Description

Vertical 4 : VSC / SEC

Vocational Skills in Accounting – VI (Auditing)

SYBCOM Semester IV

Syllabus As Per NEP 2020 Academic Year 2025-26

Module 1 : Auditing Techniques and Internal Control System 15 Hours
♦ Test Check : Test Checking vs Routine Checking, Test Check Meaning, Features, Factors to be Considered, When Test Checks can be Used, Advantages, Disadvantages, Precautions
♦ Audit Sampling : Audit Sampling, Meaning, Purpose, Factors in Determining Sample Size – Sampling Risk, Tolerable Error and Expected Error, Methods of Selecting Sample Items, Evaluation of Sample Results, Auditors Liability in Conducting Audit Based on Sample
♦ Internal Control : Meaning and Purpose, Review of Internal Control, Advantages, Auditors Duties, Review of Internal Control, Inherent Limitations of Internal Control, Internal Control Samples for Sales and Debtors, Purchases and Creditors, Wages and Salaries. Internal Checks vs Internal Control, Internal Checks vs Test Checks
♦ Internal Audit : Meaning, Basic Principles of Establishing Internal Audit, Objectives, Evaluation of Internal Audit by Statutory Auditor, Usefulness of Internal Audit, Internal Audit vs External Audit, Internal Checks vs Internal Audit

Module 2 : Audit of Items of Financial Statements 15 Hours
♦ Audit of Income : Cash Sales, Sales on Approval, Consignment Sales, Sales Returns Recovery of Bad Debts Written Off, Rental Receipts, Interest and Dividends Received Royalties Received
♦ Audit of Expenditure : Purchases, Purchase Returns, Salaries and Wages, Rent, Insurance Premium, Telephone Expense Postage and Courier, Petty Cash Expenses, Travelling Commission Advertisement, Interest Expense
♦ Audit of Assets Book Debts / Debtors, Stocks : Auditors General Duties, Patterns, Dies and Loose Tools, Spare Parts, Empties and Containers Quoted Investments and Unquoted Investment Trade Marks / Copyrights Patents Know-How Plant and Machinery, Land and Buildings, Furniture and Fixtures
♦ Audit of Liabilities : Outstanding Expenses, Bills Payable, Secured Loans Unsecured Loans, Contingent Liabilities