LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.Com. DEGREE EXAMINATION – COMMERCE

SIXTH SEMESTER – APRIL 2011

CO 6607 – AUDITING

 

 

 

Date : 11-04-2011              Dept. No.                                                    Max. : 100 Marks

Time : 1:00 – 4:00

 

SECTION-A

ANSWER ALL QUESTIONS                                                                  (10×2=20)

 

1. Define Auditing.
2. What are the different kinds of Audit?
3. Define Internal control.
4. What is internal Audit?
5. Define vouching.
6. What are the objects of verification of assets?
7. Explain verification of Contingent liabilities.
8. Who can be appointed as an Auditor?
9. What are the qualifications for a company Auditor?
10. What is Audit report?

SECTION-B

 

ANSWER ANY FIVE QUESTIONS                                                       (5×8=40)

 

11. Explain the scope, objectives and importance of Auditing.
12. What is Audit working paper? How is it important?
13. As an Auditor, how will you vouch the cash sales of a company?
14. What is Audit programme? What are its contents?
15. Distinguish between verification and valuation assets.
16. Write a note on removal of an company Auditor.
17. Explain the liabilities of an auditor of a company.
18. Explain the importance and objectives of Audit notebook.

                              

SECTION-C

 

ANSWER ANY TWO QUESTIONS                                                       (2×20=40)

 

19. What is “internal check”? What are the criteria for good internal check?
20. “Vouching is an essence of audit”- Explain this statement and also state the importance of

vouching.

21. “The twin purposes of an Audit are the prevention and detection of Errors and Frauds” –

Discuss.

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