B.Com. (Financial Management) SEM V 2018 19 May 2018-19 Auditing I Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q1 Auditing Means Examination Of Accounting Records
2. Q2 The Primary objective of Auditing is Reporting on the Finanacial Statements
3. Q3 Audit working papers are the property of the client
4. Q4 Audit Planning is a Continuous process
5. Q5 Auditor is a watch-dog and not a Blood — hound
6. Q6 Audit programme can be same for all
7. Q7 Audit notebook is maintained by audit staff
8. Q8 Test check reduces the liability of the Auditor
9. Q9 There is always sampling risk for the Auditor
10. Q10 Appointment of Internal Auditor is Compulsory under the Law
11. Q2 A. Define & Explain the term Auditing 8 marks
    • B. Explain The Primary objective of Auditing 7
    • C. Explain the Various Types of ERRORS 8
    • D. What is continuous Audit. Explain its Advantages & Disadvantages 7
12. Q3 A. Distinguish Between Auditing & Investigation B Explain the factors to be considered while preparing an Audit Plan (7 Marks) 8 marks
13. Q3 C Explain the Factors to be considered while preparing an Audit Programme D Explain the contents of Audit Notebook (7 Marks) 8 marks
14. Q4 A) What is Internal control ? What are the duties of the Auditor in respect of 8 marks
    • B) Distinguish Between Internal Audit & External Audit 7
15. Q4 C. Distinguish Between Internal Audit & Internal Control 8 marks
    • D. Explain the concept of Audit Sampling QNo5 A) What is Test Check ? What precautions should the auditor take while (8 Marks) resorting to Test Checks 7
    • B) Explain the Various Types of Files prepared by the Auditor 7
16. Q5 Write short notes: (any three) 15 marks
17. Q3 Secret Reserve
18. Q4 Internal Audit
19. Q5 Annual Audit

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