Auditing: Principles and Techniques

Preface

The development of modern accountancy and the growth of auditing profession in India and, indeed, in the world as a whole must be seen in the context of the enormous expansion of industry, trade and commerce which has taken place in the last decade. The auditing profession is now going beyond the duties prescribed by the Companies Act. It is initiating its own accounting standards, and auditing regulations and guidelines. At present, it has sought to standardise the accounting procedure by issuing mandatory accounting standards and also issuing standardised auditing guidelines for conducting audit work. In addition to that, auditing in its modern form has adopted a multidimensional approach. At present, the scope of auditing is not restricted ...