Auditing Question Papers 2014 (May)
COMMERCE (General/Speciality)
Course: 403 (Auditing)
Time: 3 hours
The figures in the margin indicate full marks for the questions
(NEW COURSE)
Full Marks: 80
Pass Marks: 32
Auditing Question Papers 2014 (May)
COMMERCE (General/Speciality)Course: 403 (Auditing)
Time: 3 hours
The figures in the margin indicate full marks for the questions
(NEW COURSE)
Full Marks: 80
Pass Marks: 32
(i) Main objective of auditing is
(1) detection
of error
(2) to
find out whether profit and loss account and balance sheet show true and fair state of affairs.
(3) detection
of fraud
(4) detection
and prevention of fraud and errors
(ii) A continuous audit is needed for
(1) Any
trading concern
(2) Smaller
concern
(3) Banking
companies
(4) Any
manufacturing concern
(iii) Internal auditor is appointed by
(1) Management
(2) Shareholders
(3) Government
(4) None
of above
(iv) The objective of internal audit is
(1) To
prevent error and fraud
(2) To
detect error and fraud
(3) To
improve financial control
(4) All
of the above
(v) stock should be valued at
(1) cost
(2) Market
price
(3) Cost
or market price whichever is lower
(4) Cost
less depreciation
(b) fill in
the blanks: 1*3
(i) The company can buyback its shares only if it is authorized by
its____.
(ii) Section______ of Companies Act,1956 has laid down reporting
requirement for the auditor.
(iii) The Constitution of India has envisaged the office of the______to
be the Supreme Audit Institution in the country.
2. Write
short notes on the following(any four)
4*4=16
(a) Fraud and error
(b) Tax audit
(c) Continuous audit
(d) Routine checking
(e) Audit programme
(f) Source of dividend
3.(a) Examining
critically the role of auditing in the efficient and economical conduct of a
business concern. Explain the advantages of audit to different user group. 5+6
Also Read: 👉Auditing Solved Paper May' 2014
Or
(b) state the
purpose and characteristics of sound system of internal check differ from
internal control audit? 6+5
4.(a) what is
verification of assets and liabilities? State the duties of an auditor
regarding valuation and verification of stock in trade. 4+7
OR
(b) explain
the significance of vouchers. Discuss the factors which affect the reliability
of vouchers and explain what precautions should be taken by the auditor in this
regard. 3+4+4
5.Discuss the
provision of companies Act, 1956 regarding appointment and remuneration of the
auditors. 8+4
OR
(b) How will
you examine the following items while auditing the accounts of a limited
company? 6+6
(i) Redemption of preference shares
(ii) Forfeiture of shares
6.(a) Discuss
the special point to be considered by the auditor in the audit of an
educational institution. 11
OR
(b) what is investigation? Discuss the characteristics of investigation. 4+7
7. (a) what
is a cost audit? Discuss the distinction between cost audit and financial
audit. 4+7
Or
(b) What do
you mean by statutory report? Draw up a qualified audit report as per companies order,2003. 4+7
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