LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034
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B.A. DEGREE EXAMINATION –CORPORATE
FIFTH SEMESTER – APRIL 2007
CR 5401 – AUDITING
Date & Time: 04/05/2007 / 1:00 – 4:00 Dept. No. Max. : 100 Marks
SECTION – A
ANSWER ALL THE QUESTIONS (10×2=20)
- What is private audit?
- List down any four examples of contingent liabilities.
- What is audit notebook?
- Bring out the objects of vouching.
- Give any two differences between reserve and provision.
- What is meant by journal proper?
- Explain the types of audit programme.
- What do you understand by the term “sinking fund”?
- Write down the list of vouchers involved in purchase of building.
- Give any four examples of working paper.
SECTION – B
ANSWER ANY FIVE QUESTIONS: (5×8=40)
- Explain the objectives of an audit.
- What are the characteristics and limitations of internal control?
- Explain the term “capital reserve”. What are the duties of an auditor with regard to capital reserve?
- Distinguish between internal audit and statutory audit.
- What are the pros and cons of internal check system?
- Describe the auditor’s duty in connection with stock – in – trade.
- Write short notes on a) working papers b) Test checking.
- Discuss the points to be noted by an auditor while examining the vouchers.
SECTION – C
ANSWER ANY TWO QUESTIONS: (2×20=40)
- Explain the concept of internal check. Describe the system of internal check as to wages and stores.
- Define “Auditing”. What are the different classes of audit and explain any three in detail.
- How would you vouch the following:
- Capital expenditure
- Receipts from debtors
- Cash sales
- Credit purchases.
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