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    Important Questions: BC: 402 Auditing

    Uploaded by

    Muhammad Umar
    This document contains 18 important questions related to the topic of auditing for an Auditing course at AL-SYED College of Commerce. The questions cover a range of auditing topics including defining internal controls, legal provisions for auditor appointment, auditor liability, special considerations for auditing different types of organizations, audit objectives and benefits, types of audits like continuous and interim audits, audit programs, qualified and unqualified audit reports, statutory reports, differences between internal and external audits, investigating accounts for fraud, the definition of investigations versus audits, the definition of an audit and how it differs from accounting, rights and duties of auditors of public companies, and the objectives and techniques of vouching and verification.

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    Important Questions: BC: 402 Auditing

    Uploaded by

    Muhammad Umar
    105 views2 pages
    This document contains 18 important questions related to the topic of auditing for an Auditing course at AL-SYED College of Commerce. The questions cover a range of auditing topics including defining internal controls, legal provisions for auditor appointment, auditor liability, special considerations for auditing different types of organizations, audit objectives and benefits, types of audits like continuous and interim audits, audit programs, qualified and unqualified audit reports, statutory reports, differences between internal and external audits, investigating accounts for fraud, the definition of investigations versus audits, the definition of an audit and how it differs from accounting, rights and duties of auditors of public companies, and the objectives and techniques of vouching and verification.

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    B.com 2 Auditing

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    This document contains 18 important questions related to the topic of auditing for an Auditing course at AL-SYED College of Commerce. The questions cover a range of auditing topics including defining internal controls, legal provisions for auditor appointment, auditor liability, special considerations for auditing different types of organizations, audit objectives and benefits, types of audits like continuous and interim audits, audit programs, qualified and unqualified audit reports, statutory reports, differences between internal and external audits, investigating accounts for fraud, the definition of investigations versus audits, the definition of an audit and how it differs from accounting, rights and duties of auditors of public companies, and the objectives and techniques of vouching and verification.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    105 views2 pages

    Important Questions: BC: 402 Auditing

    Uploaded by

    Muhammad Umar
    This document contains 18 important questions related to the topic of auditing for an Auditing course at AL-SYED College of Commerce. The questions cover a range of auditing topics including defining internal controls, legal provisions for auditor appointment, auditor liability, special considerations for auditing different types of organizations, audit objectives and benefits, types of audits like continuous and interim audits, audit programs, qualified and unqualified audit reports, statutory reports, differences between internal and external audits, investigating accounts for fraud, the definition of investigations versus audits, the definition of an audit and how it differs from accounting, rights and duties of auditors of public companies, and the objectives and techniques of vouching and verification.

    Copyright:

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    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    of 2

    AL-SYED COLLEGE OF COMMERCE

    BC: 402 AUDITING

    IMPORTANT QUESTIONS
    1. Define internal control. Suggest a proper control system for a large scale manufacturing Co., textile mill and trading Business. 2. Discuss legal provision governing this appointment of an auditor. Briefly explain the qualification and disqualifications of an auditor. 3. Briefly explain the concept of auditors liabilities in respect of negligence, misfeasance and third party. Support your answer with the relevant cases. 4. What is meant by special point concept? Explain the special point to be kept in mind during the audit of a bank, sugar co. & textile mill. 5. Briefly explain the object and benefits/advantages of audit. 6. What is meant by continuous audit? Explain merit and demerit. 7. What is meant by interim audit? Explain merit and demerit. 8. Define audit programme. What are benefit and drawback of working with a fixed audit programme. 9. What is meant by unqualified report? How you should submit this report under annual audit. Give specimen. 10. What is meant by qualified report? How you should submit this report under annual audit. Give specimen. 11. What is statutory report? What work performed by auditor in this respect. Give specimen. 12. Difference between internal and external audit. 13. How would you investigate the accounts for discovering frauds in an insurance co., purchase of business and public co.? 14. What is meant by investigation? How does it differ from audit? 15. Define audit. What is the difference between audit and accounting? 16. What are the rights and duties of an auditor of a public limited company with reference to Companies Ordinance?

    AL-SYED COLLEGE OF COMMERCE


    BC: 402 AUDITING
    17. What is meant by vouching? What are the objectives and techniques of vouching? 18. What is meant by verifications? What are the objectives and techniques of verifications?

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