Exam Details
| Subject | Elements of Auditing | |
| Paper | ||
| Exam / Course | Bachelor Degree in Commerce | |
| Department | School of Management Studies (SOMS) | |
| Organization | indira gandhi national open university | |
| Position | ||
| Exam Date | December, 2016 | |
| City, State | new delhi, |
Question Paper
No. of Printed Pages: 4 IECO-012I
BACHELOR'S DEGREE PROGRAMME
Term-End Examination
December, 2016
ELECTIVE COURSE: COMMERCE ECO-o12 ELEMENTS OF AUDITING Time 2 hours Maximum Marks 50 Weightage 70%
Note: Attempt any five questions. All questions carry equal marks.
1. Why should individuals and private firms go in for audit of their accounts when they are not required to do so under any law? State the advantages of audit of such firms.
2. What do you mean by 'Auditing'? Explain and state the objectives of auditing. What is the difference between auditing and investigation?
3. What is Vouching? How should an auditor vouch the following items:
Interest received on loans and advances
Payment to creditors
4. Differentiate between Verification and Valuation of Assets.
How should an auditor value live stock which is held in a firm for business purposes?
5. Explain the procedure for appointment of a company auditor. Can the same auditor be appointed after the expiry of his term? State the rules relating there to.
6. What do you mean by distributable profits of a public company? How should the auditor judge that the dividend has not been paid out of capital?
7. What do you mean by a Qualified Audit Report? Draft an imaginary qualified audit report of a company specifying atleast three qualifications.
8. State meaning and objectives of Cost Audit.
State meaning and objectives of Management Audit.
9. Write short notes on
Test checking
Disqualification of a company auditor
BACHELOR'S DEGREE PROGRAMME
Term-End Examination
December, 2016
ELECTIVE COURSE: COMMERCE ECO-o12 ELEMENTS OF AUDITING Time 2 hours Maximum Marks 50 Weightage 70%
Note: Attempt any five questions. All questions carry equal marks.
1. Why should individuals and private firms go in for audit of their accounts when they are not required to do so under any law? State the advantages of audit of such firms.
2. What do you mean by 'Auditing'? Explain and state the objectives of auditing. What is the difference between auditing and investigation?
3. What is Vouching? How should an auditor vouch the following items:
Interest received on loans and advances
Payment to creditors
4. Differentiate between Verification and Valuation of Assets.
How should an auditor value live stock which is held in a firm for business purposes?
5. Explain the procedure for appointment of a company auditor. Can the same auditor be appointed after the expiry of his term? State the rules relating there to.
6. What do you mean by distributable profits of a public company? How should the auditor judge that the dividend has not been paid out of capital?
7. What do you mean by a Qualified Audit Report? Draft an imaginary qualified audit report of a company specifying atleast three qualifications.
8. State meaning and objectives of Cost Audit.
State meaning and objectives of Management Audit.
9. Write short notes on
Test checking
Disqualification of a company auditor
Other Question Papers
Departments
- Centre for Corporate Education, Training & Consultancy (CCETC)
- Centre for Corporate Education, Training & Consultancy (CCETC)
- National Centre for Disability Studies (NCDS)
- School of Agriculture (SOA)
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Subjects
- Accountancy-I
- Accountancy-II
- Business Environment
- Business Organisation
- Company Law
- Economic Theory
- Elements of Auditing
- Elements of Costing
- Elements of Income Tax
- Elements of Statistics
- Management Theory
- Mercantile Law
- Money, Banking & Financial Institutions