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COMSATS-Islamabad

Event:. Continuous Management Development. COMSATS-Islamabad. Financial Management Governance. Topic. AUDITING: Types, Tools, Techniques and Emerging Trends. Theme:. Presentation by. Prof. Dr. Khawaja Amjad Saeed.

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COMSATS-Islamabad

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  1. Event: Continuous Management Development COMSATS-Islamabad Financial Management Governance Topic AUDITING: Types, Tools, Techniques and Emerging Trends Theme: Presentation by Prof. Dr. Khawaja Amjad Saeed Founder Principal, Hailey College of Banking & Finance, University of the Punjab, Lahore Pakistan (2003----), Member Governing Council, International Federation of Accountants (IFAC), New York (1997-2000), President, South Asian Federation of Accountants (SAFA) (1997), President, Institute of Cost and Management Accountants of Pakistan (1997-2000), President, Association of Management Development Institutions of South Asia (AMDISA) (1993-96), Pro Vice-Chancellor University of the Punjab, Lahore (1994-1996), Founder Director, Institute of Business Administration (IBA), University of the Punjab, Lahore (1973-1996).

  2. WELCOME TO OUR PROGRAM Presentation Framework The Rise of Auditing Objectives of Audit Auditing Procedures Types of Audit Auditor of a Limited Company Liabilities of an Auditor International Standards on Auditing Future Trends

  3. 1: The Rise of Auditing Origin Definition Differentiation between Accounting & Auditing Qualities of an Auditor

  4. 2: Objectives of Audit Detection and Prevention of errors and mistakes Detection and prevention of Fraud Moral check Expression of an independent opinion

  5. 3: Audit Procedures • Traditional Approach: • Routine check • Vouching • Verification • Audit Report • Modern Approach: • Examining the Accounting System • Purview of Internal Control • Sampling: • Routine check • Vouching • Verification • Audit Review Report

  6. C:Tools and Techniques: • Analytical Procedures: • Significant Ratios • Trends • Investigation of Unusual fluctuations • Substantive Procedures: • Tests of transactions and balances • Techniques: • Observations • Inquiries • Confirmation • Re-calculations • Re-performance

  7. 4: Types of Audit First Set Internal Audit External Audit Management Audit Cost Audit Performance Audit Computer Audit Second Set Interim Audit Continuous Audit Final Audit

  8. 5: Auditor of a Limited Company • Appointment and Related Aspects • Independence • Lien • Status • Audit Committee • Auditor’s Report • Statutory Audit • Audit of Prospectus • Annual Audit • Certification of Directors Solvency of a Company on Voluntary winding up • Special Audit

  9. 6: Liabilities of an Auditor For negligence For Misfeasance Criminal Libel Honorary Appointment Dual Appointment Third Party

  10. 7: International Standards on Auditing Role of IFAC, New York IAS Board, New York 8: Future Trends Corporate Governance Audit Committee Role Quality Dimensions Users Expectations THANK YOU FOR ATTENTIVE LISTENING ASK ANY QUESTIONS

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