Question bank SYBMS Sem 4 – Auditing

Paper pattern:-

Q1. Objectives (15 marks)

Q2. Full length questions (2 sets of 2 questions each. Attempt any one set)

Q3. Full length questions (2 sets of 2 questions each. Attempt any one set)

Q4. Full length questions (2 sets of 2 questions each. Attempt any one set)

Q5. Short notes (3 of 5)

Unit 1

1. What is the types of financial statements
2. Who are the users of financial statements
3. What is the purpose of auditing
4. How is auditing different from accounting
5. Explain the limitations of auditing
6. What are the types of errors
7. What are the types of frauds
8. Explain the responsibility of auditor with respect to frauds
9. Explain the principles of auditing
10. What is interim audit and why is it important
11. What is concurrent audit

Unit 2

1. What factors would you consider while planning an audit
2. Explain the advantages of an audit program
3. Explain methods of work in auditing
4. Explain the meaning and objective of working paper
5. Explain the contents of the working paper
6. SN- Auditors Lein on working papers
7. Explain the structure of the audit notebook
8. Explain the importance of audit notebook

Unit 3

1. Test check vs routine check
2. How to design an audit sample
3. What is internal control and what are its advantages
4. SN- Internal check vs internal control
5. Internal audit vs statutory audit
6. Explain the usefulness on an internal audit
7. SN- Internal audit control checks for sales and purchase

Unit 4

1. SN- Voucher
2. Explain the elements and treatment of audit of expenses
3. SN- Audit of contingent liability
4. Explain the elements of audit of trademarks, assets, royalties etc

For any further clarifications or doubts, please feel free to What’s-app Vipin Sir on 9820779873