BCom In Accounting & Finance (BCAF) SEM V 2017 18 Nov 2017-18 AUDITING Question Paper - Mumbai University | munotes

Questions asked in this paper

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1. Q2 Question no 2, 3, 4, & 5 is compulsory with internal choice
2. Q3 Figures to the right indicate marks
3. Q1 A) Rewrite the statement and state whether True or False. (Attempt any 8) 8 marks
4. Q1 Auditing around the computer" is most appropriate when the client has not maintained detailed output or source documents in a form readable by humans
5. Q2 "The use of computer facilities by a small enterprises may increase the control risk"
6. Q3 Output controls focus on detecting errors after processing is completed rather than preventing errors prior to processing
7. Q4 Aclient imposed scope limitation will generally result in disclaimer of opinion
8. Q5 If financial statement contains a material departure from the generally accepted accounting principles, the auditor s usually should not issue an unqualified opinion
9. Q6 An interior decorator will be subject to tax audit only if his gross receipts exceed 10 marks
10. Q7 Achartered accountant who s in employment of a concern cannot be appointed as
11. Q8 An auditor gives a qualified report when the accounts are reflecting true and fair
12. Q9 A practicing CA is allowed to promote the work done by him
13. Q10 An auditor has to sign the auditors report
14. Q1 B) Multiple choice question. (Any 7) 7 marks
15. Q1 The auditor of a company shall have a right of access to the books of accounts
    • a) after the year end b) 3 months after the year end
    • c)3 months before d) at all times
    • ii) When the auditor is not provided the information required by him, he should
    • a) to the Central Government b) to the Registrar of Companies
    • c) to the Institute of CA of d) to the members
    • a) Fraud b) Misstatement
    • c) Breach of trust or duty d) Negligence
    • Q.P. Code: 23324
    • iv) For the purpose of tax audit Film acting is considered as
    • a) profession b) business
    • c) both d) none
    • v) The expression 'Management Consultancy and Other Services "shall not
    • a) Financial management n planning and financial policy determination
    • b) System analysis and design
    • d) Acting as liquidator
    • vi) A person is debarred from having his name entered in or borne on the Register of Members, if
    • a) if he has not attained the age of 21 at the time of applying for registering his name
    • b) He is of unsound mind and stands so adjusted by a competent court
    • c) If he is an undischarged insolvent
    • d) any of the above
    • vii) A control that relates to all parts of the IT system is called a or an
    • viii) Auditors should evaluate the before evaluating application controls because of the potential for pervasive effects
    • ix) The auditors has the right to
    • a) Obtain information and explanations
    • b) Obtain information and explanations from the employees and officers
    • c) Obtain information and explanation necessary for the purpose of audit
    • d) Both (b) and (c)
    • x) Where a company has a branch office in India or outside India, proper books of accounts relating to the transactions effected at the branch office should be kept
    • a) the branch office b) the registered office
    • c) both the branch and registered office d) the head office
16. Q2 a) Give the meaning of "Professional Misconduct "as per Chartered Accountants Act 1949. Also state any five clauses which constitute professional misconduct. (8)
17. Q2 b).Explain the problems in CIS environment in implementation of Internal control
18. Q2 p) Explain auditing done around the computers and auditing through the computers. 8 marks
19. Q2 q) What do you mean by CARO Reporting, what matters should be included in the report with inventories and fixed assets under CARO 2013 by an auditor. (7)
    • Q.P. Code: 23324
20. Q3 a) What is report? Explain the different types of report that an auditor prepares. 15 marks
21. Q3 p) What is Tax Audit Report in form No 3 CD and how does an auditor give his opinion with regards to the same? (8)
22. Q3 q) What do you mean by "Misfeasance ".When can an auditor be held liable
23. Q4 a) While qualifying a report what things must be kept in mind by the auditor State few reasons for qualifying a report. (8)
24. Q4 b) Give the features of effective Computerized Audit Program and give its advantages. 7 marks
25. Q4 p) What are the duties of an auditor? 8 marks
26. Q4 q) Explain the provisions of Companies Act, 2013 regarding Branch audit. 7 marks
27. Q5 a) Explain in detail the provision of the Income Tax Act, 1961 u/s 44 AB
28. Q5 b) Distinguish between Computer based system of accounting and
29. Q5 p) Write short notes (any3) 15 marks
30. Q1 Audit Trail
31. Q2 Test Pack
32. Q3 Joint Auditors
33. Q4 Tax Auditors
34. Q5 Negligence

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