LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

LA 11

   B.Com. DEGREE EXAMINATION – CORPORATE SECRETARYSHIP

FIFTH SEMESTER – November 2008

BC 5401 – AUDITING

 

 

 

Date : 14-11-08                     Dept. No.                                        Max. : 100 Marks

Time : 9:00 – 12:00

PART A

Answer ALL the questions:                                                                (10 X 2 = 20)

State the meaning or concepts of the following

 

1. Auditing.
2. Voucher.
3. Audit Evidence.
4. Tick Marks.
5. Audit Report.
6. FIFO, LIFO, WIP, AS-2.
7. Audit Planning.
8. Working Papers.
9. Contingent Liability.
10. Independent Auditor.

PART B

Answer any FIVE Questions                                                                             (5 X 8 = 40)

11. Discuss the factors that are determining scope of audit testing.
12. What are the objects of internal checks?
13. Bring out the differences between provisions and reserves.
14. Explain the advantages of continuous audit.
15. What is an audit file? Explain the different types of audit file.
16. What are the professional qualities of an auditor?
17. Write a short note on the audit of impersonal ledger.
18. Explain the merits of audit programme.

 

PART C

Answer any TWO Questions                                                                            (2 X 20 = 40)

 

19. What are the objectives of audit? Explain.
20. Explain the duties and responsibilities of an auditor with regard to vouching of
21. a) Purchases b) Petty cash book                              (10 + 10)
22. How will you verify the following and explain with examples:
23. a) Sundry debtors b) Inventories
24. c) Loans and advances d) Trade creditors.                              (4 X 5 = 20)

 

 

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