1. How is Auditing different from accountancy? State the important advantages of audit of accounts of a firm.

2. What do you understand by Internal Check? Suggest a suitable internal check system for a departmental store.

3. What do you mean by Vouching? How will you establish the authenticity of a voucher?

4. What is verifications of assets? How does an auditor verify?

Stock-in-trade

Trade debtors

Specify the rules for appointment of the first auditor of a company.

Enumerate the principles which grown the status of a company auditor.

6. How will you as an auditor, of the company? Examine the following

Shares issued in consideration other than cash.

Forfeiture of shares

7. What do you understand by a Qualified Audit Report? Give a specimen of qualified audit report incorporating atleast three qualifications.

8. What is Cost Audit? financial audit? How does it differ from

9. Write explanatory notes on any two of the following:

Qualities of a Good Auditor

Internal Control

Internal Audit

Test Checking