Alagappa University 2007 B.Com AUDITING - Question Paper

DISTANCE EDUCATION
B.Com. DEGREE EXAMINATION, DECEMBER 2007.
AUDITING
(Upto 2004)
Time : 3 hours Maximum : 100 marks
PART A — (5 x eight = 40 marks)
ans any 5 ques..
All ques. carry equal marks.
1. What is continuous audit? elaborate its merits?
2. Distinguish ranging from statutory audit and internal audit.
3. What is a voucher? elaborate its contents?
4. Define internal control. elaborate the objects of internal control?
5. How is auditor’s remuneration fixed?
6. What are the advantages of an audit programme?
7. Under what circumstances the interim dividend could be declared?
8. Explain the special features of investigation.
PART B — (4 x 15 = 60 marks)
ans any 4 ques..
All ques. carry equal marks.
9. ‘‘The main object to auditing is to detect and avoid errors and fraud’’ – explain.
10. As an auditor, how will you vouch the subsequent :
(a) Cash sales
(b) Credit purchases
(c) Bills receivable.
11. Explain the duties of an auditor in respect of provision for depreciation.
12. What are the provisions in the Company Act, 1956 for the appointment, qualification of an auditor of a company?
13. Explain the liabilities of an auditor under the provisions of the Companies Act, 1956.
14. How would you audit the transfer of shares in a limited company?
15. What is investigation? discuss the various circumstances of conducting investigations.

Earning:   Approval pending.