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)
- Define Auditing.
- What are the different kinds of Audit?
- Define Internal control.
- What is internal Audit?
- Define vouching.
- What are the objects of verification of assets?
- Explain verification of Contingent liabilities.
- Who can be appointed as an Auditor?
- What are the qualifications for a company Auditor?
- What is Audit report?
SECTION-B
ANSWER ANY FIVE QUESTIONS (5×8=40)
- Explain the scope, objectives and importance of Auditing.
- What is Audit working paper? How is it important?
- As an Auditor, how will you vouch the cash sales of a company?
- What is Audit programme? What are its contents?
- Distinguish between verification and valuation assets.
- Write a note on removal of an company Auditor.
- Explain the liabilities of an auditor of a company.
- Explain the importance and objectives of Audit notebook.
SECTION-C
ANSWER ANY TWO QUESTIONS (2×20=40)
- What is “internal check”? What are the criteria for good internal check?
- “Vouching is an essence of audit”- Explain this statement and also state the importance of
vouching.
- “The twin purposes of an Audit are the prevention and detection of Errors and Frauds” –
Discuss.