Jharkhand Rai University, Ranchi
- Fees: ₹ 56000
Auditing Course Details - Fees, Subjects, Syllabus, Duration, Eligibility, Career Scope
Degrees offered: B.Com(Hons), Diploma, B.Com, M.Com, B.A.
What is Auditing
Auditing is the systematic examination and evaluation of an organisation's financial records and operations to ensure accuracy, compliance with applicable laws and regulations, and adherence to internal policies. It entails evaluating internal controls, risk management procedures, and financial statements in order to offer an unbiased assessment of the accuracy and dependability of the company's financial reporting.
Today almost all big companies, many private institutions, and even government departments and organisations have to get their financial statements inspected. The person who carries out this inspection is an auditor. An auditor, in general, has to give a fair opinion about the financial position of a company and whether the financial report of the entity reflects the transactions undertaken by it.
In India, auditing comes in various forms – tax audit, company audit, financial audit, compliance audit, management audit, and many others. The specifications to become an auditor can vary from one type to another. If one dreams of becoming an auditor, this article will definitely try to give a clearer picture of auditing in India.
Graduates of Auditing are offered job opportunities in profiles like Internal Auditor, Government Auditor, Personal Financial Advisor, Budget Analysts. These profiles are offered in Government Institutions, Finance Companies, Insurance Companies, Accounting Companies, Financial Management Consultancies for an average package of Rs. 10 LPA. The course fee for the same ranges from Rs. 6,000 to Rs. 10 lakhs.
Highlights- Auditing Course
Particulars | Values |
Branch Name | Auditing |
Degree | |
Duration | UG: 3 years PG: 2 years |
Eligibility | UG: Completion of 10+2 in any stream PG: Graduation in any field with a minimum 50 per cent aggregate. |
Admission Process | Admission Examination and merit scores |
Entrance Exam | UG: NPAT PG: CAT, XAT, MAT |
Course Fees | Rs. 6,000 - Rs. 10 lakhs |
Job Profiles | Internal Auditor, Government Auditor, Personal Financial Advisor, Budget Analysts |
Average Salary | Rs. 10 LPA |
Recruiting Companies | Government Institutions, Finance Companies, Insurance Companies, Accounting Companies, Financial Management Consultancies |
Specialisation or Similar Ones
Auditing is a broad discipline in accountancy. It includes similar or related specialisations. Candidates can choose the specialisations based on their interests and future goals. Some of the popular specialisations offered in the field of Auditing are mentioned in the table below.
Forensic Auditing | IT Auditing |
Tax Auditing | Compliance Auditing |
Top Auditing Colleges in India with Fees
Many finance and business institutes in India offer Auditing courses at affordable tuition fees. These colleges are highly reputed and provide good placement opportunities to graduates. Prior academic achievements and admission test scores are used to determine admission into the programme. Auditing is offered by several of India's top institutions.
Colleges | Fee Structure |
Rs. 90,000 | |
Rs. 3.12 Lakhs | |
Rs. 56,000 | |
Rs. 6.30 Lakhs | |
MGR Government Film and Television Training Institute, Chennai | Rs. 9.45 Lakhs |
Maniben Bhikhabhai College of Commerce and Shri Goswami MN Lalji Arts College, Dehgam | - |
- | |
- | |
- | |
Rs. 30,000 |
Top Private Auditing Colleges in India with Fees
Private Indian institutes offer Auditing for both undergraduate and postgraduate degrees. A private university education is significantly more expensive than a public university education. These colleges provide the best faculty and a technologically advanced college campus. Some of the top private universities and colleges for Auditing and their fees are discussed below:
Colleges | Fee Structure |
Rs. 2.37 Lakhs | |
Rs. 2.06 Lakhs | |
Rs. 6,800 | |
- | |
- | |
- | |
Smt RD Shah Arts and Smt VD Shah Commerce College, Ahmedabad | - |
The Dhansura Peoples Co Operative Bank Ltd Arts and Commerce College, Dhansura | - |
AKS University, Satna | Rs. 90,000 |
RIMT University, Gobindgarh | Rs. 3.12 Lakhs |
Top Government Auditing Colleges in India with Fees
Many top Government colleges of India provide Auditing courses. Attending a government engineering college is less expensive than attending a private college. These colleges are well known for their high academic standards and affordable fees throughout India. The following are some of the best government colleges that provide Auditing courses:
Colleges | Fee Structure |
MGR Government Film and Television Training Institute, Chennai | Rs. 9.45 Lakhs |
Government Science College, Chatrapur | - |
Nirmal Haloi College, Barpeta | - |
Rs. 3,190 |
Eligibility Criteria (UG & PG) of Auditing
Those interested in pursuing a course or a degree in Auditing need to fulfil the eligibility details required by the colleges. For undergraduate degrees, students generally need to complete their 10+2. For PG degrees, they require a Bachelor’s degree in similar or related disciplines. The eligibility details for Auditing courses are mentioned below.
Eligibility Criteria for UG Courses
Candidates who wish to pursue Auditing at an undergraduate level must satisfy certain eligibility criteria. Some of the most common eligibility conditions to get admission into the course are listed below:
- Aspirants must have completed their 10+2 in any stream from a reputed institution.
- They must score a minimum of 50 per cent marks in their 10+2 to get admission in a course of their choice.
- No age limit has been prescribed for admission into Auditing.
- Students may have to appear for entrance examinations if prescribed by respective colleges.
Top Entrance Exams for UG Courses
Aspiring candidates need to appear for certain entrance examinations before applying for admission. Some colleges may conduct university-specific examinations for Auditing courses. In the table below, we have provided the details of a popular examination for UG degrees.
Exam Name | Level | Conducting Body | Exam Schedule |
National | Narsee Monjee Institute for Management Studies (NMIMS), Mumbai | - |
Eligibility Criteria for PG Courses
The eligibility criteria to pursue a postgraduate degree in Auditing varies by the institute. Students who have completed their undergraduate in Auditing can further pursue their post-graduation in the same field. Aspirants must fulfil the required conditions to get admission into a college of their choice. Some basic eligibility requirements are listed below:
- Students applying for M.Com or MBA in Accountancy and Auditing must hold a bachelor’s degree in the related subject
- They must have completed their degrees with at least 55 per cent from a recognised institute in India.
- Aspirants may have to take PG Entrance exams as conducted by academic institutes.
Top Entrance Exams for PG Courses
Candidates who aspire to pursue their post-graduation must appear for certain relevant entrance examinations. Most colleges consider the entrance test results along with the merit scores of aspirants for granting them admissions. Students are required to clear the cutoff of these high-level tests to get admitted into a college of their choice. Some of the examinations are as follows.
Exam Name | Level | Conducting Body | Exam Schedule |
National | Indian Institutes of Management Lucknow | ||
University/National | XLRI, Jamshedpur | ||
National | All India Management Association |
Scope of Auditing in India and Abroad
Auditing is undertaken by almost every commercial and government entity. From auditing taxation to compliance of an entity, auditors have to deal with a lot of calculations and analysis. Auditing is not only a well-respected job, but it also is one of the highest-paid jobs in India. There are various types of auditing, and each one has its own requirement.
On getting a CIA certification, one is globally certified as an internal auditor. So, auditing has a very broad scope in terms of job choices. Auditing offers job positions from auditors, management analysts, and financial analysts to chartered accountants for big companies. Auditing is recognised not just in India but also worldwide. So, if one can clear auditing examinations that certify globally, they can end up in big corporations internationally.
Course Fees Auditing
| Minimum Fees | Maximum Fees | |||
|---|---|---|---|---|
| Private | Government | Private | Government | |
| UG |
2.06 Lakhs
B.Com in Auditing at Amrita School of Arts and Sciences, Mysore
|
3.19 K
B.Com(Hons) in Auditing at Janta Shivratri College, Daltonganj
|
10.00 Lakhs
B.Com(Hons) in Auditing at Anil Surendra Modi School of Commerce, Mumbai
|
3.19 K
B.Com(Hons) in Auditing at Janta Shivratri College, Daltonganj
|
| PG |
5.95 K
P.G.D in Auditing at All India Institute of Management Studies, Chennai
|
5.85 K
P.G.D in Auditing at Vardhman Mahaveer Open University, Kota
|
30.00 K
M.Com in Auditing at Monark University, Ahmedabad
|
5.85 K
P.G.D in Auditing at Vardhman Mahaveer Open University, Kota
|
| DIPLOMA |
7.90 K
Diploma in Auditing at Indian School of Business Management and Administration, Chennai
|
---
Data not available
|
56.00 K
Diploma in Auditing at Jharkhand Rai University, Ranchi
|
---
Data not available
|
Course Subjects
The syllabus for Auditing may vary depending on the level of the programme. The syllabus may also vary depending on the institution. The curriculum equips students with the necessary knowledge and practical exposure. Some of the subjects covered in the academic curriculum of auditing are as follows:
Accounting | Cost and Management Auditing |
Law and Ethics | Direct Taxation |
Cost and Management Accounting | Indirect Taxation |
Strategic Performance Management | Multi-disciplinary Case Study |
Customs and FTP | Advanced Auditing and Professional Ethics |
Business Valuation | International Taxation |
Fundamentals of Mathematics and Statistics | Internal Auditing |
External Auditing | Economics and Management |
Administrative Procedure and ICDS | Company Accounts and Audit |
Corporate Laws and Compliance | Strategic Cost Management |
Corporate Financial Reporting | Tax Laws and Practice |
Careers in Auditing
Auditing is a highly-demanding line of study and profession. It is well recognised globally and provides a wide range of career options. One can become an internal auditor for big companies, a government auditor,or the Comptroller Auditor General of India (CAG). Budget Analysts, personal financial advisor, management analyst, financial manager, are some of the career options after auditing.
Job Profiles | Job Descriptions |
Internal Auditor | An internal auditor maintains the financial records of a company and makes sure that all the internal business operations are being carried out in compliance with the law. They provide independent and objective assessments to improve operational performance and mitigate risks. |
Government Auditor | A government auditor maintains all government records and examines them in accordance with the rules and regulations prescribed by law. They assess financial records and operations to promote transparency, accountability, and efficient use of public resources. |
A personal financial advisor works for companies, assesses their financial conditions and advises them to ensure efficacy in order to achieve their business goal. They assess clients' financial situations and offer strategies for wealth management and risk mitigation. | |
A budget analyst reviews the budgets of entities and add new entries or make suitable changes in fund allocations for maximising profit and minimising loss. They analyse financial data to recommend budget allocations and monitor spending trends for effective resource management. |
Upcoming trends
New accounting and auditing applications have emerged for auditors. These are being taught in various courses offered by accounting and auditing institutions. Many new certification programmes have also emerged that help auditors in getting designations as global and national auditors. These trends reflect the evolving landscape of auditing, driven by technological advancements, regulatory changes, and evolving business practices.
- Increased Use of Data Analytics
- Focus on Cybersecurity Audits
- Integration of Artificial Intelligence
- Environmental, Social, and Governance (ESG) Audits
- Remote Auditing Practices
Job Profiles and Top Recruiters
Auditing job profiles cover a variety of positions essential to guaranteeing regulatory compliance, organisational effectiveness, and financial transparency. Auditors evaluate internal controls, look at financial statements, and give stakeholders information. They are essential to a number of specialisations, including compliance, forensic, external, and internal auditing. Hence, graduates of auditing can take up careers as Internal auditor, budget analyst and personal financial advisor.
Top Recruiters:
- Government Institutions
- Finance Companies
- Insurance Companies
- Accounting Companies
- Financial Management Consultancies
Average Salary
Candidates in the field of accounting and Auditing are offered lucrative benefits and high salary packages. At the start of their career, a decent candidate with appropriate skills earns around Rs. 10 Lakh per annum. After gaining some experience, candidates can easily earn much more. Some of the high paying job profiles are:
Job Profiles | Average Expected Salary |
Internal Auditor | Rs. 2 LPA – Rs. 15 LPA |
Government Auditor | Rs. 2 LPA – Rs. 15 LPA |
Personal Financial Advisor | Rs. 1.5 LPA – Rs. 12.5 LPA |
Budget Analysts | Rs. 1.6 LPA – Rs. 12.5 LPA |
Source: Ambition Box
The salary figures mentioned anywhere in these articles are just for reference purposes. Please treat them as such. Actual salaries may vary depending on respective candidates, employer, job location, and numerous other factors.
Required Skillset for Auditing
Auditing is a field that requires a lot of dedication and hard work. It is one of the highest-paid careers in Accounting. Students who wish to enter the field must possess a combination of various skills and qualities that will help them to excel in their career. Mentioned below are some of the important attributes and skills required for the Auditing field.
- Business & Accounting Acumen
- Analytical Skills
- Mathematical Aptitude
- Technical skills
- Evaluating Mind
- Time management
- Strategic mindset
- Decision-making skills
Course Curriculum for Auditing
Foundational concepts of accounting and auditing standards are usually included in auditing course curricula, with an emphasis on financial statement analysis, risk assessment, and internal control evaluation. Students gain knowledge of audit techniques, covering the stages of planning, carrying out, and reporting. Techniques for forensic audits, IT auditing, and regulatory compliance are examples of specialised subjects.
Case studies, audits of fictitious businesses, and exposure to audit software tools are common components of practical training. The programme equips students with the knowledge and abilities necessary for positions in auditing firms, businesses, and regulatory agencies. It also prepares them for professional certifications such as Certified Public Accountant (CPA) or Certified Internal Auditor (CIA).
Frequently Asked Questions (FAQs)
Question: What is the scope of Auditing?
Answer :
The scope of auditing involves ensuring financial transparency, regulatory compliance, and operational efficiency across various industries. Auditors play a crucial role in maintaining accountability, mitigating risks, and enhancing organisational governance through thorough examination and reporting of financial practices.
Question: What is the minimum age limit for the CA exam?
Answer :
The minimum age limit for appearing in the foundation CA exam is 17 years.
Question: What is the eligibility criteria for the CIA in India?
Answer :
Candidates must hold a bachelor’s/ master’s/ associate’s degree with 24/ 12 / 60 months of internal auditing experience respectively.
Question: What is the eligibility criteria for the Institute of Cost and Works Accountants (ICWAI) Foundation Course?
Answer :
A student who has completed his/ her higher senior secondary examination or equivalent from a recognised board in India and is not less than 17 years in age is eligible for registering in the ICWAI Foundation Course.
Question: What is the work of the Comptroller and Auditor General of India?
Answer :
The work of the Comptroller and Auditor General of India is to audit all the financial statements of the government and to inspect the financial reports of all government bodies.
Questions related to Auditing
Showing 7 out of 7 Questions
9 Views
whether a student who passed CA IPCC Group 1 (Accounting, Auditing and Law) in 2012 is eligible to get an exemption for those papes in September 2024?
19th Aug, 2024
hello
The eligibility for exemptions in the CA IPCC (now known as CA Intermediate) exams is governed by the Institute of Chartered Accountants of India (ICAI). According to the ICAI, exemptions are valid for a certain period.
If a student passed CA IPCC Group 1 (Accounting, Auditing, and Law) in 2012, they would have been eligible for exemptions in those subjects for a period of 3-4 years from the date of passing. However, since it has been more than 12 years since passing, the exemptions would have lapsed.
To confirm, I recommend checking the ICAI website or contacting the ICAI directly for the most up-to-date information on exemption validity and any possible extension or reinstatement provisions. They will be able to provide the most accurate and personalized guidance for your specific situation.
https://finance.careers360.com/articles/ca-intermediate-exam-pattern
Answer later 15 Views
Question : Which of the following item is not included in Environmental Auditing?
Option 1: Pollution monitoring schemes
Option 2: Scrutiny by the government agencies
Option 3: Safety provisions for industrial workers
Option 4: Storage of toxic chemicals
25th Jan, 2024
Correct Answer: Scrutiny by the government agencies
Solution : The correct option is Scrutiny by the government agencies.
Environmental auditing does not include government agency scrutiny. Environmental auditing is a voluntary procedure in which a company evaluates its own environmental performance. It is not a statutory necessity, and government entities are not usually involved in the process.The audit may discover compliance concerns, but it is not mainly concerned with assuring environmental compliance. The audit may also reveal chances for the organisation to decrease its environmental effect, strengthen its environmental management systems, or avoid environmental incidents.
3 Views
Question : In India, who among the following is responsible for auditing all receipts and expenditures of the union and state governments?
Option 1: Attorney General for India
Option 2: Advocate General
Option 3: Union Public Service Commission
Option 4: Comptroller and Auditor General
17th Jan, 2024
Correct Answer: Comptroller and Auditor General
Solution : The correct answer is Comptroller and Auditor General.
In India, the Comptroller and Auditor General (CAG) is responsible for auditing all receipts and expenditures of the union and state governments. The CAG is an independent constitutional authority and plays a crucial role in ensuring financial accountability and transparency in the government's financial operations.
232 Views
which has more scope and salary between bcom accountancy and finance or bcom accounting, auditing and taxation
29th Apr, 2021
Hello aspirant,
There is nothing much of a difference seen by people in job market among the both.
Some basic points of difference in both the courses are:
Bcom is related to accounting and finance + other areas of business and trade.
B.A.F. is related to accounting and finance.
BCom: since the course is general in nature. However, have a wider choice in higher studies that would get a good start to your career.
B.A.F.:since the course is general in nature, you need to do a specialisation in accounting/finance higher studies to get a good start to your career.
Bcom: The choices are wider and students gets basic idea of other areas of commerce and trade, viz., HR, export-import, economics etc., However, since there is no specialisation to choose, it lacks focus in any one area of study, though accounting is a major subject in the bcom(honours) gives students a choice of specialisation in its last year
B.A.F. :Students are given all the basic training in accounting and finance. However, it neglects other areas of commerce and trade viz., HR, export-import etc.,
Bcom: It is for studdents who want to get a graduation degree and who are basically good in accounting, but are also open / would like to have a wider choice of subjects for higher studies later viz., Economics, Industrial Psychology, HR, Export-Import etc.,
B.A.F.: BAF is for students who are determined to make a career in accounting & finance field.
Hope this helps you
All the best for your future
613 Views
which degree is best for ca bcom accountancy and finance or bcom auditing taxation and accounting is best
7th Nov, 2021
hello Adhil,
ICAI conducts the CA exams list in India consists of 3 names – CA Foundation, IPCC and CA Final. Candidates need to clear the entire CA exam list in order to become a professional in this field.
where as, BCom is a 3-year Undergraduate program that focuses on subjects related to commerce, Economics, Business Law, Accountancy, Taxation and finance.
If you are a disciplined and focused kind of student, I suggest you to pursue CA and bcom simultaneously. CA foundation and 1st semester bcom are almost the same but the only thing is CA is a bit difficult compared to bcom as far as CA Foundation is concerned. BAF will absolutely right choice if we want to pursue CA with b.com
BCom with CA is divided into six semesters. Various topics such as financial accounting, economics, company law, corporate tax, auditing, business management, etc., and many more are present in BCom Syllabus to increase the skill threshold of the student.
for more information please visit the following link
Hope this will help you a lot,
Thank you
