Auditing Question Paper 2012 (May)
COMMERCE (Old Course)
Course: (Auditing)
Time: 3 hours
The figures in the margin indicate full marks for the questions
(NEW COURSE)
Full Marks: 70
Pass Marks: 28
Or
(b) What are the ways to plan an internal audit? Discuss the
advantages and disadvantages of the use of an audit programme. 4+10=14
2. (a) What are the objects of verification of assets? State the
differences between routine checking and vouching. 7+7=14
Or
(b) How would you verify the following specific assets? 3.5x4=14
(i) Patents rights
(ii) Intangible assets
(iii) Live-stock
(iv) Leasehold property
3. (a) Explain the procedure of issue of shares at a premium and
at discount under the provisions of the companies Act, 1956. Point out the
auditor’s duties in this connection. 7+7=14
Or
(b) What do you mean by the term ‘Dividend’? Discuss in the light
of legal decisions whether profit or revaluation o assets can be distributed as
dividend. 4+10=14
4. (a) What are the special points you should keep in mind while
auditing the accounts of a Banking companies? 14
Or
(b) One of your clients desiring to join an existing partnership
concern as a partner entrusted you to the special points to be borne in mind by
you in carrying out such investigation. 14
5. (a) What is statutory report? What are the auditor’s duties in
this connection? 4+10=14
Or
(b) What do you mean by Management Audit? Discuss briefly the
advantages and disadvantages of Management Audit. 4+5+5=14
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