File Details:

Questions:

1. What is continuous audit?
2. What is investigation?
3. What is Tax Audit?
4. What are the objectives of verification of assets?
5. What is social audit?
6. What is audit note book?
7. What do you mean by vouching?
8. What is subsequent audit?
9. What is audit programme?
10. What is cost audit?
11. What are the demerits of continuous audit? How can you eliminate these demerits?
12. Describe the disadvantages of internal check.
13. State briefly the essentials of a successful auditor.
14. What is test checking? Explain its merits and demerits.
15. Explain the statement: 'Auditor works like a watchdog not like a bloodhound.'
16. What is the difference between verification and valuation of assets?
17. What are the rules regarding the appointment of an auditor? Explain.
18. What are the different types of frauds? Can the auditor prevent these frauds?
19. How would you conduct the audit of an insurance company?
20. Discuss the duties of an auditor of a company.
21. How can a company fill the position of an auditor vacated due to death or resignation?
22. Explain the significance of vouching as the backbone of auditing.
23. What is forfeiture of shares? Discuss the duties of an auditor regarding forfeiture of shares.
24. What do you mean by divisible profit? What are the legal decisions regarding the distribution of profit?
25. What is dividend? Explain the duties of an auditor in this regard. Can dividend be declared out of capital?