This comprehensive, well-received and thoroughly updated text, now in its Third Edition, continues to provide an in-depth analysis of the basic concepts of Auditing emphasising the practical aspects of the course.

The book discusses in detail, classification and preparation of an audit, internal control system, internal audit, vouching of cash, trading and impersonal ledgers in addition to other topics. Besides, it deals with verification and valuation of assets and liabilities, company audit, cost audit, management audit, tax audit, bank audit as well as depreciation. The final chapters of the book give detailed description of business investigations, audit of special entities and auditing in EDP environment.
Contemporary topics have been covered in the book to enlighten readers with the latest developments in the field of auditing, such as cost audit, tax audit, environmental audit and energy audit.

1. Introduction to Auditing

2. Classification of Audits

3. Audit Planning Procedures

4. Internal Control System

5. Internal Audit

6. Vouching: Concept and Importance

7. Vouching of Cash Transactions

8. Vouching of Trading Transactions

9. Vouching of Impersonal Ledger

10. Verification and Valuation of Assets and Liabilities—I

11. Verification and Valuation of Assets and Liabilities—II

12. Company Audit—I: Statutory Requirements Governing Company Auditors

13. Company Audit—II: Audit of Financial Statements

14. Company Audit—III: Audit Report

15. Auditor’s Liabilities

16. Cost Audit

17. Management Audit

18. Tax Audit

19. Depreciation

20. Reserves and Provisions

21. Profits and Its Divisibility

22. Audit of Banks

23. Business Investigations

24. Audit of Special Entities

25. Auditing in EDP Environment