Bangalore University 2007 B.Com V semester , ./ (Semester scheme) COMMERCE Elective -5.6: Auditing - I - Question Paper

V semester B.Com examination, Nov./Dec. 2007
(Semester scheme)
COMMERCE
Elective Paper-5.6: Auditing - I
Time : three hrs max. marks:90
SECTION-A
1. Answer any 10 sub-questions. every sub ques. carries two marks (10x2=20).
a) Give the meaning of embezzlement of cash.
b) What do you mean by compensating error?
c) What is routine checking?
d) Name 2 kinds of audit report.
e) What is a project?
f) Why journal voucher is used in computerized accounting?
g) Expand EDP and CAAT.
h) What is statutory audit?
i) What is deferred revenue expenditure?
j) State 2 kinds of internal control.
k) Define internal check.
l) What is a tangible asset?

SECTION-B
ans any 5 of the subsequent. every ques. carries five marks.
2. "An auditor is a watch-dog and not a blood-hound". explain.
3. State the limitations of audit.
4. What are the objectives of verification of assets?
5. What is meant by CAAT?
6. Briefly discuss internal check as regards cash sales.
7. State the contents of audit note book.
8. What is meant by manipulation of accounts?
9. Explain Government audit.

SECTION-C
ans any 3 of the subsequent. every ques. carries 15 marks.
10. Bring out the steps to be taken by an auditor before commencing a new audit of a company.
11. How do you verify the following:
a) Sundry creditors
b) Bills payable
c) Contingent liability
12. What is an audit report? discuss the contents and essential features of a good audit report.
13. Explain audit working papers and audit files as vital tools of an audit work.
14. What are the statutory qualification and duties of an auditor?

Earning:   Approval pending.