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Friday, February 15, 2019

Gauhati University Question Papers:AUDITING AND ASSURANCE (May-June’ 2017)

Gauhati University Question Papers
Full Marks: 80
Time Allowed: 3 hours
Answer either in English or Assamese
The figures in the margin indicate full marks for the questions
1. (a) State whether the following statements are true or false:                                                 1x5=5

1)      Auditing does not depend on According.
2)      Auditing is based on sampling technique.
3)      Internal audit is management function.
4)      Test checking and sampling can never give accurate result.
5)      There is no need of verification when vouching is completed.
(b) Answer the following:                        1x5=5
1)      What is ‘surprise check’?
2)      What is Statutory Audit?
3)      Write the meaning of fraud.
4)      What is ‘audit attestation’?
5)      Write the meaning of “audit documents”.
2. Answer the following in about 30 words each:                               2x5=10
a)      Audit risk.
b)      Objectives of Audit Sampling.
c)       Two objectives of vouching.
d)      Two essentials of a good Audit Report.
e)      Two objectives of internal Audit.
3. Answer any four of the following within 150 words each:                         5+4=20
a)      Write a short note on Auditor’s duty regarding errors and frauds.
b)      Write short notes on Interim Audit.
c)       Write the procedure of vouching of payment to creditors.
d)      Auditor’s Certificates.
e)      Compensating error.
f)       Write a note on audit working paper.
g)      Requirements of audit sampling.
4. Discuss the basic principles of audit.                                   10
What is vouching? Write a note on principles of vouching.                        10
5. What is internal control? Also discuss the objectives of internal control.                            10
What is internal check system? Distinguish between internal check and internal audit.                                10
6. Discuss the duties of an auditor with regard to verification and valuation of fixed assets.                           10
What is Continuous audit? Discuss the types of business where Continuous Audit is applicable.                              10
7. What do you mean by a “Qualified Report”? Give specimen of a qualified report of a limited company.              10
Write the essentials and importance of an audit report.                                             10


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