K. J.
SOMAIYA COLLEGE OF ARTS AND COMMERCE
(Autonomous)
VIDYAVIHAR, MUMBAI
MUMBAI-77
Re-accredited
accredited by NAAC with ‘A’ grade and CGPA: 3.33
College with Potential for Excellence by UGC
(Affiliated
Affiliated to University of Mumbai)
SYLLABUS
AND
SCHEME OF EXAMINATION
Program: B.Com (Third Year)
Course: Financial Accounting & Auditing
SEM VI
As per
CHOICE BASED CREDIT AND GRADING SYSTEM
(75-25
(75 Marks Pattern)
(With effect from the Academic Year: 2021-20
2022)
K J Somaiya College of Arts and Commerce (Autonomous), Vidyavihar, Mumbai -400077 1
1. Name of the Programme : B.Com
2. Paper No. : Paper X
2. Course Title : Auditing
3. Code of the Course : UBCOMTSV.3
4. No. of Credits : 03
5. No. of lectures : 45
6. No. of lectures per week : 03
Preamble:
The course is introduced to make the students aware of auditing of financial records,
principles, standards on Auditing, Guidance Notes, methodology, various pronouncements
by ASB of ICAI and practical exposure alongside the record maintenance requirements and
also to enhance the analytical ability & help in informed decision making.
Objectives:
1. To provide adequate basic understanding about accounting, auditing and financial
education to the students.
2. To emphasize on conceptual knowledg
knowledgee and thereby prepare for professional courses and
make them employable in the fields of accounting and finance.
Course Outcomes:
CO1: Examine the provisions of Companies Act 2013 relating to auditors appointment,
removal, rights & duties etc.
CO2: Discuss the reporting
eporting done by the Auditors, the standards applicable for Audit Reports
& Companies Act 2013 compliances.
CO3: Analyze the auditing of different entities like Educational Institutes, hospital etc.
CO4: Explain thee auditing done under different
different Laws such as GST, Income Tax Laws etc.
K J Somaiya College of Arts and Commerce (Autonomous), Vidyavihar, Mumbai -400077 2
Syllabus Semester VI
Module 1: Company Audit (15 Lectures)
Rights and duties of auditor, Appointment and re removal
moval of auditor, Qualification &
disqualification, Auditor’s Remuneration, Independence of auditor, Types of audits.
audits
Module 2: Audit Reports (10 Lectures)
Format of Audit report, Types of audit reports, Reports and certificates, CARO
Module 3: Special Audit (10 Lectures)
Audit for educational
al institutions, trusts, clubs , hotels, hospitals
Module 4: Audit Under Different Laws (10 Lectures)
Cost Audit, Environmental Audit, Tax Audit, GST Audit, System Audit
K J Somaiya College of Arts and Commerce (Autonomous), Vidyavihar, Mumbai -400077 3
Evaluation Pattern
Internal
1) Class test – Online exam 20 Marks
2) Active participation 05 Marks
Sample MCQ questions for Internal Exam:
1. Manipulation of accounts is __________ fraud.
fraud
a. Employee
b. Management
c. Auditor
2. Auditor expresses his expert opinion through his _______.
_______
a. Audit report
b. Audit Note
c. Audit Working Papers
K J Somaiya College of Arts and Commerce (Autonomous), Vidyavihar, Mumbai -400077 4
External
Maximum Marks: 75
Questions to be set: 05
Duration: 2 ½ Hrs.
All Questions are Compulsory Carrying 15 Marks each.
Q. 1 Objective Questions 15 Marks
A) Sub Questions to be asked 10 and to be answered any 08
B) Sub Questions to be asked 10 and to be answered any 07
(*Multiple choice / True or False / Match the columns, Fill
in the blanks)
Q.2 Full Length Question 15 Marks
OR OR
Q.2 Full Length Question
stion 15 Marks
Q.3 Full Length Question 15 Marks
OR OR
Q.3 Full Length Question 15 Marks
Q.4 Full Length Question 15 Marks
OR OR
Q.4 Full Length Question 15 Marks
Q.5 A) Theory questions 8 Marks
B) Theory questions 7 Marks
OR
Q.5 Short Notes
To be asked 05 15 Marks
To be answered 03
Note: Full length question of 15 marks may be divided into two sub questions of 08 and 07
marks
References:
1. DolphyDsouza(2004), “Advanced Auditing”, Second Edition, Taxmann
2. CA SumitAggarwal(2014), “Advanced Auditing”, F
First
irst Edition, Spiraa Publishing
Inc
3. ArunaJha(2004),”Student’s guide to Auditing”, Third Edition, Taxmann
4. ArunaJha(2012), “Student’s guide to Auditing & Assurance”, Third Edition,
Taxmann
5. ArunaJha(2008),
), “Auditing & Assurance”, Eighth Edition, Taxmann
6. ArunaJha(2008), “ Auditing Problmes& Solutions”, First Edition, Taxmann
7. B.N.Tandon, S. Sudharsanam& S. Sundharaba
Sundharabahu(2009),
hu(2009), “Practical Auditing”,
Second Edition, S. Chand Publication
K J Somaiya College of Arts and Commerce (Autonomous), Vidyavihar, Mumbai -400077 5
Composition
osition of Subject Board 2020
2020-21
Head of Department Dr. Deelip Palsapure
Head of Commerce department
K. J. Somaiya college of Arts & Commerce,
Autonomous
Faculty from the department Dr. Mayuresh Mule
CA. Ketaki Ketkar
Subject Expert (Nominated by CA. Uday Shetty
Vice-chancellor) Associate Professor, RDAV College,
Bhandup
Subject Expert (Nominated by CA. (Dr.) Varadraj Bapat
Academic Council) Faculty of Finance, SJM School of Mgt.
Dr..Shital Mandhare
Assistant Professor, SNDT, Mumbai
Industry Representative Prof. Issac Jacob
SISMR, Vidyavihar
Student Alumnus Mr. Chetan Patil
M.Com. Part II
Ms. Divya Panchal
M.Com. Part II
K J Somaiya College of Arts and Commerce (Autonomous), Vidyavihar, Mumbai -400077 6
K J Somaiya College of Arts and Commerce (Autonomous), Vidyavihar, Mumbai -400077 7
