LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034
B.Com. DEGREE EXAMINATION – COMMERCE
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SIXTH SEMESTER – APRIL 2008
CO 6607 – AUDITING
Date : 25/04/2008 Dept. No. Max. : 100 Marks
Time : 9:00 – 12:00
SECTION-A
Answer all the questions: 10 x 2 = 20 marks
- Define Auditing.
- List out the objectives of Auditing.
- What is continuous audit?
- What are the procedures to appoint a casual auditor in a public limited company.
- What do you mean by Internal-auditing?
- List out the various kinds of Vouchers.
- What are the documents to be examined while vouching cash sales.
- What are audit working papers?
- What is Vouching?
- How can an auditor be removed?
SECTION-B
Answer any FIVE questions only: 5 x 8 = 40 marks
- Explain the important features of a good system of internal control.
- What is meant by Audit note book and what particulars does it contain?
- Describe the procedures relating to vouching of purchase.
- What are the advantages and disadvantages of an Audit Programme?
- Discuss the various types of Audit report.
- Distinguish between the internal check and internal audit.
- Briefly explain the rights of a company auditor.
- Write short notes on
- a) Teeming and Lading b) Audit –in depth c) Qualifications of an auditor
- d) True and Fairness of accounts.
SECTION-C
Answer any TWO questions only: 2 x 20 = 40 marks
- Explain in detail the various classification of Audit.
- Describe the procedure relating to vouching of cash receipts.
- What are the general principles of verification and valuation of assets and liabilities?
How will you verify a) Inventories b) Fixed assets c) Copy rights d) Contingent liabilities.
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