Auditing Osmania University BCOM 3rd Semester 2025-26 Notes

Unit 1  
Auditing, Meaning, Definition, Evolution, Objectives, Types, Advantages and Limitations VIEW
Standards of Auditing VIEW
Procedure for Issue of Standards by AASB- SA 200 VIEW
Objective of an Independent Auditor VIEW
Conduct of an Audit in Accordance with Standards of Auditing VIEW
Auditor, Appointment, Qualities, Remuneration, Qualification and Disqualification, Power, Removal, Rights and Duties VIEW
Civil and Criminal Liabilities of Auditors VIEW
Unit 2  
Commencement of Audit VIEW
Engagement Letter VIEW
Agreeing the terms of Audit Engagement VIEW
Audit Planning, Meaning and Objectives, Nature and Extent of Planning VIEW
Audit Strategy VIEW
Relationship between Audit Strategy and Audit Plan VIEW
Contents of Audit Plan VIEW
Audit Programme VIEW
Circumstances Requiring Alteration of Audit Programme VIEW
Audit Documentation, Meaning and Importance VIEW
Permanent and Current Audit Files VIEW
Audit Note Book VIEW
Audit Workbook / Audit Working Papers VIEW
Audit Markings VIEW
Unit 3  
Understanding the Entity and its Environment VIEW
Identifying and Assessing Risks of Material Misstatement at Financial Statement level & Assertion level VIEW
Materiality in Audit, Meaning and Significance of Materiality VIEW
Materiality in Planning and Performing an Audit VIEW
Audit Risk, Meaning, Components, Inherent Risk, Control Risk, Detection Risk VIEW
Risk of Material Misstatement VIEW
Relationship between Materiality and Audit Risk VIEW
Internal Control, Meaning, Objectives, Component VIEW
Internal Audit, Meaning, Functions and Scope VIEW
Roles and Responsibilities of Internal Auditor VIEW
Internal Check Vs. Internal Audit VIEW
Internal Control vs. Internal Audit VIEW
Internal Audit Vs External Audit VIEW
Unit 4  
Audit Evidence, Meaning, Definition, Procedures, Sources, Importance VIEW
Concepts of Sufficiency and Appropriateness of Audit Evidence VIEW
Reliability of Audit Evidence VIEW
Auditor’s Response to Assessed Risks VIEW
Test of Control VIEW
Substantive Procedures, Analytical Procedures & Test of Details VIEW
Vouching, Meaning and Objectives VIEW
Verification of various Assets and Liabilities VIEW
Valuation of various Assets and Liabilities VIEW
Unit 5  
Audit Completion Procedures VIEW
Audit Report, Elements of an Audit Report VIEW
Types of Audit Opinions VIEW
Emphasis of Matter and Other Matter Paragraph VIEW

Leave a Reply

error: Content is protected !!