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Tuesday, April 22, 2014

Dibrugarh University - Auditing 2013 (Old Course)

2013
Commerce (General/Speciality)
Full Marks: 70
Time: 3 Hours

1. (a) What do you mean by Continuous audit? How does it differ from periodical audit? What are its disadvantages?                 4+4+6=14
Or
(b) Define Internal Check and discuss the procedures to be adopted in regard to internal checking of cash sales.                 4+10=14

2. (a) (i) “Vouching is the essence of an audit.” Discuss the statement.   6

(ii) what is routine checking? Mention the advantages of his checking.       4+4=8
Or
(b) “An auditor is not a valuer, yet he is intimately connected with the valuations.” In the light of the above statement, discuss the duties of an auditor with the valuation of assets.                       14

3. (a) State clearly the rights and duties of an auditor of a company under the Indian Companies Act.
Or
(b) What is dividend? As an auditor, state the legal provisions relating to the payment of final dividend. 5+9=14

4. (a) Outline the points involved in audit of an education institution.      14
Or
(b) Mention the differences between audit and investigation. Explain in detail the procedure for an investigation.                7+7=14

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