BCom In Accounting & Finance (BCAF) SEM II 2014 2015 2015 AUDITING Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q1 A) State whether True Or False. (any 8) 8 marks
   • 1. audit report indicate that the business will continue to be profitable in future
   • 2. Errors are usually more difficult for an auditor to detect than frauds
   • 3. program is a part of permanent audit life
   • 4. An audit program helps to fix the responsibility of each audit assistance in case of any mistake
   • 5. The audit technique of confirmation is formal inquiry from insiders
   • 6. Basically the management is responsible for establishing and operating the internal contro ;
   • 7. Separate staff is appointed to conduct internal checks
   • 8. Statutory audit cannot start unless internal audit is complete D 9. The internal auditor must be appointed in A.G. M. every year
   • 10. Internal auditors are appointed by statutory auditors 4 B) Match the following columns(any 7) (7)
   • 2. Unintentional Mistake
   • 4. SA dealing with internal audit d) Prevention of errors or frauds :
   • e) Audit Program
   • 6. Audit planning
   • 7. Making less provision for
   • 8. Audit Prograr h) Appointed by management timing, extent of
2. Q2 A) Distinguish between accounting and auditing
   • B) Explain the basic principles of audit. (1)
   • C) What is fraud . Explain its types
   • D) What is secret reserves
3. Q3 A) Distinguish between internal audit and statutory audit
   • B) Distinguish between statutory and voluntary audit
   • C) Explain Test check and its importance
   • D) Explain sampling risk . What is the relation between sampling risk and sample size

Read from the scan above, so a character or two may differ. The scan is the original.