File Details:

Questions:

1. What are the qualities of an auditor?
2. Explain the terms "True and Fair" given by an auditor in his audit report.
3. Distinguish between "Internal Audit" and "Internal Check".
4. What are the contents of "Audit Note Book"?
5. Distinguish between Cost Audit and Management Audit.
6. What do you mean by CAG? Explain.
7. What are the objectives of Audit?
8. Distinguish between a partnership firm and company as far as audit is concerned.
9. Distinguish between valuation and verification of assets.
10. How can an auditor be removed in a company?
11. Elucidate the statement: "Accounting starts when book-keeping ends and auditing starts when accounting ends." Explain the advantages that accrue from audit.
12. Draw an Audit Engagement Letter for the engagement of an audit firm.
13. Define 'Voucher' and 'Vouching'. How will you carry out vouching of cash book in a company as an auditor?
14. What are the responsibilities of Management vis-a-vis Auditors regarding internal controls in a company?
15. Design a system of internal check for wages payments in a manufacturing company.
16. Draft a qualified audit report mentioning at least three qualifications.
17. How is remuneration of an auditor fixed in a company? Explain the powers and duties of auditors in a company.
18. What do you mean by divisible projects and dividends in a company? Explain the procedure of completing audit of divisible projects and dividends in a company.
19. Write short notes on: Test checking, Audit of Inventories in a Company, Bank Audit, Cost Audit, Basic Principles Governing an Audit.