Auditing Question Papers 2013 (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
1.
Choose the correct world from the alternatives
given below:
(a)
Auditing refers to
(i)
Preparation and checking of accounts.
(ii)
Examination of account of business unit
(iii)
Examination of accounts by professional
accountants
(iv) Checking
the voucher
(b)
Auditing is luxury for a
(i)
Joint stock company
(ii)
Partnership firm small shopkeeper
(iii)
small shopkeeper
(iv) government
company
(c)
The scope of work of internal audit is decided
by the
(i)
Shareholders
(ii)
Management
(iii)
Government
(iv) Law
(d)
Errors of omission are
(i)
Technical errors
(ii)
Errors of principle
(iii)
Compensating errors
(iv) None
of the above
(e)
Stock should be valued at
(i)
Cost
(ii)
Market price
(iii)
Cost of market price whichever is lower
(iv) Cost
less depreciation
(f)
Government may order for cost audit under the
(i)
Section 227
(ii)
Section 223A
(iii)
Section 223B
(iv) Section
224
(g)
Institute of chartered Accountants of India was
established in the year
(i)
April 1, 1956
(ii)
April 1, 1949
(iii)
July 1, 1956
(iv) July
1, 1949
(h)
Internal check is a part of
(i)
Internal audit
(ii)
Internal accounting
(iii)
External audit
(iv) Internal
control
2. (a) What do you mean by continuous audit and to
what type of business is it especially applicable? State its merit and
demerits.
Also Read: 👉Auditing Solved Paper May' 2013
Or
(b)
Discuss the essential qualities which an auditor should possess. What steps
would you take before commencing the actual work of audit upon being appointed
as an auditor?
3. (a) Explain the objectives of verification of
assets. State the differences between routine checking and vouching.
Or
(b) What is vouching? Discuss the main points which must be taken care
of while vouching the transactions.
4. (a) State clearly the rights
and duties of an auditor of a company under the Indian Companies Act.
Or
(b) Explain the procedure of
issue of shares at premium and at discount under the provisions of the
Companies Act, 1956. Point out the auditor’s duties in this connection.
5. (a) Discuss the special points arising in the
audit of a cooperative society.
Or
(b) Distinguish between audit and investigation. Discuss in detail the
procedure for an investigation.
6. (a) What is statutory Report? Discuss the
auditor’s duty in this connection.
Or
(b) What do you mean by Management Audit? Discuss briefly the advantages
and disadvantages of Management Audit.
7. Write short notes on:
(a) Social audit
(b) sources of dividend
(c) secret reserve
(d) fraud and error
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