Friday, February 15, 2019

Gauhati University Question Papers:AUDITING AND ASSURANCE (May-June’ 2013)

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
Answer all questions:
1. (A) Fill in the blanks with appropriate words:                                  1x5=5

a)      _____ audit is compulsory for all companies incorporated under Companies Act, 1956.
b)      Standard on Auditing (SA) 200A issued by ICAI speaks about _____ requirements of the auditors.
c)       Statistical sampling is also known as _____.
d)      Vouching is done with reference to a _____.
e)      A _____ audit report is submitted by the auditor when he is fully satisfied on the examination of books of accounts.
(B) State whether the following statements are ‘true’ or ‘false’:                                1x5=5
a)      Final audit starts after the end of financial year.
b)      Internal check forms valuable part of internal control.
c)       Test checking can give accurate result.
d)      Fixed assets are to be valued at net realisable value.
e)      The auditor’s report is addressed to the shareholders of the company.
2. Write the meaning of the following is about 30 words each:                    2x5=10
a)      Interim audit.
b)      Audit Sampling.
c)       Sampling risk.
d)      Vouching.
e)      Audit attestation.
3. Write short note on any four of the following within 150 words each.                                                 4x5=20
a)      Continuous audit.
b)      Audit documentation.
c)       Statistical sampling.
d)      Test checking.
e)      Five essentials of good audit report.
f)       Five points of distinction between vouching and verification.
4. What are the different types of errors and frauds? Discuss the auditors’ duty regarding detection and prevention of errors and frauds.                                            4+6=10
Write note on:                                              5+5=10
a)      Cost audit.
b)      Tax audit.
5. How would you vouch the following?                                5+5=10
a)      Collection of book debts.
b)      Bad debts recovered.
What are the objectives of verification of assets? What are the factors to be considered for valuation of assets? 5+5=10
6. What is meant by internal check? Discuss the advantages of internal check.                    2+8=10
Write note on:                              5+5=10
a)      Audit working paper.
b)      Audit notebook.
7. Discuss the facts to be mentioned in the Audit Report under Companies Act.                                 10


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