Auditing & Corporate Governance

The following are some of the peculiarities of the Auditing & Corporate Governance Book

• Efforts have been made to make the subject-matter still more simple.
• The style of presentation has been made more interesting and grasping.
• The provisions of the Companies Act, 2013 and Rules made thereunder in 2014 have been incorporated in the book wherever necessary.
• The circulars and notifications issued by the Ministry of Corporate Affairs the Government of India have been utilized to make the book informative with the latest material.
• The purpose of corporate governance is to facilitate effective, entrepreneurial and prudent management that can deliver the long-term success of the company. Corporate governance is the system by which companies are directed and controlled. Boards of directors are responsible for the governance of their companies. The role of a shareholder in governance is to appoint the directors and the auditors and to satisfy themselves that an appropriate governance structure is in place. The responsibilities of the board include setting the strategic aims of the company and providing the leadership to put them into effect, supervising the management of the business and reporting to shareholders on their stewardship. Corporate governance is therefore about what the board of a company does and how it sets the values of the company, and it is to be distinguished from the day to day operational management of the company by full-time executives.

Auditing & Corporate Governance Book Syllabus

Unit I: Auditing: Introduction, Meaning, Objects, Basic principles and techniques; Classification of Audit,
Audit Planning, Internal Control—Internal Check and Internal Audit; Audit Procedure—vouching
and verification of Assets and Liabilities.

Unit II: Audit of Limited Companies: Company Auditor—Qualifications and disqualifications, Appointments,
Rotation, Removal, Remuneration, Rights and Duties, Auditor’s report—Contents and
types, Liabilities and Statutory Auditors under the Companies Act 2013.

Unit III: Special areas of Audit: Special features of cost Audit. Tax audit, and Management Audit; Recent
trends in auditing; Basic considerations of audit in EDP Environment; Standard on Auditing (SA); Relevant case studies/Problems.

Unit IV: Corporate Governance: Conceptual framework of Corporate Governance, Corporate Governance
Reforms, Major corporate scandals in India and Abroad, Common Governance problems noticed in various corporate failures, codes and standards on Corporate Governance.

Unit V: Corporate Social Responsibility: Strategic Planning and Corporate Social Responsibility; Corporate Philanthropy, Meaning of CSR, CSR and CR, CSR and Corporate Sustainability, CSR and Business Ethics, CSR and Corporate Governance, Environmental spect of CSR, CSR provision under the Companies Act 2013, CSR Committees.

Auditing & Corporate Governance Book Contents

Auditing

1. Introduction
2. Preparation Before and Procedure of Audit
3. Internal Control and Internal Check
4. Vouching
5. Vouching of Impersonal Ledger
6. Verification of Assets and Liabilities
7. Appointment, Remuneration, Rights and Duties of An Auditor
8. Company Audit
9. Auditor’s Report
10. Divisible Profits and Dividend
11. Liabilities of an Auditor

Corporate Governance

1. Corporate Governance
2. History and Evolution of Corporate Governance
3. Benefits of Corporate Governance and Its Present State In India
4. Regulatory Mechanisms of Corporate Governance
5. CSR Committees
6. Business Ethics and CSR
7. Corporate Scandals
8. Strategic Planning
9. Corporate Social Responsibility
10. Cost Audit [Revised On The Basis Of Companies Act, 2013 And Companies (Cost Records & Rules), 2014]
11. Tax Audit
12. Management Audit
13. Recent Trends in Auditing
14. Audit in a Computer Information System (Cis) Environment
15. Standard on Auditing