OUR OWN PUBLICATION FROM 1ST JULY, 2018 FOR B.COM

1. B.COM FIRST SEMESTER COMPLETE NOTES (CHOICE BASED) WITH SOLVED FINANCIAL ACCOUNTING BOOK
2. B.COM 3RD SEM COMPLETE NOTES WITH SOLVED BOOKS OF:
*ADVANCED FINANCIAL ACCOUNTING
*BUSINESS STATISTICS SOLVED PAPERS OF LAST 7 YEARS
* FINANCIAL MANAGEMENT BOOK
3. B.COM 5TH SEMESTER COMPLETE NOTES WITH SOLVED BOOKS OF MANAGEMENT ACCOUNTING OF JAIN AND NARANG

Friday, April 25, 2014

Dibrugarh University (4th Semester) - Auditing Important Questions and Answers

Part A
Q. Discuss the essential qualities which an auditor should possess. What steps would you take before commencing the actual work of audit upon being appointed as an auditor?

Part B
Q. What is an audit note book? 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.
Q. Define internal control, internal audit and internal check and also distinguish between them.
Q. What is Audit evidence? Explain the procedure to obtain audit evidence.
Q. Write short notes on:
Ø  Audit working papers
Ø  Audit sampling

Unit 2
Part A
Q. What is routine checking? Mention its advantages and disadvantages. Also distinguish between vouching and routine checking.
Q. “Vouching is the essence of auditing.” Considering this statement, explain the meaning, advantages and limitations of vouching.
Q. Mention some important objectives of vouching and routine checking. Discuss the main points which must be taken care of while vouching the transactions.
Q. How would you vouch the following?
Ø  Cash sales and cash purchases
Ø  Expenses paid and income received
Ø  Day book
Ø  Bank account

Part B
Q. What do you mean by verification and valuation of assets? Distinguish between them.
Q.What are the objectives of verification and valuation of assets? Discuss the auditor’s duty in regard to valuation and verification of assets.
Q. How would you verify the following?
Ø  Intangible assets
Ø  Live stocks
Ø  Leasehold property
Ø  Contingent liabilities


Unit 3
Part A
Q. What is dividend? As an auditor, state the legal provisions relating to the payment of final dividend.
Part B
Q. Explain the procedure of issue of shares at a premium and at discount under the provisions of the companies Act, 2013. Point out the auditor’s duties in this connection.
Q. What are various types of reserves? Explain them including Secret Reserve.
Q. Explain the procedure of transfer and transmission of shares. What are the auditor’s duties in this regard?
Q. Write short notes In regard to auditor’s duty on:
Ø  Payment of dividend out of capital
Ø  Payment of interest out of capital
Ø  Issue of shares
Ø  Issue of Debentures
Unit 4 (OLD COURSE ONLY)
Part A
Part B
Q. What are various characteristics of Investigation? What special points should you bear in mind in carrying out an investigation on behalf of an individual who wants to buy an existing business?
Unit 5 (UNIT 4 OF NEW COURSE)
Part A
Q. What are Various Types of Audit Report? Mention the contents of Statutory Report. Explain auditor’s duties in this regard.
Q. What are various types of audit report? Explain them briefly.
Part B
Q. What do you mean by financial audit? What are its objects? Discuss briefly its advantages and disadvantages.
Q. Distinguish between cost audit, management audit and financial audit.
Q. Write short notes on:
Ø  Proprietary audit
Ø  Efficiency audit
Ø  SSAP