B.Com In Banking & Insurance (BCBI) Sem VI October 2019 October 2019 Auditing II Question Paper - Mumbai University | munotes

Questions asked in this paper

• 2) Figures to the right indicate full marks

1. Q1 a) Fill in the blanks (Any Eight) 8 marks
2. Q1 The dividend shall be paid within days from the date of declaration
3. Q2 approach is also known as auditing around the computer
4. Q3 Tax audit is applicable to professionals whose gross receipts in any previous year
5. Q4 Every general insurance company required to create a reserve
6. Q5 It is the duty of the auditor to report to the
7. Q6 Fraud is liability in the company account. (civil, criminal, commercial)
8. Q7 Books of accounts should be preserved for years. (seven, eight, nine)
9. Q8 is the amount of profit available for distribution of dividends
10. Q9 Social audit is the assessment of performance of an organization
11. Q10 First auditor of a company shall be appointed by the (shareholders, Board of directors, company law board)
12. Q1 b) State whether the following statements are True or False. (Any seven) 7 marks
13. Q1 Part I of first schedule deals with misconduct of member in practice
14. Q2 Cost audit is useful for fixing up selling price of a product
15. Q3 HR audit is compulsory for companies
16. Q4 A chartered accountant cannot share his fees with a non — member
17. Q5 Separate application for registration has to be made for each class of general insurance
18. Q7 Audit report of nationalized bank has to be submitted to the state government
19. Q8 Auditor can give qualified certificate
20. Q9 Auditor is liable only if there is a loss to the party
21. Q10 Company cannot pay dividends without providing full depreciation
22. Q2 a) What are the disqualifications of a company auditor? 8 marks
23. Q2 b) Distinguish between auditor report and auditor certificate. 7 marks
24. Q2 c) What are the contents of audit report? 8 marks
25. Q2 d) What are the rights of company auditor? 7 marks
26. Q3 a) Explain the internal controls in a bank 8 marks
27. Q3 b) How would the auditor vouch cash & balance with Reserve Bank of India? 7 marks
28. Q3 c) Explain the legal provision for the appointment of auditor of a bank. 8 marks
29. Q3 d) Write a note on Accounting Standard 3: Cash flow statement. 7 marks
30. Q4 a) Write a note on long form audit report. 8 marks
31. Q4 b) How would the auditor verify premium in insurance company? 7 marks
32. Q4 c) How would the auditor verify claims paid in insurance company? 8 marks
    • Q.Ad) Write a note on management audit. 7
33. Q5 a) Explain the term professional misconduct. Discuss any six instances of professional misconduct indicated in part I of Chartered Accountant act 1949 8
34. Q5 b) What are the fundamental principles of code of ethics? 7 marks
35. Q5 Write short notes (any three) 15 marks
36. Q1 Branch Audit
37. Q2 Audit ceiling
38. Q5 Remuneration of the auditor

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