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    Principles Practice Auditing Sep Oct 2022

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    supritha724
    1) Auditing involves verifying financial statements and ensuring they are free from material misstatements. It includes examining records, reports, vouchers, and other documents to ascertain the accuracy and fairness of financial statements. 2) Internal check refers to controls put in place by an organization to safeguard its assets and ensure accurate financial reporting. It helps auditors rely less on detailed checking. 3) A company auditor's role is to independently examine the financial affairs of a company on behalf of shareholders. Auditors must be qualified, maintain professional ethics and confidentiality, and can be appointed or removed by shareholders.

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    Principles Practice Auditing Sep Oct 2022

    Uploaded by

    supritha724
    11 views2 pages
    1) Auditing involves verifying financial statements and ensuring they are free from material misstatements. It includes examining records, reports, vouchers, and other documents to ascertain the accuracy and fairness of financial statements. 2) Internal check refers to controls put in place by an organization to safeguard its assets and ensure accurate financial reporting. It helps auditors rely less on detailed checking. 3) A company auditor's role is to independently examine the financial affairs of a company on behalf of shareholders. Auditors must be qualified, maintain professional ethics and confidentiality, and can be appointed or removed by shareholders.

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    PrinciplesPracticeAuditingSepOct2022

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    1) Auditing involves verifying financial statements and ensuring they are free from material misstatements. It includes examining records, reports, vouchers, and other documents to ascertain the accuracy and fairness of financial statements. 2) Internal check refers to controls put in place by an organization to safeguard its assets and ensure accurate financial reporting. It helps auditors rely less on detailed checking. 3) A company auditor's role is to independently examine the financial affairs of a company on behalf of shareholders. Auditors must be qualified, maintain professional ethics and confidentiality, and can be appointed or removed by shareholders.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    11 views2 pages

    Principles Practice Auditing Sep Oct 2022

    Uploaded by

    supritha724
    1) Auditing involves verifying financial statements and ensuring they are free from material misstatements. It includes examining records, reports, vouchers, and other documents to ascertain the accuracy and fairness of financial statements. 2) Internal check refers to controls put in place by an organization to safeguard its assets and ensure accurate financial reporting. It helps auditors rely less on detailed checking. 3) A company auditor's role is to independently examine the financial affairs of a company on behalf of shareholders. Auditors must be qualified, maintain professional ethics and confidentiality, and can be appointed or removed by shareholders.

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    Vl Semester B.Gom. ehsmination, Sept*/Oc t.2OZ2


    (CBCS) (F + R) (2016-17 and Onwards)
    COMMERCE
    Paper - 6.2: Principles and Practice of Auditing
    Time : 3 Hours Max. Marks : 70

    lnstructions : Answer sho,uld be written either in Kannada or Engtish onty.

    SECTION -A
    1. Answer any five sub-questions. Each question carries two marks : (5x2=10)
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    A) Define auditing. ,.

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    b) What is meant by vouching ?
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    c) What is internal check ?
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    d) Give the meaning of professional ethics.
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    e) What are intangible assets ?
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    f) What is tax audit ?
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    I

    g) What do yog mean by civil liability of'an company auditor ?


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    SECTION - B
    :
    Answer any three questions. gicn question carries O marks :l (3x6=l6)
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    2. Briefly explain the objectives of internal control.


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    3. What is Audit Note Book ? State its contents.


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    4. "Vouching is the essence of auditing" - Analyse.


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    5. How do you verify the following ?


    a) lnvestments
    b) Sundry creditors.
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    b) dOrl$t
    6. Briefly explain the appointment and removal of company auditor.
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    SECTION -C
    Answer any three questions. Each question carries 14 marks : (3x14=42)
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    7. Explain the various types of audit.
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    8. What is internal check and explain its advantages and disadvantages.


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    9. Briefly explain vouching of receipts or debit side of cash book.


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    10. Explain in detail the audit procedure of educational institution.


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    11. Explain the qualifications and rights of company auditor.


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