Gauhati University Question Papers
AUDITING AND ASSURANCE (May-June’ 2015)
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) _____
audit is done by the staff of the employer. (Fill in the blank)
b) Write
the meaning of Fraud.
c) Internal
audit report is submitted to the _____. (Fill in the blank)
d) Write
two objectives of internal control.
e) Write
the meaning of statistical sampling.
f) Test
check does not save the time of an audit. (State whether the statement is True
or False)
g) Valuation
of assets and liabilities is a part of verification. (State whether the
statement is True or False)
h) Trade
investments are valued at cost price. (State whether the statement is True or
False)
i)
Write two types of negative audit report.
j)
Audit report is prepared in accordance with
GAAP. (State whether the statement is True or False)
2.
Write the following in about 30 words each: 2x5=10
a) Interim
audit.
b) Sampling
risk.
c) Two
objectives of internal audit.
d) Two
points of differences between vouching and verification.
e) Audit
attestation.
3.
Write any four of the following within 150 words each: 5x4=20
a) What
is continuous audit? Mention the types of business where continuous audit is
applicable.
b) Write
short note on internal control questionnaire.
c) Requirements
for audit sampling.
d) Four
recommendations on surprise check issued by ICAI.
e) Problems
arising in verification of assets.
f) Note
an Audit Certificate.
4.
Describe the classification of audit with their respective features. 10
Or
Discuss the auditor’s duty regarding detection and
prevention of error4s and frauds. 10
5.
What is meant by Internal Check? Discuss the advantages of internal check. 2+8=10
Or
Explain in brief the different types of audit documents. 10
6.
Write the meaning of valuation. Discuss the duties of an auditor with regard to
verification and valuation of fixed assets. 2+8=10
Or
What is the meaning of Vouching of Cash Book? Write the
procedure of Vouching of Cash Sales. 2+8=10
7.
What is meant by Audit Report? Write the essentials of a good audit report? 2+8=10
Or
Discuss the importance of audit report. 10
***
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