B.Com In Banking & Insurance (BCBI) Sem VI October 2023 October 2023 Auditing II Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q1 a) Select the most appropriate options to complete the following sentences (Any Eight) 8 marks
2. Q1 is done for specific objectives
   • ii) The profits available for the distribution among the shareholders of a company as dividend are called ili) is a distinguishable component of an enterprise that is engaged in providing an individual product or service or a group of related product or service
   • iv) is a tool to judge organisations performance and effectiveness of Personnel Management
   • v) report is prepared by a bank auditor along with statutory audit report
   • a) Accounting report b) Negative Report c) Long Form Audit Report d) Short Form Audit Report
   • vi) The remuneration of a bank auditor is fixed according to Section of Companies Act, 2013
   • vii) AS —3 deals with
   • a) Revenue Recognition b) Inventory Control c) Cash Flow Statements d) Accounting for vili) Every General Insurance Company required to create reserve
   • ix) Approach is also known as “Auditing around the computer’
   • x) Part of First Schedule deals with professional misconduct in relation to the members in QB. Match the following: [Any Seven] 07
   • a. Board of Directors 1. Social Audit
   • c. Cashier should not have ili. Pervasive Misstatements
   • d. Dividend must be paid iv. Prevents loss of data
   • f. | Maintenance of Books of accounts of Profit & Loss A/c of Banks
   • h. Misfeasance vill. Access to customer ledger
   • i. PL Breach of trust or duty FormB x. Can fix the remuneration of First Auditor
3. Q2 a) Discuss the rights and duties of company auditor. 8 marks
4. Q2 b) Explain in detail Qualification and Disqualification of Company Auditor under Section 141 of
5. Q2 c) Explain the appointment of first auditor and auditor during casual vacancies. 8 marks
6. Q2 d) What do you mean by Audit report? Distinguish between auditor’s report and auditor’s certificate
7. Q3 a) How would the auditor vouch/verify items appearing in the financial statements of a bank?
   • ii) Advances
8. Q3 b) What should be the contents of audit report of insurance company. 7 marks
9. Q3 c) How would an auditor evaluate internal control system of a bank? 8 marks
10. Q3 d) How would the auditor verify commission in insurance company? 7 marks
11. Q4 a) What are the Internal Controls in Computerised system? 8 marks
12. Q4 b) Write detailed note on Cost Audit. What are the special aspects in Computerised Audit Environment? 08 7 marks
13. Q4 d) What is a Management Audit? Mention its scope & objectives. 7 marks
14. Q5 a) What do you mean by professional misconduct? Enumerate any five instances of Part I of Schedule I of Chartered Accountant Act, 1949. 08
15. Q5 b) Explain the procedure of enquiring into charges of misconduct of Chartered
16. Q5 Write short notes on the following (Any THREE) 15 marks
    • i. AS-9

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