Auditing Question Paper 2012, Dibrugarh University B.Com 4th/6th Sem CBCS and Non-CBCS Question Paper

2012 (May)
COMMERCE (Old Course)
Course: (Auditing)
Time: 3 hours
The figures in the margin indicate full marks for the questions
Full Marks: 70
Pass Marks: 28
1. (a) Explain the procedures to obtain audit evidence.  14
(b) What are the ways to plan an internal audit? Discuss the advantages and disadvantages of the use of an audit programme.       4+10=14

2. (a) What are the objects of verification of assets? State the differences between routine checking and vouching.  7+7=14
(b) How would you verify the following specific assets? 3.5x4=14
(i) Patents rights
(ii) Intangible assets
(iii) Live-stock
(iv) Leasehold property
3. (a) Explain the procedure of issue of shares at a premium and at discount under the provisions of the companies Act, 1956. Point out the auditor’s duties in this connection.                   7+7=14
(b) What do you mean by the term ‘Dividend’? Discuss in the light of legal decisions whether profit or revaluation o assets can be distributed as dividend.  4+10=14

4. (a) What are the special points you should keep in mind while auditing the accounts of a Banking companies?                14
(b) One of your clients desiring to join an existing partnership concern as a partner entrusted you to the special points to be borne in mind by you in carrying out such investigation.                 14
5. (a) What is statutory report? What are the auditor’s duties in this connection?            4+10=14

(b) What do you mean by Management Audit? Discuss briefly the advantages and disadvantages of Management Audit.                4+5+5=14

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