Format approved by the Academic Review Board, JGLS
COURSE MANUAL
Subject
AUDIT PRACTICE AND SECRETARIAL PRACTICE
Spring 2024
(AY 2023-24)
Name of Faculty
Prof. Kousik Ganguly
Prof. Arnab Bose
Prof. Pankaj Gupta
Prof. Sandhya Gupta
Course Coordinator
Prof. Sandhya Gupta
Format approved by the Academic Review Board, JGLS
CONTENTS
PART I
General
Information……………………………………………………………………………
…Page
PART II
a. Course
Description…………………………………………………………………Page
b. Course Aims…………………………………………………………………………
Page
c. Intended Learning Outcomes ………………………………………………
Page
d Grading of Student Achievement……………………………………………
Page
PART III
a. Keyword Syllabus…………………………………………………………………
Page
b. Course Policies……………………………………………………………………
Page
PART IV
a. Weekly Course Outline
…………………………………………………………..Page
b. Readings……………………………………………………………………………
… Page
Format approved by the Academic Review Board, JGLS
PART I
General Information
General Information on, Audit Practice and Secretarial Practice,
offered by Jindal Global Law School
for the AY 2023-24
The information provided herein is by the Course Coordinator. The
following information contains the official record of the details of the
course.
This information shall form part of the University database and may
be uploaded to the KOHA Library system and catalogued and may be
distributed amongst the first year Law students for B.A.LL.B. (Hons),
B.B.A.LL.B. (Hons); B.Com. LL.B. (Hons), B.A. (Hons) Legal Studies,
B.A. (Hons) Gender Studies; B.A. (Hons) Human Rights; B.A. (Hons)
Criminology and Criminal Justice; LL.B.; and LL.M. courses if
necessary.
Format approved by the Academic Review Board, JGLS
Course
Title: Audit Practice and Secretarial Practice
Course
Code: L-CB-0022
Course
Duration: One Semester
No. of Credit
Units: 4
Level: Undergraduate
Medium of
Instruction: English
Format approved by the Academic Review Board, JGLS
PART II
a. Course Description and Aims
The course will focus on the basic concepts of Audit Practice and
Secretarial Practice. Finance and Accounting function within the
framework of Law. Businesses carried by the Corporates use huge
money of the public, consume natural resources and in turn impact
the GDP of a nation. There should be some way to examine and
ascertain whether these activities correctly and completely reflect the
transactions to which they purport to relate.
The study of Audit Practice will help to understand how to assess the
accuracy, validity, reliability, verifiability and timeliness of the
information and the process by which the information is produced.
The study of Secretarial Practice aims in imparting the understanding
and adherence of good corporate practice
b. Intended Learning Outcomes
The course instructors/facilitators hope that students will have the
following outcomes in varying degree from the course:
- Develop the understanding of accounting information.
- Develop understanding of the compliance of law.
- Develop the ability to comprehend the authenticity of the financial
information.
- Develop understanding of how these information can be
manipulated.
- Develop the understanding and need of a good corporate
governance.
- Develop the understanding of various internal control in the
business.
- Learn various auditing techniques.
Format approved by the Academic Review Board, JGLS
Course Weightag Teaching and Assessment Tasks/
Intended e Learning Activities
Learning Activities
Outcomes
By the end of the course, Class discussion,
students Role plays, Quiz, midterm tests,
should be able to: Selected Reading, Presentations, written
Games. Assignments and class
Basic Concepts 50% participation.
Compliance of 30%
Rules and Law
Practical 20%
Application
c. Grading of Student Achievement
To pass this course, students must obtain a minimum of 40% in the
cumulative aspects of coursework, e.g. moot, and final examination.
End of semester exam will carry 50 marks out of which students have
to obtain a minimum of 15 marks to fulfil the requirement of passing
the course.
The details of the grades as well as the criteria for awarding such grades
are provided below.
Letter Percentage Grade Definitions
Grade Of marks
O 80% and above Outstanding Outstanding
work with
strong
evidence of
knowledge of
the subject
matter,
excellent
organizational
capacity,
ability to
synthesize and
critically
analyse and
Format approved by the Academic Review Board, JGLS
originality in
thinking and
presentation.
A+ 75 to 79.75% Excellent Sound
knowledge of
the subject
matter,
thorough
understanding
of issues;
ability to
synthesize
critically and
analyse
A 70 to 74.75% Good Good
understanding
of the subject
matter, ability
to identify
issues and
provide
balanced
solutions to
problems and
good critical
and analytical
skills.
A- 65 to 69.75% Adequate Adequate
knowledge of
the subject
matter to go to
the next level
of study and
reasonable
critical and
analytical
skills.
B+ 60 to 64.75% Marginal Limited
knowledge of
the subject
matter,
irrelevant use
of materials
and poor
critical and
analytical
Format approved by the Academic Review Board, JGLS
skills.
B 55 to 59.75% Poor Poor
comprehension
of the subject
matter; poor
critical and
analytical skills
and marginal
use of the
relevant
materials.
B- 50 to 54.75% Pass “Pass” in a
pass-fail
course. “P”
indicative of at
least the basic
understanding
of the subject
matter.
NEW COURSE LETTER GRADES AND THEIR
INTERPRETATION
Lette
Percentag
r Grade
e of Interpretation
Grad Points
Marks
e
Pass 1: Pass with Basic
P1 45 - 49 2 understanding of the subject
matter.
Pass 2: Pass with Rudimentary
P2 40 - 44 1 understanding of the subject
matter.
Fail: Poor comprehension of the
subject matter; poor critical and
F Below 40 0 analytical skills and marginal use of
the relevant materials. Will require
repeating the course.
I Incomplete Extenuating circumstances
preventing the student from
Format approved by the Academic Review Board, JGLS
NEW COURSE LETTER GRADES AND THEIR
INTERPRETATION
Lette
Percentag
r Grade
e of Interpretation
Grad Points
Marks
e
completing coursework assessment,
or taking the examination; or where
the Assessment Panel at its
discretion assigns this grade. If
an "I" grade is assigned, the
Assessment Panel will suggest a
schedule for the completion of
work, or a supplementary
examination.
PART III
a. Keyword Syllabus
Audit Practice, Secretarial Practice, Investigation, Internal Control,
Audit Report, Vouching, Verification and Auditor.
b. Course/Class Policies
Cell Phones, Laptops and Similar Gadgets
Cell Phones
Cell phones to be kept away from the desk, except under the instruction of the faculty, inside the
bag in switch off or silent mode. If any student is found with cellphone in hand during the
running of the class, the cellphone will be confiscated from the student immediately.
Laptops and Similar Gadgets
Format approved by the Academic Review Board, JGLS
No laptop to be used unless instructed by the faculty. In case of notes writing, the faculty will
check the notes from time to time inside the class. Disciplinary actions may be taken if the
student does not comply with this policy.
Academic Integrity and Plagiarism
Learning and knowledge production of any kind is a collaborative process.
Collaboration demands an ethical responsibility to acknowledge who we
have learnt from, what we have learned, and how reading and learning from
others have helped us shape our own ideas. Even our own ideas demand an
acknowledgement of the sources and processes through which those ideas
have emerged. Thus, all ideas must be supported by citations. All ideas
borrowed from articles, books, journals, magazines, case laws, statutes,
photographs, films, paintings, etc., in print or online, must be credited with
the original source. If the source or inspiration of your idea is a friend, a
casual chat, something that you overheard, or heard being discussed at a
conference or in class, even they must be duly credited. If you paraphrase
or directly quote from a web source in the examination, presentation or
essays, the source must be acknowledged. The university has a framework
to deal with cases of plagiarism. All form of plagiarism will be taken
seriously by the University and prescribed sanctions will be imposed on
those who commit plagiarism.
Disability Support and Accommodation Requirements
JGU endeavours to make all its courses accessible to students. In
accordance with the Rights of Persons with Disabilities Act (2016), the JGU
Disability Support Committee (DSC) has identified conditions that could
hinder a student’s overall well-being. These include physical and mobility
related difficulties, visual and hearing impairment, mental health conditions
and intellectual/learning difficulties e.g., dyslexia, dyscalculia. Students
with any known disability needing academic and other support are required
to register with the Disability Support Committee (DSC) by following the
procedure specified at https://jgu.edu.in/disability-support-committee/
Students who need support may register any time during the semester up
until a month before the end semester examination begins. Those students
who wish to continue receiving support from the previous semester, must
re-register within the first month of a semester. Last minute registrations
and support might not be possible as sufficient time is required to make the
arrangements for support.
The DSC maintains strict confidentiality about the identity of the student
and the nature of their disability and the same is requested from faculty
Format approved by the Academic Review Board, JGLS
members and staff as well. The DSC takes a strong stance against in-class
and out-of-class references made about a student’s disability without their
consent and disrespectful comments referring to a student’s disability.
All general queries are to be addressed to
disabilitysupportcommittee@jgu.edu.in
Safe Space Pledge
This course may discuss a range of issues and events that might result in
distress for some students. Discussions in the course might also provoke
strong emotional responses. To make sure that all students collectively
benefit from the course, and do not feel disturbed due to either the content
of the course or the conduct of the discussions. Therefore, it is incumbent
upon all within the classroom to pledge to maintain respect towards our
peers. This does not mean that you need to feel restrained about what you
feel and what you want to say. Conversely, this is about creating a safe
space where everyone can speak and learn without inhibitions and fear.
This responsibility lies not only with students, but also with the instructor.
P.S. The course instructor, as part of introducing the course manual, will
discuss the scope of the Safe Space Pledge with the class.
PART IV
a. Weekly Course Outline
Introduction to Audit, concepts, principles, significance
and
Week 1 -2 limitations.
Types of Company Audit- Statutory Audit, Internal Audit,
Cost
Week 2-3 Audit etc.
Week 3-4 Tools of Auditing- Audit Plan, Audit Programme, Audit
evidence, Working Papers, Current Audit File and
Format approved by the Academic Review Board, JGLS
Permanent Audit File.
Audit Process, Internal Control, Audit Testing, and Audit
Sampling.
Week 4-5
Company Auditor- Qualification, appointment, removal.
Qualities of a Company Auditor. Rights, Duties, &
Responsibilities
Week 6-7 of an Auditor.
Concept of Vouching.
Verification and Valuation of Assets and Liabilities
(Introduction only)
Audit Report- Characteristics of a good Report. Recent
Trends.
Week 8
Investigation. Difference between Audit and Investigation.
Forensic Audit. Frauds.
Week 9
AI and Blockchain for sustainable development in India.
Accounting and auditing with blockchain technology and
artificial Intelligence. ESG. India and ESG. How the
reporting landscape of ESG is evolving in India
Week 10
Environmental Audit. Social Audit. Audit and Assurance.
Municipal Audit in India. Audit and Assurance.
Week 11
.
Company Secretary-definition, qualification, appointment,
dismissal, position, and role.
Week 12
Meetings and Proceedings- types, notice, agenda, making
motions, and resolutions.
Week 13
Company Documentation and Formation. Memorandum of
Association, ultra vires, Articles of Association,
Prospectus, and Statement in Lieu of Prospectus,
Week 14 Misleading Prospectus, Secretarial duties at each stage.
Week 15 Revision.
Format approved by the Academic Review Board, JGLS
b. Readings
Principles and Practice of Auditing by Dinkar Pagare
Secretarial Practice by M.C.Kuchhal
Audit and Assurance by Dr. Jayanta Ghosh.
Selected readings will be shared with the students as the course
progresses.
Individual course facilitators may make minor changes to the flow of discussion or add
readings without losing any essence of the course outcomes.
