BCom In Accounting & Finance (BCAF) SEM III 2016 2017 Sep 2017 AUDITING Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q1 A) Say true or False (Any 8) 8 marks
2. Q1 SA 320 issued by ICAI deals with the concept of materiality
3. Q2 SA 510 deals with “going concern” concept
4. Q3 Working papers are the property of the client,
5. Q4 Vouching means comparing the entries in books of accounts with documentary evidence
6. Q5 The payee should sign on a voucher with revenue stamp, if the payment exceeds Rs. 5000
7. Q6 Appointment of internal auditor is Compulsory 7, Land cannot be subjected to physical verification,
8. Q8 Management is responsible for preparation of financial statement
9. Q9 SA 230 deals with “Audit Documentation”
10. Q10 SA 530 deals with “Audit Sampling”
11. Q1 Furniture & Fixture a. Short term
12. Q3 Salary c. Inventory
13. Q5 Stock e. Bill of Entry
14. Q6 Debentures Bill of Lading
15. Q7 Goodwill g. Liabilities
16. Q9 Current liabilities i. Owe money to the Company
17. Q10 Debtors j. Payroll
18. Q2 a) Explain the meaning of vouching and discuss its importance. 7 marks
    • b) How will the auditor vouch the following 8
    • c) Distinguish between vouching and verification 7
    • d) What are the point to be considered by auditor while vouching 8
19. Q3 A) Explain the meaning of verification and its objectives
    • B) How will the auditor verify the following
20. Q1 Plant and machinery
21. Q2 Debtors QNo (a) Discuss the qualification and disqualification of company auditor
    • (b)Explain the procedure for appointment of an auditor (
22. Q4 a) What are the points to be considered by auditor while Valuation (
    • b) How the Auditor can verify the stock
    • (c) Discuss the procedure for removal of a company auditor (7
    • (d) When is a special resolution required for appointment of a company auditor also remuneration of a company auditor
23. Q5 A) How will the auditor vouch the following 15 marks
24. Q1 Advertising
25. Q2 Rent of bad debt written off QNo 5 Short Notes (Any 3) (
26. Q1 Removal of first auditor
27. Q2 Casual Vacancy
28. Q4 Materiality

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