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SECTION-A

1. Define any EIGHT of the following: 2.5x8 i) INTERNAL AUDIT.

ii) AUDITOR’S LIABILITY FOR LIBEL. iii) ERRORS OF OMISSIONS AND COMMISSIONS. iv) MODIFIED OPINION.

v) NET WORTH OF A BUSINESS. vi) AUDIT MATERIALITY. vii) ROUTINE CHECKING. viii) IMP REST SYSTEM. ix) DETECTION RISK. x) FINANCIAL AUDIT.

SECTION-B

  1. What is Difference between ACCOUNTING and AUDITING? 20

  2. Define INTERIM AUDIT. Discuss its Advantages and Disadvantages. 20

  3. Define AUDIT PLANNING. What Factors should be considered by an auditor in developing an Audit Plan. 20

  4. Suggest a System of INTERNAL CONTROLS OVER PURCHASES. 20

  5. What is VOUCHING? Discuss the Procedure of Vouching in detail. 20

    1. How an auditor verifies the following assets: 20 a) PLANT AND MACHINERY.

    2. b) STOCK IN TRADE. c) CASH AND BANK.
  6. What is meant by QUALIFIED REPORT? Draft the specimen of a Qualified Audit Report. 20

  7. Discuss Rights and Duties of an auditor of a JOINT STOCK COMPANY. 20

*** B.Com. – II (09/A) ii ***

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last updated on 28-04-2019