Paper I Subject Code: 44304 / Auditing -1

SfWi-5' J2)|2-]2-7

Duration 2hrs 30 minutes Maries: 75

N:B: 1. Attempt all Questions

2. Figures at Right indicate Marks.

Q. 1 (A) Write TRUE or FALSE (Any 8) 8

1. Audit should be conducted objectively.

2. Continuous Audit is Costly..
3. Error is intentional mistake in Financial statements.
4. Audit working papers is property of client.
5. Audit Planning is done before commencement of Audit.
6. Window Dressing is done to show better position than actual.
7. Test check reduces liability of Auditor
8. If fraud is detected ,auditor should neglect it.
9 Integrity is the main quality of Auditor.
10 In Valuation of stock, there should be consistency.

(B) Fill in the Blank (ANY SEVEN) 7

1. Company Auditor is appointed by----------------
2. For declaring Interim Dividend-------- Audit is done.
3. -shows Tax Deducted at Source.
4. is the Blueprint of Audit work to be done.
5.--------- is the part of Performance Audit.
6. Audit Programme is prepared by------
7. Generally Internal Audit is done by---
8. Petty Cash is checked from------
9 For Secured Loan by the company, Auditor should check-----
10. Auditor verify asset Building from-------

Q.2 (A) What do you mean by Audit? What are Principles of Audit? 8

(B) What are Qualities of Auditor? *7

OR
(C) Write Note on Secret Reserve created by the Company. 8

(D) What is mean by Interim Audit? What are advantages of Interim Audit? 7

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559AE60A60FE2A4FB7F1EE72BA5E4ACB
 Paper / Subject Code: 44304 / Auditing -1

Q.3 (A) Explain importance of Internal Control in company organization 8

(B) Distinguish between Internal Audit & Statutory Audit. 7

OR.
(C) What are points to be considered in Vouching. 8

(D) Write note on True & Fair concept. 7

Q.4 (A) How Audit of following done? 8

P) Petty Cash Q) Rent paid.

(B) Write note on Valuation of Stock 7
OR

(C) How Auditor verify Purchases? 8

(D) How verification of Debtor done by Auditor? 7

Q.5 Write short Note on (ANY THREE) 15

1) Window Dressing
2) Essentials of Vouchers
3) Audit Working Papers
4) Methods of Sampling.
5) Compensating Errors.
OR

Q;5 A) What is mean by Verification? What are its advantages?

B) Write note on Audit of Secured Loan by the Company.

^jf:*^},:^:****^*^*^*^*

10967 Page 2 of 2

559AE60A60FE2A4FB7F1EE72BA5E4ACB
 Paper I Subject Code: 44304 / Auditing -1

SfWi-5' J2)|2-]2-7

Duration 2hrs 30 minutes Maries: 75

N:B: 1. Attempt all Questions

2. Figures at Right indicate Marks.

Q. 1 (A) Write TRUE or FALSE (Any 8) 8

1. Audit should be conducted objectively.

2. Continuous Audit is Costly..
3. Error is intentional mistake in Financial statements.
4. Audit working papers is property of client.
5. Audit Planning is done before commencement of Audit.
6. Window Dressing is done to show better position than actual.
7. Test check reduces liability of Auditor
8. If fraud is detected ,auditor should neglect it.
9 Integrity is the main quality of Auditor.
10 In Valuation of stock, there should be consistency.

(B) Fill in the Blank (ANY SEVEN) 7

1. Company Auditor is appointed by----------------
2. For declaring Interim Dividend-------- Audit is done.
3. -shows Tax Deducted at Source.
4. is the Blueprint of Audit work to be done.
5.--------- is the part of Performance Audit.
6. Audit Programme is prepared by------
7. Generally Internal Audit is done by---
8. Petty Cash is checked from------
9 For Secured Loan by the company, Auditor should check-----
10. Auditor verify asset Building from-------

Q.2 (A) What do you mean by Audit? What are Principles of Audit? 8

(B) What are Qualities of Auditor? *7

OR
(C) Write Note on Secret Reserve created by the Company. 8

(D) What is mean by Interim Audit? What are advantages of Interim Audit? 7

10967 Pagel of2

559AE60A60FE2A4FB7F1EE72BA5E4ACB
 Paper / Subject Code: 44304 / Auditing -1

Q.3 (A) Explain importance of Internal Control in company organization 8

(B) Distinguish between Internal Audit & Statutory Audit. 7

OR.
(C) What are points to be considered in Vouching. 8

(D) Write note on True & Fair concept. 7

Q.4 (A) How Audit of following done? 8

P) Petty Cash Q) Rent paid.

(B) Write note on Valuation of Stock 7
OR

(C) How Auditor verify Purchases? 8

(D) How verification of Debtor done by Auditor? 7

Q.5 Write short Note on (ANY THREE) 15

1) Window Dressing
2) Essentials of Vouchers
3) Audit Working Papers
4) Methods of Sampling.
5) Compensating Errors.
OR

Q;5 A) What is mean by Verification? What are its advantages?

B) Write note on Audit of Secured Loan by the Company.

^jf:*^},:^:****^*^*^*^*

10967 Page 2 of 2

559AE60A60FE2A4FB7F1EE72BA5E4ACB
 Paper / Subject Code: 44304 / Auditins - I #{s
TqB bry I *,r,t-7/ n-r *if zs [,r - t 1

Time:2lzHours Maiks:75
All questions are compulsory subject to intemal choice.
Figures to the right indicate marks.

Objective type questions:

q.i al state ivhether the following statements are true or false: (any g) (g)
l) The primarl objecrive of auditing is cletection arrd prerenrion of emors and fi.arrcls.
2) Auditirrg can be done by an employee of the companl.
3) corrtinuous audit arrd interrral arrdit are one ard tlie same.
4) For declari'g interim dividend, interim ar-rdit is cornpursory.
5) Atrdit Plarrrring is a contirruous process.
6) Audit working papers are the property of the client.
7) Test check reduces the liability of the auditor.
8) Developi,g the inter,al control systenr is auclitor,s respo,sibility.
9) Vouching help to know the nature of transactions.
10) All errors are detected in test check.

B) Fill in the blanks: (any 7)

tn
I t Auclit lras beerr derived lrom tlre Latin wold Audire whiclt rneans to

2) Means showing the books of accounts rnore attractive.

3) _ is a unintentional mistake.
4) Internal audit is a parl of _-_ system.
5) Statr-rtory auclitor is responsible to
6) First ar-rclitor is appointed by --- of tfr. .ompany.
1) Memorandum of Association is the part of uriit fi|".
8) _---*-_---:---- error is the maxirlurr error in the population that
the auditor
riorrld he u illing to accept.
9) The auditor has to the interrral controls system.
I 0) Internal _-- is a part of internal control systent.

Q2. A)what_is Auditing? Discrss its advantages and disadvantages of

arrdrtrng'.,
(i s)
OR
Q2. B) Discuss Final ardit with its advantages a,d disadvantages? (1s)

Q3. A) Explain the contents of Audit programme? (8)

B) Explain the factors determining the sample size? (7)
OR
Q3. A) What are the auditors duties regarcling internal check? (8)
B) Discr-rss the advantages of Internal Audit? (7)

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Page 1 of 2

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 Paper / Subject Code: 44304 / Auditing - I

Q4. A) Discuss the points to be considered in the course of vouching? (8)

B) How rvould an auditor verify Receipts fiom Debtors? (l)
OR
Q4 A) How would an auditor vottch: Travelling expenses? (8)
B) How will you as an auditor verify Investtnettts? (1)

Q5 A) Explain the types of frauds in cletail? (8)

B)Horv would an auditor verify the payrxettts tnade to strpplier of goods? (B)

OR
Q 5) Shoft Notes on any 3: ('15) ',,. ,,..
A. Distinguish between Accounting and Auditing.
B. Difference between Statutory audit and [nternal audit.
C. Auditors Lien.
D. Internal audit vs Internal clreck
E. Vouchers.
**x *** ***x *lkx** * t*

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'
'. ,
'.: .i"
67.268 Page 2 of 2

32D 6C AE7 3 823 A2 A9FE2C2E7 CI 5847 7 O A

 Paper / Subject Code: 44304 / Auditing - I
rVBer/sern -yl2o-u-\1

Duration : 2.5 hours Marks:75

a
A11 questicns are compulsory
Figures to the right indicate full marks.
#*s
,j/ lraRaRY \14
ii l, :raw,rt-ro.l$
Q no 2 to 5 have Internal Options
\.i -r<;Y
a

Ql. A. Match the follovring: (Any 8) (8)

Sr no Column A Sr No Column B r-:

1 Audit Note book A Journals

2 Audit Sampling B For Future Refernece

a
J External repoft C Intentional Mistake
4 Accountancy D Balance sheet & P&L Account

5 Teeming & Lading E Information of Clients Business

6 Fraud F Preparation of FinanStatements

7 Verification G Technique of Fraud

8 Permananent Audrt Fiie E Auciit oi tess than i ti07i,
9 Principle of Intergrity I Auditor honest in his profession
10 External repgrt J Existence of Assets

Q no I B State r.vhelher the fbllowing statements are true or false (Any 7) (7)
1. Audit Programme should be flexible.
2. Routine checking is a mechanical process
3. All errors are detected in test check 1
4. Vouching means examining the documentary evidence.
5. Auditing Means Examination Of Accounting Records
6. The Primary objective of Auciiting is Reporling on the Financial Statements
7 . Audit working papers are the property of the client

8. Audit Planning is a Continuous pl'ocess

9. Audit notebook is maintaineclby audit staff
10. There is always sampling risl< for the Auditor

76t53 Page Lot2

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 't.
Paper / Subject Code: 44304 / Auditing - I

Q2. A. Define the tenn Auciiting Briefly explain its Charecteristics. (8)

B. Explain the Secondary Objective of Auditing (7)

OR
C. What preparation is Necessary by the client befbre comrlencement of Audit (8)

D. Briefly Explain tlie Auditors Duties regarcling errors & Frauds (7)

Q3 A. Distinguish Between Auditing & Investigation (8)

B Explain the factors to be considered while preparing an Audit Plan (7)

OR

Q no 3 C What is Audit Programrne" ? Explain the Advantages of an Audit Programrne (8)

D Explain Audit Sampling. How does the auditor select the sample size. (7)

Q4. What do you mean by Vouching? How.vill the Auclitor Vouch the Following (15)

a) Adverlisement Expenses b) Credit Sales c ) Salaries & Wages oaid

OR

Q no 4 \\'iiar cio !=i;g qry.rl1 By V=ellisation How will the Ar-,riitcr Vcr:ily th(: firlloi,irrc
a) Iirventories b) Computer & Peripherai c) Goodwill (1 s)

Q5. A. How would you Voucir Rental Incorne (8)

B. Explain the concept of Test Checking ancl its Advantages (1)

OR

Q5. Write shorl notes: (any three) (15)

3. Inherent Lirnitations of Auditing

76153 Pag* 2 of 2

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