B.Com In Banking & Insurance (BCBI) Sem VI October 2025 October 2025 Auditing II Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q1 a) Select the most appropriate option to complete the following sentences (Any Eight) 8 marks
   • i. of First schedule of Chartered Accountant Act deals with professional misconduct in
   • a) Members in service b) members in members generally d) other misconduct
   • ii. Tax Audit is covered under section 44AB of Forecast audit helps in identifying weak areas of the system
   • iv. If Board of directors fail to appoint first auditor, the shareholders can appoint him in EGM within from the date of incorporation
   • v. Incase of all types of deposits, auditor should examine procedure
   • vi. case of nationalized bank, the auditor shall submit his report to
   • a) Central Government b) RBI with a copy to the bank
   • c) President of India with a copy to RBI d) Bank with a copy to RBI Vii. regulates insurance sector in India vill. Books of accounts should be preserved for at least years
   • ix. The auditor of Insurance Company is appointed in
   • x. Depreciation is to be charged on the basis of of asset ox. Match the following (Any seven (07) Reserve for unexpired risk for fire : Dividend must be paid premium
   • viii. to only authorized Written Confirmation of facts
2. Q2 a) What are the qualifications & disqualifications of company auditor? 8 marks
3. Q2 b) What do you mean by “divisible profits”? What are the provisions in regard to dividends? 7 marks
4. Q2 c) What are the different types of liabilities of a company auditor? 8 marks
5. Q2 d) Explain the appointment procedure of: 7 marks
   • i) First auditor of a company ii) Appointment in case of casual vacancy
6. Q3 a) How would the auditor verify the following items appearing in the financial statements of
7. Q3 b) What do you mean by non-performing assets? Explain the audit procedure of non-performing
8. Q3 c) How would the auditor verify the following items appearing in the financial statements of an
9. Q3 d) Explain the Accounting standard (AS)13-Accounting for investments. 7 marks
10. Q4 a) detailed note on social audit. 8 marks
11. Q4 b) What are the special aspects of CIS Audit environment? What do you mean by management Audit? Explain its scope and objectives. (08) 7 marks
12. Q4 d) What do you mean by computerised audit program? Explain its features. 7 marks
13. Q5 a) What do you mean by Professional Ethics? Explain the main objectives of code of ethics 8 marks
14. Q5 b) Explain the procedure of enquiry into charges of misconduct of Chartered Accountant. 7 marks
15. Q5 c) Write Short Notes on: (any three) 15 marks
16. Q1 Audit Ceiling
17. Q2 Branch Audit
18. Q4 Duties of Company Auditor

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