B.Com In Banking & Insurance (BCBI) Sem V 2015 2016 April 2016 AUDITING Question Paper - Mumbai University | munotes

Questions asked in this paper

• (2) - Figures to the right indicate full marks,

1. Q2 First auditor ofa company shal] be appointed by the
   • a) Board of directors b) Shareholders
   • c) Government d) RBI
2. Q3 Fraud and Deception js liability in the companies Act
   • a) Civil b) Corporate
   • c) Criminal Audit is with verification of Performance of environment to control Pollution and their efficiency to conserve‘environment
   • a) Social b) Systems
   • c) Energy d) Environment asset is one which has been Classified as NPA for a
   • a) b) Loss
   • c) Substandard d) Standard
3. Q6 an auditor to conduct an audit in an effective
4. Q7 The appointment of the auditor of a bank is by the relevant Whether following statement are True or False : 8 audit is derived from the Latin word Audire, Vouching is the examination of the underling which is in 4 support of the accuracy of a transaction,
5. Q3 Auditing is compulsory for sole trader, partnership etc
6. Q4 The board is empovered to declare interim dividend only
7. Q5 auditor includer the right to receive notice of AGM
8. Q6 asset does not pore any recovery problems and is well within the normal risk associated with banking business
9. Q7 Audit programme should be rigid
10. Q8 Management Audit is also called efficiency audit
    • (a) What is internal control? Explain the role ofauditorsinthisregard?
    • (b) How would you vouch for Advertisement expenses ofa company? 7
    • (c) What are the basic Principles of. Auditing? 8
    • (d) Whatare the Auditors duties regarding? 7
11. Q3 Discuss liabilities of Auditors under the Act, 1956. 8 marks
    • (6) provisions of the companies Act, 1956 maintenance of books of accounts? 7
    • (c) Explain the qualification isqualification of company Auditor. 8
    • (d) Discuss the different types of audit reports. 7
12. Q4 (a) How would an auditor audit business income ofa bank? the Role of IRDA? 7 8 marks
    • (c) How would an auditors evaluate internal control system ofa bank? 8
    • (d) What is the procedure to be adopted by an auditor for verification of é Premium in general insurance company? 7
    • S. (a) Explain the role of professional accountant in society. 8
    • (b) note an types of committee. 7
    • (c) What is social audit? What are it's objectives? fundamental principles of code of ethics? 7

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