👶Revised Syllabus of
Continuous Professional Development (CPD-I)Examinations
C-1 Financial Management |
Duration: 2 hours Maximum Marks: 100
1. ANALYSIS OF FINANCIAL STATEMENTS:
| Analysis and Interpretation of Financial Statements, Techniques and limitations of Financial Analysis, Ratio Analysis, Funds Flow Analysis and Cash Flow Analysis.
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2. CONCEPTS OF VALUE AND RETURN:
| Time preference for money, present value, future value, value of annuity, Rate of Return.
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3. INVESTMENT DECISIONS
| Concepts of Capital Budgeting, Capital Budgeting Appraisal Methods, Tactical Versus Strategic Investment Decisions, Capital Rationing, Factors Affecting Capital Investment Decisions. |
4. FINANCIAL PLANNING AND CAPITAL STRUCTURE: | Estimating Capital Requirements, Fixed Capital, Working Capital, Capitalization, Patterns of Capital Structure |
5. SOURCES OF FINANCE:
| Financial Markets, Security Financing, Debentures, Loan Financing, Bridge Finance, Loan Syndication, Book Building, New Financial Institutions, Venture Capital Institutions, Mutual Funds, Factoring Institutions, New Financial Instruments: Commercial Papers, Securitization of Debt, Global Depository Receipts (GDR), Derivatives: Options, Forward, Future and SWAP, Lease Financing: Concept of Leasing, Types of Lease Agreements, Difference Between Hire Purchase and Lease Financing. |
6. INTERNATIONAL FINANCIAL MANAGEMENT:
| Foreign Exchange Market, Exchange Risk Management, Mode of Payment in International Trade; Open Account, Bank Transfer, Letter of Credit, Consignment Sale. |
7. PUBLIC PROCUREMENT:
| Principles and Methods of Public Procurement, Transparency and Professionalism in Public procurement, Penalties & debarment etc. Indian Contract Act, 1872, The Arbitration & Conciliation Act, 1996. |
Suggested Reading:
| The suggested reading is as follows: 1. Taxman's Financial Management by Sh. Ravi M. Kishore 2. Indian Financial System by Sh. H R Machiraju, published by Vikas Publishing House Pvt. Ltd. New Delhi-8. 3. The Indian Contract Act 1872 as amended up to 31 Dec 2017 4. The Arbitration & Conciliation Act, 96 as amended up to 31 Dec 2017
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C-2 Accounting and Auditing Principles & Standards
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Duration: 2 hours Maximum Marks: 100
| Provisions of -
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1. | CAG’s Auditing Standards 2017
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2. | International Auditing Standards issued by the IFAC
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3. | Indian Accounting Standards (IND ASs) notified by the Ministry of Corporate Affairs
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4. | Indian Government Accounting Standards (IGASs) issued by Government Accounting Standards Advisory Board (GASAB)
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5. | International Public Sector Accounting Standards (IPSAS) issued by International Public Sector Accounting Standards Board (IPSASB)
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6. | Guidelines on Data Analytics issued by CAG
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| Suggested Reading: The suggested reading is as follows: Standards and Guidelines issued by the authorities concerned, as indicated above.
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Syllabus: CPD-II
CPD-II (Paper-I: C3)-Public Finance
Public Financial Management | Meaning and Importance of Public Finance, The Principle of Maximum Social Advantage, Role of Public Finance under different Economic Systems, Concept and Principles of Federal Finance, Analytical study of Union Budget, Government Accounting Standards issued by the GASAB. |
Public Expenditure | Principles of Public Expenditure, Revenue and Capital Expenditure, Development and Non-Development Expenditure, Effects of Public Expenditure |
Public revenue
| Sources of Revenue, Taxes, Canons of Taxation, Characteristic of Good Tax System, The Theory of Tax Structure Development, Changes in Tax Structure under the Impact of Economic Development, Incidence of taxation Money Burden and Real Burden. Factors Determining Incidence, Relative Merits and Demerits of Direct and Indirect Taxes. |
Problem of equity | Cost of Service Principle, Benefit or ‘Quid Pro Quo’ Theory. ‘Ability to Pay’ Theory, Proportional vs. Progressive Taxation. Taxable Capacity |
Public debt
| Classification of Public Debt. Purposes of Public Debt. Methods of Debt Redemption. Voluntary or Forced Loans. Effects of Public Debt on Production, Distribution, Consumption and Level of Income and Employment. |
Economic development and Planning
| Concepts of National Income & Product, Central Banking Principles, Functions of Central Banks, Monetary Policy Vs Fiscal Policy, Balance of Payments, Determinants of economic growth, Government Measures to Promote Economic Development, Regulatory Bodies established by laws, Provision of Economic and Social Overheads, Provision of Financial Facilities, Institutional Changes, Direct Participation, Indirect Measures, Forms of Planning : Planning by inducement and planning by Direction, Centralized planning vs. Decentralized Planning Pre-requisites of a Successful Planning. |
Suggested Study Material:
| · Public Finance in Theory & Practice by Dr. S. K. Singh · Modern Economic Theory by Dr. K.K. Dewett and Shri M.H. Navalur (published by Shyam Lal Charitable Trust, New Delhi (sole distributor S. Chand & Company Ltd, New Delhi) · Union Budget · Government Accounting Standards issued by the GASAB · Fiscal Responsibility and Budget Management Act, 2003 |
CPD-II (Paper-II: C4)-Auditing: Method & Techniques
1 | 1. Performance Auditing including Public Private Partnership (PPP) audit, formulating audit Plans including risk analysis. Use of quantitative techniques and analytical procedure in audit, Framing audit objectives and issue analysis, setting audit criteria, audit of Internal controls including forensic audit, Audit evidence and documentation, Quality assurance in auditing including audit quality management framework and Assurance through Peer Review, Reporting and following audit findings/observations.
| Suggested Reading:- · Auditing Standards & Performance Auditing Guidelines issued by the CAG of India · Public Audit Guidelines issued by the CAG of India. · Internal Control Evaluation Manual issued by the CAG of India. · Practice Guide Series and supplementary guidelines issued by the CAG of India. · International auditing standards and practice statements issued by IFAC · Auditing Standards and guidelines issued by INTOSAI · CAG’s standing order on role of audit in relation to cases of fraud & corruption · Audit Quality Management Framework and Quality Assurance through Peer Review
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2 | 2. Practice Guide Series and supplementary guidelines issued by the CAG of India. International Auditing Standards and International Auditing Practice Statements issued by the IFAC, Auditing standard issued by the INTOSAI.
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CPD-III Syllabus C5- General Studies & Current Economic Developments (Duration: 2 hours Maximum Marks: 100) |
This paper seeks to test the candidate's awareness of current national issues and topics of socio- economic relevance in current environment such as the following:
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THE INDIAN ECONOMY | The Indian economy and issues relating to planning, mobilization of resources, growth, development and employment.
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SOCIAL AND ECONOMIC EXCLUSION | Issues arising from the social and economic exclusion of large sections from the benefits of development issues relating to good governance and accountability to the citizens.
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ENVIRONMENTAL ISSUES | Environmental issues, ecological preservation, conservation of natural resources.
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INDIA'S ECONOMIC INTERACTION WITH THE WORLD SUCH AS FOREIGN TRADE, FOREIGN INVESTMENT: | Issues relating to India's Economic Interaction with the World such as foreign trade, foreign Investment: economic and diplomacy issues relating to oil, gas and energy flows: the role and functions of IMF, World Bank, W.T.O., WIPO, etc., which influence India's economic interaction with other countries and international institutions.
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CURRENT DEVELOPMENTS IN THE FIELD OF SCIENCE AND TECHNOLOGY | 5. Current developments in the field of science and technology, information technology, space, nanotechnology, biotechnology and related issues regarding intellectual property rights.
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SUSTAINABLE DEVELOPMENT | 6. Sustainable Development Goals and their implementation in India
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Suggested Reading:
| The suggested reading/sources are as follows: http://www.niti.gov.in/content/overview-sustainable-development-goals# National e-Governance Programme (NeGP) http://meity.gov.in/divisions/national-e-governance-plan Digital India http://digitalindia.gov.in/
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C6 Information Systems Audit (Duration: 2 hours Maximum Marks: 100)
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PART I: INTRODUCTION
| Ø Overview of Information Systems Auditing Ø Conducting an Information Systems and Audit
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PART II: THE MANAGEMENT CONTROL FRAMEWORK
| Ø Top management Controls Ø Systems Development Management Controls Ø Programming Management Controls Ø Data Resource Management Controls Ø Security Management Controls Ø Operations Management Controls Ø Quality Assurance Management Controls
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PART III: THE APPLICATION CONTROL FRAMEWORK
| Ø Boundary Controls Ø Input Controls Ø Communication Controls Ø Processing Controls Ø Database Controls Ø Output Controls
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PART IV: EVIDENCE COLLECTION
| Ø Audit Software Ø Code Review, Test Data and Code Comparison Ø Concurrent Auditing Techniques Ø Interviews, Questionnaires and Control Flowcharts Ø Performance Measurement Tools
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PART V: EVIDENCE EVALUATION
| Ø Evaluating Asset Safeguarding and Data Integrity Ø Evaluating System Effectiveness Ø Evaluating System Efficiency Ø
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PART VI: INFORMATION SYSTEMS AUDIT MANAGEMENT
| Ø Managing the Information Systems Audit Function
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Suggested Reading:
| The suggested reading/sources are as follows: Information Systems Control and Audit by Ron Weber (published by Pearson)
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