Auditing Question Papers 2019 (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
a)
The object of internal audit is
1)
To improve financial control.
2)
To detect errors and frauds.
3)
To prevent errors and frauds.
4)
All of the above.
b)
Not providing adequate depreciation is
1)
Errors of omission.
2)
Errors of commission.
3)
Errors of principles.
4)
Compensating errors.
c)
A continuous audit is specially needed for
1)
Manufacturing concern.
2)
Any trading concern.
3)
Smaller concern.
4)
Banking company.
d)
In case of a company, external auditor is
appointed by the
1)
Company Law Board.
2)
Management.
3)
Shareholders.
4)
Shareholders or government.
e)
Any casual vacancy in the office of an auditor
of a company shall be filled up as per the provisions under which Section of
the Companies Act, 2013?
1)
Section 139.
2)
Section 139(6).
3)
Section 139(8).
4)
Section 140(2).
f)
Which one of the following examples are not contingent
liabilities?
1)
Liabilities on bills receivable discounted and
not matured.
2)
Liabilities under a guarantee.
3)
Liabilities arising out of litigation in respect
of trademark.
4)
Liabilities for outstanding salary.
g)
No dividend shall be declared or paid by a
company for any financial year expect out of three specific sources as per
provision of the Companies Act, 2013 under
1)
Section 73.
2)
Section 123(1).
3)
Section 123(6).
4)
Section 143(6).
h)
As per Section 139(6) of the Companies Act, the
first auditor of a company other than a Government Company shall be appointed
by the Board of Directors within how many days from the date of registration?
1)
15 days.
2)
30 days.
3)
45 days.
4)
60 days.
2. (a) Write short notes on any two of the following: 4x2=8
1)
Importance of Audit Report.
2)
Routine checking.
3)
Managerial Remuneration.
4)
Scope of Internal Control.
(b) Distinguish between any two of the
following: 4x2=8
1)
Internal Audit and External Audit.
2)
Verification and Valuation.
3)
Management Audit and Financial Audit.
4)
Clean Audit Report and Qualified Audit Report.
3. (a) Explain the basic principles governing an audit.
Discuss the essential qualities of an auditor. 7+7=14
Also Read: 👉Auditing Solved Paper May' 2019
Or
(b) What is internal control? Explain the elements of a good
system of internal control. How far does internal check give security to the
auditor? 2+8+4=14
4. (a) What is importance of vouching? Explain the general and
specific considerations which the auditor should keep in mind while checking
vouchers. 4+10=14
Or
(b) State the importance of verification and valuation of
assets from the point of view of an auditor of business concern. What are the
duties of an auditor regarding the valuation of investment in the Balance
Sheet? 7+7=14
5. (a) Discuss the provisions of the Companies Act, 2013
regarding qualifications, appointment, rights and duties of an auditor of a
limited company. 3+3+4+4=14
Or
(b) Explain the terms ‘divisible profit’ and ‘dividend’. State
how you will examine share transfer and dividend while auditing the accounts of
a limited company. 3+3+4+4=14
6. (a) Discuss in brief about different types of audit
reports. Under what circumstances an auditor considers it necessary to qualify
audit report? 8+6=14
Or
(b) Explain the advantages of cost audit. Write about the
qualifications of a cost auditor. Discuss about the provisions of cost audit in
the Companies Act, 2013. 5+3+6=14
Also Read: Auditing Question Papers Dibrugarh University BCOM 4th SEM
(OLD
COURSE)
Full
Marks: 80
Pass
Marks: 32
1. (a) Fill in the blanks: 1x4=4
1)
The Constitution of India has envisaged the
office of the _______ to be the Supreme Audit Institution of the country.
2)
A continuous audit is specially needed for
_______ companies.
3)
An internal auditor is appointed by _______.
4)
A company can issue redeemable preference shares
if authorized by the _______.
(b) Write whether the following are True or
False: 1x4=4
1)
Auditing is compulsory for all partnership
firms.
2)
Interim audit refers to examination of accounts
continuously.
3)
Preliminary expenses are of capital nature.
4)
Cost audit has got a wider scope as compared to
financial audit.
2. (a) What are the objects of an audit? Explain the
advantages of audit to the different users. 4+7=11
Or
(b) What are the advantages of an audit programme? State the
contents of an audit notebook. 5+6=11
3. (a) Explain the meaning and objects of vouching. What are
the duties of an auditor in connection with vouching of payments (credit) side
of the cashbook? 6+6=12
Or
(b) Discuss the duties of an auditor with regard to
verification and valuation of assets. How would you verify the balance at bank? 6+6=12
4. (a) Discuss the provisions of the Companies Act regarding
appointment, qualification and remuneration of auditor. 4+4+3=11
Or
(b) How will you examine the following items while auditing
the accounts of a limited company? 4+4+3=11
1) Shares
issued at a discount.
2) Shares
issued at a premium.
3) Forfeited
shares.
5. (a) Discuss the special points to be considered by the
auditor in the audit of a college. 11
Or
(b) Explain the general procedure followed in an
investigation. State the differences between an investigation and audit. 5+6=11
6. (a) State the importance of audit report. What are the
differences between clean audit report and qualified audit report? 5+6=11
Or
(b) What is cost audit? What are the qualifications of a cost
auditor? Distinguish between cost audit and management audit. 2+5+4=11
7. Write short notes on the following: 4x4=16
a)
Continuous Audit.
b)
Routine Checking.
c)
Frauds and Errors.
d)
Sources of Dividend.
***
Post a Comment
Kindly give your valuable feedback to improve this website.