Auditing and Corporate Governance Question Paper 2023 [Gauhati University BCOM 6th SEM Question Paper]

Auditing and Corporate Governance Question Paper 2023
Gauhati University BCOM 6^th SEM Question Paper

COMMERCE (Honours Core)

Paper: COM-HC-6016

Full Marks: 80; Time: 3 hours

The figures in the margin indicate full marks for the questions.

Write the answers to the two Groups in separate books.

Group – A (Auditing)

Marks: 40

1. Answer as directed:    1x4=4

(a) Internal check forms valuable part of internal control. (State whether the statement is True or False)

(b) The word ‘audit’ is derived from the Latin word _______. (Fill in the blank)

(c) Errors and frauds have the same meaning for an auditor. (Comment on the Statement)

(d) Vouching is done with reference to a _______. (Fill in the blank)

2. Answer the following: (any three) 2x3=6

(a) What is the meaning of audit?

(b) Who is a company auditor?

(c) Mention two objectives of internal audit.

(d) Mention two distinctions between cost audit and management audit.

(e) What is compensating error?

3. Write on the following: (any two)        5x2=10

(a) Primary objective of audit.

(b) Qualifications of a company auditor.

(c) Importance of Standards of Auditing (SA).

(d) Common features of valid voucher.

4. Answer the following questions: (any two)      10 x 2=20

(a) What is the meaning of computer aided auditing technique? Explain its advantages and disadvantages.  3+(4+3)=10

(b) Discuss the basic principles of audit.

(c) Explain the various rights and duties of a company auditor.

(d) What is internal check system? Distinguish between internal check and internal audit. 2+8=10

Group – B (Corporate Governance)

Marks: 40

1. Choose the correct option from the following:               1x4=4

(a) The board of directors must ensure that the company’s corporate governance policies incorporate.

(i) Corporate strategy.

(ii) Risk management.

(iii) Ethical business practices.

(iv) All of the above.

(b) Corporate governance in a form of

(i) External regulation.

(ii) Self-regulation.

(iii) Government control.

(iv) None of the above.

(c) Poor corporate governance can cast doubt on a company’s

(i) Reliability.

(ii) Integrity.

(iii) Financial transparency.

(iv) All of the above.

(d) The framework for establishing good corporate governance was originally set up by the

(i) Nestle Committee.

(ii) Rowntree Committee.

(iii) Cadburry Committee.

(iv) None of the above.

2. Briefly answer the following questions: 2x3=6

(a) What is morality?

(b) What is corporate ethics?

(c) What is good governance?

3. Answer any two from the following questions:       5x2=10

(a) Explain the principles of corporate governance.

(b) Explain the significance of corporate philanthropy.

(c) Explain the relationship between CSR and business ethics.

4. Answer any two from the following questions: 10 x 2=20

(a) Explain the different types of ethical issues in business. How to manage these ethical issues in business? Explain. 5+5=10

(b) Define codes and standards of corporate governance. Explain the significance of codes and standards on corporate governance.                       4+6=10

(c) Briefly explain the symptoms of corporate failure. Explain the common governance problems noticed in various corporate failures.                           4+6=10

(d) Discuss the provisions of CSR under the Companies Act, 2013.

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