Auditing Question Papers 2015 (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
1. Choose the correct answer from the alternatives given below: 1x8=8
(a) Auditing
is compulsory for
(i) Small-scale business enterprises
(ii) All partnership firms
(iii) All joint stock companies
(iv) All proprietary concerns
(b) Interim
audit refers to
(i) examination of accounts
continuously
(ii) examination of accounts
intermittently
(iii) audit work to find out and
check interim profits of a company
(iv) carrying on audit for bonus
purposes at the end of the year.
(c) Internal
auditor can be removed by the
(i) government
(ii) shareholders
(iii) management
(iv) company law board
(d) The
object of internal check is to
(i) control wastage of resources
(ii) prevent errors and frauds
(iii) verify the cash receipts and
payments
(iv) facilitate quick decision by the
management
(e) Errors
of omission are
(i) technical errors.
(ii) errors of principle
(iii) compensating errors
(iv) none of the above
(f) Remuneration
of a company auditor is fixed by the
(i) shareholders
(ii) Board of Directors
(iii) Central Government
(iv) appointing authority
(g) A
company can issue redeemable preference shares, if authorised by the
(i) Memorandum of Association
(ii) Articles of Association
(iii) Companies Act, 1956
(iv) None of the above
(h) Shares
can be issued at discount under Section
(i) 76
(ii) 75
(iii) 79
(iv) 89
2. Write short notes on (any four): 4x4=16
(a) Audit note book
(b) Internal check
(c) Periodical audit
(d) Auditing in depth
(e) Cost audit
(f) Error of principle
3. (a) Define audit. What are the
essential qualities required by an auditor apart from the statutory
qualifications? 4+7=11
Also Read: 👉Auditing Solved Paper May' 2015
Or
(b) What is audit programme? State the advantages and
disadvantages of conducting audits in accordance with fixed audit programme. 3+4+4=11
4. (a) Describe the objectives of
vouching. How would an auditor proceed to vouch credit purchase? 5+6=11
Or
(b) What is the general procedure
of valuing and verifying stock-in-trade? How far an auditor is responsible for
verification of stock-in-trade? 7+4=11
5. (a) Discuss the position of an auditor under the Companies Act,
1956 with reference to his liabilities and powers. 6+6=12
Or
(b) How will you examine the
following items while auditing the accounts of limited company? 6+6=12
(i) Bonus share
(ii) Share transfer
6. (a) Discuss the various points to be considered by the auditor in
the audit of an educational institution. 11
Or
(b) What is investigation?
Discuss the general procedure followed
in an investigation. 3+8=11
7. (a) “Audit report is a
significant document bearing financial implication”. Explain the statement. 11
Or
(b) State the importance of audit
report. Briefly discuss the various types of audit report. 4+7=11