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ECO12 Elements of Auditing December 2007
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Bachelor of Commerce (BCom)
Time: 2 hours
Maximum Marks: 50
Attempt any five questions. All questions carry equal marks.
1. Define the term auditing. Explain different modes of audit.
2. What do you mean by Internal Check system ? Outline an effective Internal Check system for cash sales.
3. What should be the qualifications of a person who can be appointed as an auditor ? Describe the procedure to be followed for removal of a company auditor.
4. Differentiate between routine checking and test checking List the advantages and limitations of test checking.
5.What do you mean by vouching ? How will you vouch the following:
(a) Rent Paid
(b) Commission received
6. Give the meaning and objectives of verification. Of assets and liabilities.How should an auditor verify patents?
7. Write a detailed note on 'Auditor as an agent of shareholders'
8. What is a qualified audit report ? Give a specimen of a qualified audit report.
9. What is Divisible Profit? How should an auditor ensure that the dividend is not paid out of capital?
10. Briefly explain the rights and duties of a company auditor?
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