Wednesday, January 09, 2013

Dibrugarh University - Auditing 2011 (Old course)

1.       What are the objects of audit? Explain them fully.  4+10=14
Or
What is an audit notebook? What purpose does it serve? What are the contents of an audit notebook?

2.       (a) What is routine checking? Mention the advantages of this checking.  4+3=7
(b) “Vouching is the essence of an audit”. Discuss this statement.                     7
Or
What do you mean by verification of assets? How does it differ from valuation? Refer to one legal decision in respect of verification.   4+6+4=14

3.       State clearly the rights and duties of an auditor of a company under the Indian companies act. 14
Or
What is the procedure of transfer of share? Point out the auditor’s duties in this connection. Distinguish between transfer and transmission of shares.                         5+5+4=14

4.       Discuss the special points arising in the audit of a cooperative society.                            14
Or
Distinguish between audit and investigation. Explain in detail the procedure for an investigation.                              7+7=14

5.       What do you mean by qualified report? Under what circumstances as an auditor of a public company would you qualify your report? Draft a qualified report giving at least four reasons.  2+4+8=14
Or
Distinguish between financial audit and cost audit. What are the disadvantages of financial audit and advantages of cost audit?   6+4+4=14

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