Auditing
Important Questions
Dibrugarh
University B. Com 6th Sem Hons CBCS Pattern
Auditing
Unit – 1: Introduction to Auditing (Part A)
Part A
Q. Explain the meaning
of Auditing. What its objectives? Explain them fully. 2016, 2017
Q. What do you mean by continuous audit? How does it differ from periodical audit (2018SN)?What are its advantages and disadvantages? 2013, 2014SN, 2017, 2018SN
Q. “Auditing begins where accountancy end.” Explain this statement.
Q. Distinguish betweenAuditing and Accountancy.
Q. Explain the advantages and
limitations of Audit. 2014,
2016SN, 2017SN, 2018
Q. Mention various
classes of audit.
Q. Discuss the essential
qualities which an auditor should possess. What steps would you take before
commencing the actual work of audit of a company upon being appointed as an
auditor? 2013, 2015, 2017,
Q. State the basic principles
governing an audit. 2019
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Part B
Q. What is an audit note book (2015SN, 2016SN,
2018SN)? What purpose does it serve? What are the contents of audit note book?
Q. What is audit programme? What are the ways
to plan an internal audit? Discuss the advantages and disadvantages of audit
programme. 2014SN, 2015, 2016,
2016SN, 2018
Q. Define internal control (2017SN), internal
audit (2016SN) and internal check (2015SN) with their objectives and also
distinguish between them. 2014
Q. What is Audit evidence? Explain the
procedure to obtain audit evidence. 2017SN
Q. Write short notes on:
a)
Fraud
and Errors 2013,
2014, 2015
b)
Periodical
Audit 2015
c)
Audit
working papers
d)
Essential
elements of an effective internal control system 2019
e)
Audit
Evidence 2017
f)
Auditing
in depth 2015, 2018
g)
Audit
sampling
h)
Internal
check vs Internal audit vs Internal control
Unit 2
Part A: ROUTINE CHECKING AND VOUCHING
Q. What is routine checking? What are its objectives. Mention its advantages and disadvantages.
Q. Distinguish between vouching and routine checking (2013). 2014SN, 2016, 2019SN
Q. “Vouching is the essence of auditing.”
Considering this statement, explain the meaning, advantages and limitations of
vouching. 2016, 2019
Q. Mention some important objectives of
vouching and routine checking. Discuss the main points which must be taken care
of while vouching the transactions (2013). 2019
Q. How would you vouch the following?
a)
Cash
sales and cash purchases 2018
b)
Credit
Sales 2017
c)
Credit
purchase 2015
d)
Expenses
paid and income received
e)
Day
book
f)
Bank
account
Part B: VERIFICATION AND VALUATION
Q. What do you mean by verification and
valuation of assets? Distinguish between vouching, verification and valuation. 2018SN, 2019
Q.What are the objectives of verification
(2013) and valuation of assets? Discuss the auditor’s duty in regard to
valuation and verification of assets. 2014
Q. How would you verify the following?
a)
Stock
in trade 2015,
2018
b)
Intangible
assets 2016
c)
Live
stocks 2016
d)
Leasehold
property 2016
e)
Contingent
liabilities 2017
Unit 3
Part A: COMPANY’S AUDITOR
Q. Who can be appointed and who cannot be appointed as an auditor of a company? (Qualification and Disqualification of an auditor) 2019
Q. what are the rights,
liabilities and duties of an auditor under the Companies Act, 2013? Explain
them briefly. 2013, 2015, 2016, 2019
Q. What are the special considerations involved in the audit of a company?
Q. Discuss the duties of an auditor as regards audit of the share capital of a company. 2017, 2018
Part B: DIVIDENDS AND RESERVES
Q. What is divisible profit
and dividend? What are its various sources? As an auditor, state the legal
provisions relating to the payment of final dividend. 2013, 2014SN, 2018SN, 2019
Q. What are various types of
reserves? Explain them including Secret Reserve. 2013
Q. Explain the procedure of
transfer and transmission of shares. What are the auditor’s duties in this
regard? 2019
Q. Write short notes In
regard to auditor’s duty on:
a)
Managerial remuneration 2018,
2019
b)
Issue of shares
c)
Issue of Debentures
d)
Redemption of preference shares 2014
e)
Forfeiture and re-issue of forfeited shares 2014,
2017
f)
Bonus share 2015
g)
Share transfer 2015,
2016
h)
Preliminary expenses 2017
Unit 4
Auditor’s
Communication/Auditor’s report
Q. What are various types of
audit report? Explain them briefly. 2015,
2017, 2018
Q. Explain the importance of
Audit Report. 2015,
2019
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