Gauhati University Question Papers
AUDITING AND ASSURANCE (May-June’ 2016)
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.
Answer as directed: 1x10=10
a) Statutory
audit of a company is conducted by the Government or its agency. (State whether
the statement is True or False)
b) State
one example of error of principle.
c) Internal
audit report is submitted to management. (State whether the statement is True
or False)
d) Write
the name of different types of internal control.
e) What
is meant by routine checking?
f) Test
check save the time of _____. (Fill in the blank)
g) Write
two objectives of vouching.
h) Trade
investments are valued at _____ price. (Fill in the blank)
i)
An audit report is addressed to the Board of
Directors by the auditor. (State whether the statement is True or False)
j)
Audit report is the final product of the _____
process. (Fill in the blank)
2.
Write the following in about 30 words each: 2x5=5
a) What
is compensating error?
b) Write
two objectives of internal control as per AAS-6
c) Write
two differences between statistical sampling and non-statistical sampling.
d) What
is Gross book value is relation to valuation of asset?
e) Write
any two circumstances where the auditor has to qualify his report.
3.
Write any four of the following within 150 words each: 5x4=20
a) A
note on relationship of auditing with statistics and mathematics.
b) Five
features of Internal Control Questionnaire (ICQ).
c) A
note on audit working paper.
d) Purpose
of analytical review procedure in planning the audit.
e) A
note on principles of vouching.
f) Five
essentials of a good audit report.
4.
Explain in brief the objectives and functions of Auditing and Assurance
Standards Board. 10
Or
Discuss the nature of an audit.
5.
Discuss the internal check system as regards cash payments of a business. 10
Or
Write the meaning of internal audit. What are its
objectives? 4+6=10
6.
How would you vouch the following? 5+5=10
a) Payment
of wages and salaries.
b) Payment
to Creditors.
Or
Write the meaning of verification. Why is it necessary? 3+7=10
7.
Describe in brief different types of audit report. 10
Or
Describe the items to be disclosed in the annual report
under companies Act. 10
***
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