LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.Com. DEGREE EXAMINATION – COMMERCE

KP 35

SIXTH SEMESTER – April 2009

CO 6607 – AUDITING

 

 

 

Date & Time: 25/04/2009 / 9:00 – 12:00       Dept. No.                                                       Max. : 100 Marks

 

 

SECTION-A                           (10*2=20 MARKS)

 

ANSWER ALL QUESTIONS

 

1. What is an Audit?
2. State the various objectives of an Audit
3. What is meant by Internal Audit?
4. What is an Audit programme?
5. What is object of vouching the cash book?
6. What is meant by the term “Verification of Assets”?
7. What is an Audit note book?
8. What is audit working paper?
9. What is ‘Teeming and Lading’?
10. What is an Audit report?

SECTION-B                           (5*8=40 MARKS)

 

ANSWER ANY FIVE QUESTIONS:

 

11. Explain different kinds of Audit
12. How can a company auditor be appointed?
13. Distinguish between verification of assets and valuation of assets?
14. What are the objects of Internal control system?
15. ” Vouching is the backbone of audit”-Explain
16. Outline the extent of the auditor’s liability for non-detection of frauds and defalcations
17. Give examples of vouchers you would refuse to accept,although properly stamped and signed.
18. What is meant by a system of”Internal check” and how does an auditor stand in relation thereto?

 

SECTION-C                           (2*20=40 MARKS)

 

ANSWER ANY TWO QUESTIONS

 

19. State the provisions of the companies act 1956 with regard to remuneration and removal of an auditor.
20. “Auditing begins where Accountancy ends”Explain.How does Accountancy differ from Auditing
21. What are the provisions of law regarding the qualifications and disqualifications of auditors?

 

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