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 (2003----), Member Governing Council, International Federation of Accountants (IFAC), New York (1997-2000), President, South Asian Federation of Accountants (SAFA) (1997), President, Institute of Cost and Management Accountants of Pakistan (1997-2000), President, Association of Management Development Institutions of South Asia (AMDISA) (1993-96), Pro Vice-Chancellor University of the Punjab, Lahore (1994-1996), Founder Director, Institute of Business Administration (IBA), University of the Punjab, Lahore (1973-1996).

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

1: The Rise of Auditing Origin Definition Differentiation between Accounting & Auditing Qualities of an Auditor

2: Objectives of Audit Detection and Prevention of errors and mistakes Detection and prevention of Fraud Moral check Expression of an independent opinion

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

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

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

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

6: Liabilities of an Auditor For negligence For Misfeasance Criminal Libel Honorary Appointment Dual Appointment Third Party

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