Auditing Question Papers 2016 (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: 24
Or
(b) What are ways
to plan an internal audit? Discuss the advantages and disadvantages of the use
of an audit programme. 4+5+5=14
2. (a) (i) What
is routine checking? Mention the advantages of this checking. 3+4=7
(ii)
“Vouching is the essence of an audit.” Explain this statement. 7
Or
(b) How
would you verify the following assets? 3
½ x4=14
1.
Patent Right.
2.
Intangible Assets.
3.
Livestock.
4.
Leasehold Property.
3. (a)
State clearly the right and duties of an auditor of a company under the Indian
Companies Act. 14
Or
(b)
Explain the procedure of issue of shares at premium and at discount under the
provisions of the Companies Act. Point out auditor’s duties in this regard. 7+7=14
Also Read: 👉Auditing Solved Paper May' 2016
4. (a)
What is statutory report? What are the points to be considered by the auditor
before expressing opinion in respect of a statutory report? 4+10=14
Or
(b) What
do you mean by Propriety Audit? What are the instances where an auditor is
required to conduct Propriety Audit under the Companies Act? 4+10=14
5. Write
short notes on (any four): 4x4=16
a)
Contents of audit notebook.
b)
Transfer of shares.
c)
Advantages of Cost Audit.
d)
Audit Programme.
e)
Importance of Audit Report.
6. Choose the
correct answer from the alternatives given below: 1x8=8
a)
Auditing refers to
i.
Preparation and checking of accounts.
ii.
Examination of accounts of business unit.
iii.
Examination of accounts by professional
auditors.
iv.
Checking the voucher.
b)
The Scope of work of internal audit is
determined by the
i.
Shareholders.
ii.
Management.
iii.
Government.
iv.
Law.
c)
Errors of omission are
i.
Technical errors.
ii.
Errors of principle.
iii.
Compensating errors.
iv.
None of the above.
d)
Stock should be valued at
i.
Cost.
ii.
Market price.
iii.
Cost or market prices whichever is lower.
iv.
Cost less depreciation.
e)
Government may order for cost audit under
i.
Section 227.
ii.
Section 233A.
iii.
Section 233B.
iv.
Section 224.
f)
Institute of Chartered Accountants of India was
established in
i.
April 1, 1956.
ii.
April 1, 1949.
iii.
July 1, 1956.
iv.
July 1, 1949.
g)
Share can be issued at discount under Section
i.
76.
ii.
75.
iii.
79.
iv.
89.
h)
Internal check is a part of
i.
Internal audit.
ii.
Internal Accounting.
iii.
External Audit.
iv.
Internal control.
Also Read: Auditing Question Papers Dibrugarh University BCOM 4th SEM
(OLD COURSE)
Full Marks: 80
Pass Marks: 32
1. (a) Define internal and
external evidence. Explain the procedures to obtain audit evidence. 4+7=11
Or
(b) What is an
audit notebook? What purpose does it serve? What are the contents of an audit
Notebook? 3+3+5=11
2. (a) What are
the objects of verification of assets? State the difference between routine
checking and vouching. 4+7=11
Or
(b) What do you
mean by verification of assets? How does it differ from valuation? Refer to any
one legal decision in respects of verification. 3+5+3=11
3. (a) What do
you understand by the term ‘dividend’? Discuss in the light of legal decisions
whether profit on revaluation of assets can be distributed as dividend. 4+8=12
Or
(b) What is the
procedure of transfer of shares? Point out the auditor’s duties in this
connection. Distinguish between transfer and transmission of shares. 4+4+4=12
4 (a) Discuss the
special points arising in the audit of a cooperative society 11
Or
(b) Distinguish
between audit and investigation. Explain in detail the procedure for an
investigation. 4+7=11
5. Answer [either
(a) or (b)] and (c):
(a) What is
statutory report? Discuss the auditor’s duty in this connection. 4+7=11
Or
(b) What do you
mean by Management Audit? Discuss briefly the advantages and disadvantages of
Management audit. 4+7=11
(c) Write short notes on: 4x4=16
i.
Continuous audit.
ii.
Sources of dividend.
iii.
Secret reserve.
iv.
Disadvantages of financial audit.
6. Choose the
correct answer from the alternatives given below: 1x8=8
a)
Auditing refers to
i.
Preparation and checking of accounts.
ii.
Examination of accounts of business unit.
iii.
Examination of accounts by professional
auditors.
iv.
Checking the voucher.
b)
The Scope of work of internal audit is
determined by the
i.
Shareholders.
ii.
Management.
iii.
Government.
iv.
Law.
c)
Errors of omission are
i.
Technical errors.
ii.
Errors of principle.
iii.
Compensating errors.
iv.
None of the above.
d)
Stock should be valued at
i.
Cost.
ii.
Market price.
iii.
Cost or market prices whichever is lower.
iv.
Cost less depreciation.
e)
Government may order for cost audit under
i.
Section 227.
ii.
Section 233A.
iii.
Section 233B.
iv.
Section 224.
f)
Institute of Chartered Accountants of India was
established in
i.
April 1, 1956.
ii.
April 1, 1949.
iii.
July 1, 1956.
iv.
July 1, 1949.
g)
Share can be issued at discount under Section
i.
76.
ii.
75.
iii.
79.
iv.
89.
h)
Internal check is a part of
i.
Internal audit.
ii.
Internal Accounting.
iii.
External Audit.
iv.
Internal control.