Question # 1

Define auditing. Also explain difference between auditing and accounting

Define auditing. What are the main objects of auditing?
Explain the concept of Audit and its objectives
Question # 2
Define interim audit. Discuss its advantages and disadvantages
Explain the terms internal check, internal audit & internal control. Suggest a suitable system of
internal check over sales
Question # 3
Briefly discuss the rights and duties of an audit
Question # 4
Explain the special points to be kept in mind during the audit of a sugar mill
Explain the special points to be kept in mind during the audit of an insurance company
Explain the special points to be kept in mind during the audit of a textile mill
Explain the special points to be kept in mind during the audit of a newspaper company
Explain the special points to be kept in mind while examining the account of a hotel
Question # 5
Define verification and elaborate its techniques
Define verification. Discuss in detail the techniques of verification
Explain in a comprehensive manner the techniques of verification
Question # 6
Briefly explain the audit liability f negligence and criminal liability with the support of legal
cases
Briefly explain the audits liability f misfeasance and third party. Illustrate yours answer with the
help of legal reference.
Question # 7
Explain the basic principles of internal control to be followed in a manufacturing business1
Define internal control. Suggest a suitable system of internal control over cash receipts and
payments
Question # 8
What is meant by statutory report? Give a specimen of statutory rept.
What is meant by an unqualified report? Give a specimen of such report after completing the
annual audit of a public Ltd company
Under what circumstances an audit report may become qualified. Give specimen of such a report

Explain the audit work required in connection with statutory report of a public Ltd. Company
and outline the specimen of such report
What is an annual report? Also explain the audit work involved in the submission of such a
report to the shareholder of a public Ltd. Company
Question # 9
Briefly explain in the legal procedure to be followed for the appointment of an audit in a public
ltd. Company
Explain the legal provisions governing the appointment of an audit in a listed company
Question # 10
How would you investigate the accounts of a company on behalf of a bank considering granting
loan?
Define investigation. How does it differ from audit?
Question # 11
What do you mean by commercial frauds? Explain its different kinds
Question # 12
What is continuous audit? Give the advantages and disadvantages of continuous audit
Question # 13
Define the vouching explain the main principals of vouching?
How would you vouch the following?
Cash Sales
Cash transaction
Cash receipts
Cash book
Capital expenditures
Payments of goods purchased
Preliminary expenses
Salary paid
Wages and Salaries
Traveling Expenses
Purchase of Stock
Sales Commission Paid