This is a detailed and complete Study on auditing. This course contains basic as well as advanced concepts in auditing. All Standards of Auditing are appropriately covered. The course is updated from time to time. The course starts from simple concepts and moves towards advanced concepts. Students are requested to completely study all the concepts and not miss any area.

The need for companies’ financial statements to be audited by an independent external auditor has been a cornerstone of confidence in the world’s financial systems. The benefit of an audit is that it provides assurance that management has presented a ‘true and fair’ view of a company’s financial performance and position. An audit underpins the trust and obligation of stewardship between those who manage a company and those who own it or otherwise have a need for a ‘true and fair’ view, the stakeholders

In general, an audit consists of evaluation of a subject matter with a view to express an opinion on whether the subject matter is fairly presented. There are different types of audits that can be performed depending on the subject matter under consideration, for example:

Audit of financial statements

Audit of internal control over financial reporting

Compliance audit