University of Pune 2010 M.Com Commerce ADVANCED AUDITING ( – III) (2002 Pattern) - Question Paper

INI II IIIII II III    [3870] - 24

M.Com. (Part - II) (Term End) Examination, 2010 Group A : Advanced Accounting & Taxation ADVANCED AUDITING (Paper - III) (2002 Pattern) (Old)

Time : 3 Hours    Max. Marks : 60

N.B. : i) All questions are compulsory.

ii) All questions carry equal marks.

1.    How would you verify the following items included in the stock in trade appearing in the Balance Sheet ?

a)    Goods sent out on consignment

b)    Goods sent out on sale or return

c)    Goods sold on Hire-purchase.

OR

Auditing begins where Accountancy ends. Explain. How does accountancy differ from auditing ?

2.    No dividend shall be payable except out of profits. Discuss.

OR

What is Investigation ? Distinguish Investigation from Audit.

3.    Write short notes (any three) :

a)    Tax audit U/S 44AB of Income Tax Act 1961

b)    Importance and need of Accounting Standards.

c)    Various objects of an audit

d)    Audit of Share Capital Transactions

e)    Audit Programme.

4.    Discuss briefly, giving illustrations, the auditors liability for negligence in the performance of his duties.

OR

In what circumstances does an auditor of a company find it necessary to quality his report to the members of the company ? Give a specimen qualified audit report.

B/II/10/530

Attachment: university-of-pune-2010-m-com-commerce-27628-1.pdf

Earning:   Approval pending.