Suggestion (Audit Management) 1. Lecture sheet 1,2, 2. What is ethics 3. Fundamental principles of auditing 4.

Threads to fundamental principles & safeguard. 5. Safeguard from Threads 6. Quality control process in Audit firm.(BSA 220) 7. Quality control process in individual audit.(BSA220) 8. types of documents working paper ordinarily includes.(BSA 220) 9. Knowledge of the business process.(BSA 310) 10. What is audit risk? Types of audit risk. Relationship of the component of audit risk. (BSA 400) 11. Inherent limitation of internal control system. (BSA 400) 12. Control procedures. (BSA 400) 13. What is CAAT? In Computer Information Systems Environment how auditor conduct its audit procedures? (BSA 401) 14. Reliability of audit evidence. 15. Audit procedure for obtaining audit evidence. 16. Types of subsequent events and necessary steps of auditor. 17. How auditor ascertain going concern problem in a company 18. Management representation letter 19. BSA 505, 510, 520, 550, 600, 610 & 620 Brief summary 20. Contents of auditors report. (BSA 700) 21. Definition of unqualified opinion, qualified opinion, adverse opinion, disclaimer opinion & modified opinion. 22. Distinguish between different type of audit report. 23. Requirement of audit report for listed co, unlisted co, bank, insurance co 24. SEC requirements of directors report regarding corporate governance. 25. Value Added Statement 26. Judgment of Audit Opinion in different situation considering materiality. 27. Draft Proxy Form 28. Draft Engagement letter 29. Audit Program for : a) Fixed Asset b) Inventory c) Cash & bank balance d) Creditors & accruals. e) Profit & Loss account.

WHAT ARE ETHICS ? A sense of agreement in a society as to what is right and wrong. Ethics represent a set of moral principles, rules of conduct or values. Ethics apply when an individual has to make a decision from various alternatives regarding moral principles. IFAC Code of Ethics - fundamental principles for all Accountants: Integrity (Sec 110) Objectivity (Sec 120) Professional Competence and Due Care (Sec 130) Confidentiality (Sec 140) Professional Behavior (Sec 150)

Integrity The principle of integrity imposes an obligation on all professional accountants to be straightforward and honest in performing professional services. It also implies fair dealing and truthfulness. Objectivity: The principle of objectivity imposes on all professional accountant not to compromise their professional or business judgment because of bias, conflict of interest or undue influence of others. Professional Competence and Due Care: A professional accountant has a continuing duty to maintain professional knowledge and skill at the level required to ensure that a client or employer receives competent professional service based on current developments in practice, legislation and techniques. Confidentiality: A professional accountant should respect the confidentiality of information acquired as a result of professional and business relationships and should not disclose any such information to third parties without proper and specific authority. Professional Behavior: A professional accountant should comply with relevant laws and regulations and should avoid any action that discredits the profession. Threats and Safeguards: Compliance with the fundamental principles may potentially be threatened by a broad range of circumstances. Many threats fall into the following categories: o Self-interest threats o Self-review threats o Advocacy threats o Familiarity threats o Intimidation threats