BCom In Accounting & Finance (BCAF) SEM V 2018 19 May 2018-19 Auditing III Question Paper - Mumbai University | munotes

Questions asked in this paper

• (4) Figures to the right indicate full marks

1. Q1 A) State whether True or False (Attempt any 8) 8 marks
   • a) Auditor is liable for negligence
   • b) The use of computer facilities by a small enterprise may increase the control risk
   • c) Programmers should not have access to transaction data
   • d) General controls in smaller companies are usually less effective than in more Complex IT
   • e) Audit report reflects the work done by the employees
   • f) An audit report is addressed to the authority appointing the auditor
   • g) CARO order 2016 is applicable to the Banking Company
   • h) For the purpose of tax audit, advertising is held to be profession
   • i) A Chartered Accountant who is in employment of a concern cannot be appointed as tax auditor
   • j) As regards the statement of particulars to be annexed with tax audit report, the tax auditor is required to give his opinion as to whether the particulars are true and fair
2. Q1 B) Match the following (any seven) Disclaimer of opinion | Audit Report iv Expression of opinion on Financial Controls that apply to processing Statement Of transactions Certify the Prospectus SA 570 7 marks
3. Q2 a) Distinguish between Certificate and Report. 8 marks
4. Q2 b) what do you mean by Audit Report and explain unqualified and qualified
5. Q2 p) Explain the duties of an auditor. 8 marks
6. Q2 q) Discuss joint auditors. 7 marks
7. Q3 a) When is tax audit done and who is eligible to be appointed as tax auditor? 8 marks
8. Q3 b) Give the rights of an auditor. 7 marks
9. Q3 p) Give the meaning of Professional Ethics. Explain any five misconduct. 8 marks
10. Q3 q) What are the pre requisites of auditing in CIS. 7 marks
11. Q4 a) Explain the liabilities of a company auditor. 8 marks
12. Q4 b) Explain CAAT (Computer Aided Techniques) 7 marks
13. Q4 p) Explain the approach to audit in CISE. 8 marks
14. Q4 q) Explain the Auditors Duty to make Audit Report under the Companies
15. Q5 a) Distinguish between qualified report and negative report. 8 marks
16. Q5 b) Give the meaning, advantages and disadvantages of Test Data. 7 marks
17. Q5 p) Write short (any 3) 15 marks
    • i) True and Fair view
    • ii) Disclaimer of opinion
    • ii) Liability of auditor for negligence
    • v) Tax auditor

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