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

2. Presentation Framework
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:
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. THANK YOU FOR ATTENTIVE LISTENING ASK ANY QUESTIONS
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