Handbook on Internal Auditing

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Description
Guidance on Internal Financial contorls over Financial reporting u/s 143(3) (i) of the Companies Act, 2013
•  Audit Risk and enterprise Risk Managment [ERM]
•  Internal Audit and Corporate Governance
•  Internal Audit Questionnaires and Checklists
•  Internal Audit Report
•  Illustrative Audit Programmes
It gives me immense pleasure to present before the readers the fourth edition of the book on 'Handbook on Internal Auditing'. The significance of Internal Audit is increasing day by day not only as a part of good corporate governance practices but also on account of an enterprise's objective to ensure its smooth functioning. Internal audit also serves an important tool for the external auditor while conducting the statutory audits.
The unique features of this book are as follows:
1.   Every engagement for internal audit should preferably be made by way of
      'Engagement Letter'. Accordingly, this book discusses the essentials of
      'Engagement Letter' alongwith a 'Specimen Internal Audit Engagement Letter';
2.   The role of Internal Audit function has increased as a result of Corporate
      Governance requirements (such as Clause 49, SOX). A separate chapter has been
      dedicated towards discussing the relationship of internal audit function with
      corporate governance;
3.   The above features are supplemented with illustrative Internal Control Questionnaires,
      Internal Audit Checklists and Audit Programmes;
4.   Contains primer Guidance Note on reporting under section 143(3) (i) of the companies act, 2013 w.r.t. internal controls over         financial reporting ;
5.   contains guidance notes on auditing aspects and auditing standards, issued by the institute of chartered accountants of india;
6.   gist of all the accounting standards issued by ICAI is also incorporated in this book;
7.   A separate chapter has been dedicated for drafting internal audit report;
8.   Internal audit charter is a pre-requisite for good corporate governance. keeping this in mind, a specimen internal audit charter is also incorporated in the present handbook;
9.   Specimen risk control matrix;
10. The present book also incorporates a primer on enterprise risk management (ERM)
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Contents
Chapter 1.    Auditing – Nature and Basic Concepts
Chapter 2.    Internal Audit under  Companies Act, 2013
Chapter 3.    Preparation for an AuditInt
Chapter 4.    Internal Control
Chapter 5.    Audit in CIS Environment
Chapter 6.    Risk and Enterprise Risk Management (ERM)
Chapter 7.    Establishing Risk Strategy
Chapter 8.   Undertaking Risk Assessment
Chapter 9.    Engagement Letter
Chapter 10. Internal Audit and Companies (Auditor’s Report) Order,2020
Chapter 11.  Internal Audit and Corporate Governance
Chapter 12.  Internal Control Questionnaire
Chapter 13.  Internal Control Assessment Audit Questionnaire
Chapter 14.  Risk Control  Matrix
Chapter 15.  Internal Audit Checklist
Chapter 16.  Internal Audit Report
Chapter 17.  Management and Operational Audit
Chapter 18.  Investigations
Chapter 19.   Other Aspects in Internal Audit ~ Audit Risk Model and Business Control Sheet
Chapter 20.   Guidance Notes on Auditing Aspects
Chapter 21.  ICAI Guidance Notes on Internal Financial Controls over Financial Reporting
Chapter 22.  Gist of Accounting Standards
Chapter 23.  Code of Ethics
Chapter 24.  Miscellaneous Internal Audits
Chapter 25.  Illustrative Audit Programmes
Chapter 26.  Appendices
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Author Details
Mr. Kamal Gang is an associate member of the Institute of Chartered Accountants of India. He is first class graduate from Deen Dayal Upadhyaya College, University of Delhi. His areas of interest include accounting and auditing. He has contributed articles for Students' Newsletter of ICAI and other professional journals. He has participated at Seminars as a speaker and is an eminent faculty on auditing, teaching students across India at leading coaching institutes. He is also the author of 'Handbook on Company Balance Sheet and Profit & Loss Account', a very well received and widely appreciated book on the subject.
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