqualified, modified), drafting considerations, and sample formats
7️⃣ Audit of Banking & Insurance Companies – Industry-specific frameworks and audit points
8️⃣ Cost & Management Audit – Objectives, methods, and professional standards under Cost Accountants Act
9️⃣ Tax & Secretarial Audit – Overview, relevance, legal framework, and audit methodologies
🔟 Audit Planning & Documentation – Audit programme, documentation standards, planning cycle
1️⃣1️⃣ Audit Evidence & Sampling – Types, importance, test checking, and sampling methods
1️⃣2️⃣ Specialised Audits – Sector-specific audits and their procedural requirements
1️⃣3️⃣ Liabilities of an Auditor – Civil, statutory, and criminal liabilities under Indian law
📖 A well-structured, exam-focused, and practical guide for understanding and applying core auditing principles with confidence.
