Bangalore University 2006 B.Com V semester , ./ (Semester scheme) COMMERCE Elective -5.6: Auditing - I - Question Paper

V semester B.Com examination, Nov./Dec. 2006
(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) What are compensating errors?
b) State any four advantages of auditing.
c) Write any 2 elements of fraud.
d) What is confirmation?
e) What are intangible assets?
f) Define internal auditing.
g) Define verification of assets.
h) Define audit working papers.
i) State any 2 disadvantages of audit note book
j) State the various steps involved in using accounting software.
k) State any 2 precautions against disadvantages of audit programme.
l) Name the kinds of audit files.

SECTION-B
ans any 5 of the subsequent. every ques. carries five marks.
2. Briefly state the advantages and disadvantages of interim audit.
3. Briefly state the instructions to be provided to the client before commencement of true audit work.
4. State the important contents of audit note book.
5. Distinguish ranging from Internal check and internal audit.
6. State the internal check procedure that should be adopted to avoid fraud in payment of wages.
7. How do you verify Land and Building and Goodwill?
8. State the need for proper verification and evaluation of stock in trade.
9. Explain two various ways in which computerized audit can take place.

SECTION-C
ans any 3 of the subsequent. every ques. carries 15 marks.
10. Discuss briefly the advantages and limitations of auditing.
11. Suggest a system of Internal check in respect of Purchase of Raw materials of a large manufacturing organisaton.
12. Explain in detail the various methods used to ascertain the cost price of stock.
13. Discuss the important and essentials of Audit Working papers.
14. Briefly explain Permanent and current audit files and also state the advantages of audit files.

Earning:   Approval pending.