visit: visit:
|
|
- Amanda Wade
- 6 years ago
- Views:
Transcription
1 Pt'E GQOUPI -PAPFR 2 AUDITING AND ASSURANCIr Roll No... visit: MAY 2010 IPce GROUP.IIPAPER.S AUDITINGAND ASSURANCE Total No. of Questions-] [Total No. of Printed Pages-7 Time Allowed-3 Hours Maximum Marks~lOO KVS 4 '. Answers to questions are to be given only in English except in the case of candidates who have opted for Hindi medium. If a candidate who has not opted for Hindi medium, answers in Hindi, his answers in Hindi will not be valued. Answer all questions. Marks 1. State with reasons (in short) whether the following statements are True or False: 10x2 =20 (i) While conducting audit of Government Companies, the auditors are paid their Professional Fees as prescribed by the Government. (ii) The auditor compares entries in the books of accounts with vouchers and if two agrees, his work is done. (iii) Confirmations received by the auditor directly from third parties are conclusive evidence in support of a transaction. (iv) Audit Committee is to be formed by each and every company and the auditor has no compulsion to attend the meeting of the..audit Committee. (v) A company can not declare dividends without providing for depreciation. (vi) When an auditor identifies a Misstatement resulting from fraud, it is his responsibility to communicate it to the regulatory and enforcement authorities apart frpm those charged with governance. (vii) The auditor should study the Memorandum and Articles of Association to see the validity of his appointment. (viii) A special resolution is required by company to authorise issue of shares at discount. (E&H) KVS P.T.D.
2 t visit: ~' ( 2 ) KVS,.'/J...:. IV.....,.t;?t... L cr,.~ '. Marks.... (if) The Investments made by the 'company in Government Securities like NSC, Government Bonds, etc. should be kept in'personal custody of Financial Controller of the Company.. (x) The company in which 15% of subscribed capital is held by State Financial Corporation and 10% of Subscribed capital is held by General Insurance Co., the appointment of auditor can be done by passing a general resolution at annual general meeting Comment on the following situations: MT. Y was appointed as an auditor of PQR Ltd. for the year ended at Annual General Meeting held on Mr. Y has been indebted to the company for sum of Rs. 10,000 as on , the opening date of accounting year which has been subject to his audit. However, Mr. Y having come to know that he might be appointed as auditor, he repaid the amount on One of the shareholders, complains that the appointment of Mr. Y as an auditor was invalid because he incurred disqualification U/S 226 of the Companies Act, XYZ (Pvt.) Ltd. has paid up Capital and Reserves of Rs. 60 lacs and secured Loans of N ationalised Banks having sanctioned limit of Rs. 2 lacs and outstanding balance of Rs. 23 lacs. The turnover of the company is 5.10 crores for the year ended A customer returns goods worth 40 lacs on , out of sales made during the year ended The management of CO. is of the opinion that CARO, 2003 is not applicable to the company. (c) C Ltd. declared dividend amounting to Rs. 5 lacs out of~rofits for the year ended Subsequently, it was noticed that company had failed to make provisions for Outstanding expanses ofrs. 7.0 lacs and Closing stockwas also over v.alued, which was not reported by auditors of the company. Management of C Ltd. helds auditors responsible for this situation. 3. A trader is worried that inspite of substantial increase in sales compared to earlier year, there is considerable fall in Gross Profit after satisfying himself that sales and expenses are correctly recorded and that the valuation of inventories is on consistent basis, he wants to ensure that purchases have been'truthfully recorded. How will you proceed with this assignment? (E&H) KVS 10 \,
3 . ~ I ~ visit: ( 3 ) KVS Marks 4. Discuss Internal Controls in a CIE;;Environment. Differentiate between 'Qualified report' and 'Adverse report'. 5. Draft an audit programme for conducting audit of accounts Body. 5 5 of a Local.. 5! 'The extent of audit procedure performed on corresponding figure is less compared to audit of current period figures', reporting. Justify the statement with regard to auditor's duties for reporting of comparatives under AAS 'Doing the audit in EDP environment is simpler since Trial Balance always tallies.' 5 5 Analyse the statement critically. 'A Joint Auditor is not bound by the views of the majority of the joint auditors regarding matters to be covered in the report.' 5 Justify this statement in the light of responsibilities of Joint Audit9rs under AAS How would you vouch/verify the following? 5x2=10 Reduction in Share Capital Receipt of Capital subsidy.. Write short notes on the following: 5x2=10 Substantive Procedures Audit Working Papers. '0 (E&H) KVS P.T.O.
4
5 ,pee 'PeE Gar!'!" T- P" pv1t 2 GROUp" PAPER.S Ro~~&.I}: ~.:::.G'..~.~. P...;~.~~.CJ.R~NCK AUDiJiNG AlVDASSURANCE Total No. of Questions - 7 NCV 2010 Total No. of Printed Pages - Time Allowed: 3 Hours Maximum Marks: 100 BDL-H Answers to questions are to be given only in English except in the case of candidates who'have. \. opted for Hindi Medium. If a candiqate has qot optyd for ijindi medium, his answers in Hindi will not be valued. Question No.1 is compulsory. Attympt any five questions frpm thy remaining s.~ questions. 1. Comment as a auditor on the following situations: - Marks (c) Mr. X, a partn~r in X & Co., a fjrm of, a Ch';lrter~dAccountants, died on after completing routine au<utwor:kof XYZ Compan.y'Ltd.. Mr. Y another partner of the, firm of Chartereq' AccQuntaPt~ signyd thy financial statements of XYZ Company Ltd., without reviy,wing tbe finali.zatiqnwork done by thy assistants. Government of India has appointed ~I:. M, a, retir~;dfir;mqcedirector and a,,. non-practising memberof the Institute of Ch;arteredAccountaQ~sof,India, as an auditor to conduct special audit of ABC Ltd. on tit}(grou,nd that the co.t;ilpany. was not being managed on sound business principles. The Managing Director, of the company contends that the appointment., oj Mr. M,isnot valid'because he does not hold a certificate of practice. M.N.P. Company Ltd. purchased a machinery for ~ 1.00 crore. The State Government granted the company a subsidy of ~ 40 lakhs to meet partial cost of machinery. The company credited the subsidy received from the State Government to its Profit and Loss Account for the year ended March 31, BDL-H P.T.O.
6 (2) BDL-H Marks (d) Sri & Company, a firm of Chartered Accountants was appointed as statutory 5 auditors of Aaradhana Company Ltd.. Aaradhana Company Ltd. holds 51% shares in Sarang Company Ltd.. Mr. Sri, one of the partners of Sri & Company, owed ~ 1,500 as on the date of appointment to Sarang Company Ltd. fot;.goods. purchased in normal course of business. 2. Explain briefly the technique of "Internal Control Questionnaire" to facilitate 4 the ac,cumulation of information necessary for proper evaluation of internal control. State clearly the circumstances where "Auditing through the computer" approach must be used. 6 (c) What do you mean by the term 'Sufficient Appropriate Audit Evidence'? State 6 various factors that help the auditor to ascertain as to what is sufficient appropriate audit evidence. 3. "The auditor is faced with sampling risk in both tests of control and substantive, procedures." Comment on this statement with reference to SA 530 on,"audit Sampling". ". What are the factors that determine the extent of reliance that the auditor places on results of analytical procedures? Explain ~ithreference to SA-520 on "Analytical procedures". 4. Write short notes on any four of the following: Reliability of external confirmations. 4x4 =16 Physical verification of fixed assets "at reasonable intervals". BDL-H
7 (3) BDL-H Marks (c) Verification of credit sales. (d) Factors governing modes of communication of auditor with those charged with. governance. (e) Procedures to be performed by the auditor in expressing opinion on 'going concern' assumption. 5..Mention bri~fly important points which an auditor will consider while conducting the audit of a club. What important points should an auditor keep in mind while checking receipt of income of a Non-Governmental Organization (N.G.O.)? 4 (c) State briefly the circumstances when an auditor issues a disclaimer of opinion Comment on the following: X Ltd. has its Registered Office at Mumbai. During the current accounting year 4 it shifted its Corporate Office to Delhi. The Managing Director of th Company wants to shift company's books of account to Delhi because he holds the view that there is no legal bar IIIdoing so., A partnership firm revalued its fixed assets like land and building. The firm 4 adequately disclosed the revalued amounts in the Balance Sheet. Do you, as an auditor, approve the disclosure given by the partnership firm? (c) RK. & Company are the auditors of PQR Company Ltd. The Managing 4 Director of the Company demands copies of the working papers from the auditors. Are the auditors bound to'oblige the Managing Director? BDL-H P.T.O.
8 (4) BDL-H (d) "Responsibility for properly determining the quantity and value of inventory Marks 4 rests with the management." Comment on this statement... ṙ 7. What points shall an auditor keep in mind while auditing an account of Bought 4 Ledger having a debit balance? PQR Company Ltd. removed their first auditor by passing a resolution in the 4 meeting of the Board of Directors for his removal without obtaining prior approval from the Central Government. Offer your comments in this regard. (c) R & M Company, a firm of Chartered Accountants, was appointed as statutory auditors of XYZ Company Ltd. Draft an engagement letter accepting the appointment as auditors. BDL-H \.
9
10 \,' jio ".. -~- t.o visit: PCE GQOUPI. PAPFR 2 AUDITING AND ASSURANCI' MAY 2011,pee GROUP." p,,"er.s Roll No. "...,... AUQ\1\NGAND ASSURANCE Total No. of Questions - 7 Total No. of Printed Pages - 4 Time Allowed - 3 Hours Maximum Marks ERL-H Answers to questions are to be given only in English except in the case of candidates who have opted for Hindi Medium. If a candidate has not opted for Hindi medium, his answers in Hindi will not be valued. Question No.1 is compulsory. Attempt any five questions from the remaining six questions. Marks 1. Comment on the following in relation to SAs : "The work performed by each assistant needs to be reviewed by personnel of at ' least equal competence." 5 "Audit documentation serves a number of additional purposes." 5 (c) "Management is responsible for compliance with laws and regulations." 5 (d) "Auditor shall establish an overall strategy that sets the scope, timing and 5 directions of the audit, and that guides the developmeilt.ofthe audit plan." 2. Explain various methods to obtain audit evidence. List out some examples of fraud that can be done by ledger keeper in Bought ledger and Sales ledger. 'ERL...;H P.T.O.
11 3. visit: (2) ERL-H Discuss limitations of audit. Marks Discuss prerequisites and fundamental principles to be possessed by an auditor. 4. Give various factors which result in increase in gross profit. Define depreciation and discuss various purposes of providing depreciation. 5. Mention any special points which you as an auditor would look into while auditing x2 the books of accounts of: = 16 Hospital Cinema 6. Explain the concept of Joint Audit. Discuss its advantages and disadvantages. Explain the powers of company to purchase its own securities. 7. Write short notes on any four of the following: Reissue of redeemed debentures. 4x4 = 16 (c) (d) (e) Internal control in Small Business Stratified Sampling Audit of expenditure in Government audit. Cut-off procedure. \.. ERL-H. ~
12
13 PeE It:;. visit: GQOUP r - PAWl.2 AUDITINGAND~ANa RollNo.... IPce GROUP.IIPAPEII- AUDITINGAID AlSU"'" Total No. of Questions - 7 Total No. of Printed Pages - 4 NOV 2011 Time Allowed - 3 Hours Maximum Marks OPD-H " Answers to questions are to be given only in English except in the case of candidates wlio have opted for Hindi Medium. If a candidate has not opted for Hindi medium, his answers in Hindi will not be valued. Question No.1 is compulsory. Attempt any five questions from the remaining six questions. 1. Comment on the following: Marks "It is not mandatory to send a new engagement letter in recurring audit, but 5 sometimes it becomes mandatory to send new letter." Explain those situations where new engagement letter is to be sent. Vouching of payment of taxes. 5 (c) Removal of auditor before expiry of term. 5 (d) What procedure an auditor should adopt, to test the authenticity of 5 cash at bank. 2. Explain the objectives of internal audit. How an auditor can audit allotment of debentures? 3. Explain the process of external confirmation. Give some examples where external confirmation can be used as audit evidence. What are the duties of an auditor in case of reduction of capital? ' \. OPD-H P.T.O.
14 ~ visit: " " 4. (2) OPD-H Marks What is CAATS? Why are CAAT required in Computerised information system (CIS) environment? What is Companies (Auditor's Report) Order. 2003? Explain the companies which are not covered by the CARO order. 5. Mention special points which you as an auditor would look into while auditing the accounts of a Recreation Club with facilities for indoor games and in house eatery. What are the focus points in doing propriety audits by C & AG as regards government expenditure? 6. Discuss the areas in which different accounting policies may be adopted. 6 Discuss the types of audits required under law. 5 (c) Disclosure requirements of debtors in the financial statements Write short notes on any four of the following: Importance of working papers. Reliability of Audit Evidence. (c) Audit of sale of Investments. (d) Verification of assets acquired on lease. (e) Advantages of statistical sampling in Auditing. 4x4 =16 \. OPD-H.,
15
16
17
18
19 IICX G.OUP I - PAl'll. 2 AUDITINGAND ASSURANC!' RollNo.... IP.CC. GRItJP.nPAPER" AUDtTINGANDASSURANCE Total No. of Questions ~ 7 Total No. of Printed Pages - 4 Time Allowed - 3 Hours Maximum Marks SME-H Answers to questions are to be given only in English except in the case of candidates who have opted for Hindi Medium. If a candidate has not opted for Hindi medium, his answers in Hindi will not be valued. Question No.1 is compulsory. Attempt any five questions from the remaining six questions. 1. Marks Discuss on the following: Shares issued at a discount. 5 Ceiling on number of audits in a company to be accepted by an auditor. 5 (c) Purposes of providing depreciation..5 (d) Filling of a casual vacancy of auditor in respect of a company audit Explain the concept of "True and Fair" view. 6 Mention the areas in which differing accounting policies are encountered and 10 how that would be disclosed? 3. What are the duties of Comptroller and Auditor General? 10 State any six basic elements of the Auditor's Report What are the factors that are to be considered while designing a confirmation ' request? Distinguish between Auditing and Investigation. SME-H P.T.O. \.
20 5. visit: (2) SME-H Marks What are the eight audit points to be considered by the auditor during the audit of a Hospital? As an auditor, how will you verify application and allotment money received on shares issued for cash? 6. What are the audit working papers? Discuss various contents of current file. Explain, what are the factors to be considered while "Vouching of travelling expenses"? 7. Write short notes on any four ofthe following: Audit of discounted bills receivable dishonoured. Auditor's lien.. (c).inherent risk. 4x4 =16 (d) (e) Cut-off arrangements. Examination in depth. I SME-H \..
21
22
23
24
25
26
27
Solved Answer Audit CA Pcc & Ipcc May
Solved Answer Audit CA Pcc & Ipcc May. 2010 1 Qn. 1 State with reasons (in short) whether the following statements are True or False : (i) While conducting audit of Government Companies, the auditors are
More informationGet More Updates From AUDITING DESCRIPTIVE QUESTIONS CHAPTER -1: INTRODUCTION TO AUDITING
AUDITING DESCRIPTIVE QUESTIONS CHAPTER -1: INTRODUCTION TO AUDITING 1) What are the auditor s responsibilities for Non-Detection of Frauds and Errors? 2) Statutory audit vs. Non statutory audit. 3) What
More informationPAPER 6 : AUDITING AND ASSURANCE Question No.1 is compulsory. Attempt any five questions from the remaining six questions.
Question 1 Discuss the following: PAPER 6 : AUDITING AND ASSURANCE Question No.1 is compulsory. Attempt any five questions from the remaining six questions. Relationship between statutory auditor and internal
More informationNo. of Pages: 6 Total Marks: 100
DING No. of Pages: 6 Total Marks: 100 No of Questions: 7 Time Allowed: 3 Hrs Question No. 1 is compulsory. Answer any five questions from the remaining six questions. Wherever appropriate, suitable assumption/s
More informationAUDIT IPCC NOV 2012 SOLUTIONS
CA Arvind Jain AUDIT IPCC NOV 2012 SOLUTIONS 1 Qn 1 (a) Shares issued at a discount : When shares are issued at a price, less than its nominal value, they are said to be issued at a discount. Section 79
More informationAuditing & Assurance
CA- IPC Auditing & Assurance Solution of paper May 2016 By: Rathore Institute CA. Nitin Gupta Question 1 Discuss the following (4 X 5 = 20 Marks) a) With reference to SA 550, Identification of significant
More informationAnswer to MTP_ Intermediate_Syllabus2016_June2018_Set1 Paper 12- Company Accounts & Audit
Paper 12- Company Accounts & Audit DoS, The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 1 Paper 12- Company Accounts & Audit Full Marks: 100 Time allowed: 3
More informationSUGGESTED SOLUTION IPCC NOVEMBER 2016 EXAM. Test Code - I N J
SUGGESTED SOLUTION IPCC NOVEMBER 2016 EXAM AUDIT Test Code - I N J1 1 3 2 BRANCH - (MULTIPLE )(Date : 13.10.2016) Head Office : Shraddha, 3 rd Floor, Near Chinai College, Andheri (E), Mumbai 69. Tel :
More informationCopyright -The Institute of Chartered Accountants of India
PAPER 3 : ADVANCED AUDITING Answer all questions. Question 1 As an auditor how would you deal with the following? (a) There is a sales-tax demand of Rs. 3 crores against X Ltd. relating to prior years
More informationSuggested Answer_Syl2012_Dec2015_Paper 12 FINAL EXAMINATION
FINAL EXAMINATION GROUP II (SYLLABUS 2012) SUGGESTED ANSWERS TO QUESTIONS DECEMBER 2015 Paper-12 : COMPANY ACCOUNTS AND AUDIT Time Allowed : 3 Hours Full Marks : 100 The figures in the margin on the right
More informationPAPER 6 : AUDITING AND ASSURANCE Question No.1 is compulsory. Attempt any five questions from the remaining six questions.
Question 1 Discuss the following: PAPER 6 : AUDITING AND ASSURANCE Question No.1 is compulsory. Attempt any five questions from the remaining six questions. (a) With reference to SA 320 indicate the factors
More informationPAPER 3 : ADVANCED AUDITING AND PROFESSIONAL ETHICS. Answer all questions.
Question 1 PAPER 3 : ADVANCED AUDITING AND PROFESSIONAL ETHICS Comment on the following: Answer all questions. (a) T Ltd. an Indian company, subject to Indian Income tax Act, 1961, discloses advance Income-tax
More informationCircumstances in which qualified audit report is issued
CHAPTER 3 AUDIT REPORTs & CARO, 2004 ELEMENTS OF AUDITOR S REPORT The auditor s report includes the following basic elements, ordinarily in the following layout: (a) Title: It may be appropriate to use
More informationPostal Test Paper_P12_Intermediate_Syllabus 2016_Set 4 Paper 12- Company Accounts & Audit
Paper 12- Company Accounts & Audit Academics Department, The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 1 Paper 12- Company Accounts & Audit Full Marks: 100
More informationAnswer to MTP_ Intermediate_Syllabus2016_Jun 2017_Set 2 Paper 12- Company Accounts & Audit
Paper 12- Company Accounts & Audit Academics Department, The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 1 Paper 12- Company Accounts & Audit Full Marks: 100
More informationlpea GROUp.1 PAPBR.! ACCOUNTING Total No. of Printed Pages - 11 Time Allowed - 3 Hours Maximum Marks -100 HAL
Roll No. "',... Total No. of Questions - 7 NOV 2012 lpea GROUp.1 PAPBR.! ACCOUNTING Total No. of Printed Pages - 11 Time Allowed - 3 Hours Maximum -100 AnsWersto questions are to be giv~n only in English
More informationCA - IPCC COURSE MATERIAL
CA - IPCC COURSE MATERIAL Quality Education beyond your imagination... AUDITING & ASSURANCE AMENDMENTS MATERIAL FOR MAY 2016 IPCC EXAMS DEAR STUDENTS, 90% OF THE CONTENT GIVEN IN THIS MATERIAL IS ALREADY
More informationSUGGESTED SOLUTION INTERMEDIATE N 18 EXAM. Test Code CIN 5020
SUGGESTED SOLUTION INTERMEDIATE N 18 EXAM SUBJECT- AUDIT Test Code CIN 5020 (Date :09.09.2018) Head Office : Shraddha, 3 rd Floor, Near Chinai College, Andheri (E), Mumbai 69. Tel : (022) 26836666 1 P
More informationModel Test Paper - 1 IPCC Gr. II Paper - 6 Auditing and Assurance No. 1
Model Test Paper - 1 IPCC Gr. II Paper - 6 Auditing and Assurance Question No. 1 is compulsory. 1. Discuss the following: (a) Standards collectively known as the Engagements Standards issued by AASB under
More informationAnswer to MTP_ Intermediate_Syllabus2016_Dec2017_Set 2 Paper 12- Company Accounts & Audit
Paper 12- Company Accounts & Audit Academics Department, The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 1 Paper 12- Company Accounts & Audit Full Marks: 100
More informationINTERMEDIATE EXAMINATION GROUP - II (SYLLABUS 2016)
INTERMEDIATE EXAMINATION GROUP - II (SYLLABUS 2016) SUGGESTED ANSWERS TO QUESTIONS DECEMBER - 2017 Paper-12 : COMPANY ACCOUNTS AND AUDIT Time Allowed : 3 Hours Full Marks : 100 The figures in the margin
More informationChecklist for Audit Report under CARO
CHAPTER VI Checklist for Audit Report under CARO Client s Name: Period ended: / / 200 Preliminary A. For all representations made to auditors on the basis of which the check-list is filled up, written
More information7 The Company Audit I
7 The Company Audit I BASIC CONCEPTS Appointment and remuneration of auditors (Section 224) Every company shall, at each annual general meeting, appoint an auditor or auditors to hold office from the conclusion
More informationCopyright -The Institute of Chartered Accountants of India
PAPER 6 : AUDITING AND ASSURANCE QUESTIONS 1. State with reasons (in brief) whether the following statements are True or False. (i) Fraud means misappropriation of goods or cash and artificial manipulation
More informationMTP_ Intermediate_Syllabus2016_June2018_Set 1 Paper 12- Company Accounts & Audit
Paper 12- Company Accounts & Audit DoS, The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 1 Paper 12- Company Accounts & Audit Full Marks: 100 Time allowed: 3
More informationDISCLAIMER. The Institute of Chartered Accountants of India
DISCLAIMER The Suggested Answers hosted in the website do not constitute the basis for evaluation of the students answers in the examination. The answers are prepared by the Faculty of the Board of Studies
More informationGuideline Answers for Auditing and Assurance
Join with us https://www.facebook.com/groups/cawinne Get More Updates From http://cawinners.com/ Guideline Answers for Auditing and Assurance 02.04.2016 Question 1(a): Discuss the following (4 5=20) Auditing
More informationRTP_FAC_Inter_Syl08_Dec13. Group I Paper 5 Financial Accounting
Group I Paper 5 Financial Accounting 1. Answer the following questions (give workings): (i) Mukta Ltd. purchased a machine for 40 lakhs including excise duty of 8 lakhs. The excise duty is Cenvatable under
More informationAMIT BACHHAWAT TRAINING FORUM VOUCHING EXTRA QUESTIONS
AMIT BACHHAWAT TRAINING FORUM VOUCHING EXTRA QUESTIONS Q. A trader is worried that in spite of substantial increase in sales compared to earlier year, there is considerable fall in Gross Profit after satisfying
More informationC. How will you verify/vouch the following: a) Inventory lying with Third Party b) Purchase of Motor Car (2 x 3 = 6 Marks)
IPC 44 th SESSION PROGRESS TEST -- AUDITING AND ASSURANCE No. of pages: 2 Total Marks: 75 Time Allowed: 2 Hrs PART - A (25 Marks) 1. A. State whether the following statements is True or False. Also, please
More informationPAPER 2 : AUDITING. Answer Question Nos. 1 and 2 and any four questions from the rest.
Question 1 PAPER 2 : AUDITING Answer Question Nos. 1 and 2 and any four questions from the rest. As on Auditor, comment on the following: (c) Sri Limited is a manufacturing company engaged in manufacture
More informationMCQ S QUESTION BANK - AUDITING
MASTER MINDS - QUALITY EDUCATION BEYOND YOUR IMAGINATION MCQ S QUESTION BANK - AUDITING INTRODUCTION TO AUDITING 1. The main object of an audit is a) Expression of opinion b) Detection and Prevention of
More informationIPCC November AUDIT Test Code 8059 Branch (MULTIPLE) (Date : ) All questions are compulsory. Question 1(6 marks)
IPCC November 07 AUDIT Test Code 8059 Branch (MULTIPLE) (Date : 6.07.07) (50 Marks) Note: All questions are compulsory. Question (6 marks) This is a case of external confirmation. covered by SA 505 External
More informationRoll No : 1 : Time allowed : 3 hours Maximum marks : 100. Total number of questions : 8 Total number of printed pages : 11
Roll No : 1 : Time allowed : 3 hours Maximum marks : 100 Total number of questions : 8 Total number of printed pages : 11 NOTE : All working notes should be shown distinctly. PART A (Answer Question No.1
More informationThe Institute of Chartered Accountants of India
PAPER 5 : ADVANCED ACCOUNTING Question No.1 is compulsory. Candidates are also required to answer any five questions from the remaining six questions. Working notes should form part of the respective answers.
More informationSUGGESTED ANSWERS TO MAY 2015 IPCC EXAMS AUDITING & ASSURANCE DISCLAIMER
SUGGESTED ANSWERS TO MAY 2015 IPCC EXAMS AUDITING & ASSURANCE Dear students, These suggested answers are meant for easy and quick assessment of possible outcome of IPCC aspirants for their in-advance preparation
More informationBasics of Company Audit, Documentation and Practical Aspects
Basics of Company Audit, Documentation and Practical Aspects APPOINTMENT PRACTICAL ISSUES & DOCUMENTATION REPORTING the first auditor of a company by the BOD.. 30 days from the date of registration failure
More informationSEB. (a) In the Notes to Accounts of Z Co. Ltd. as on 3l Note no. l0. lf0v?0ff
ROII NO. Total No. of Questions - 7 Tin're Allowed -3 Hours RNAL GROUP'I PAPER'3 ADVANCED AUDMNG AND PROFESSIOML ETHICS lf0v?0ff Total No. ofprinted Pages - 7 Maximun - 100 Answers to questions are to
More information. 15,00,000 20,000 ORS PE- II ~. '- GROUP-II. PAPER-S, INCOME TAX AND CENTllAl, SALES TA:X. Roll No... MAY [Total No. of Printed Pages-7
~ '- Roll No MAY 2010 PE- II GROUP-II PAPER-S, INCOME TAX AND CENTllAl, SALES TA:X Total No of Questions-6] [Total No of Printed Pages-7 Time Allowed-3 Hours Maximum -100 Answers to questions are to be
More informationAudit Evidence. What do mean by the Audit Evidence?
What do mean by the Audit Evidence? Audit Evidence Sri Lanka auditing Standard 500 provides the definition of the audit evidence as all the information used by auditors in arriving at the conclusions on
More informationGCAA. 1. (a) Compute Basic Earnings Per Share. Net profit for the year 2010
GCAA No. of Pages: 4 Total Marks: 100 No of Questions: 7 Time Allowed: 3 Hrs Question No.1 is compulsory. Answer any 5 questions from the remaining 6 questions. Working notes should form part of the answers
More informationDISCLAIMER. The Institute of Chartered Accountants of India
DISCLAIMER The Suggested Answers hosted in the website do not constitute the basis for evaluation of the students answers in the examination. The answers are prepared by the Faculty of the Board of Studies
More informationVouching. The Institute of Chartered Accountants of India
5 Vouching Question 1 How you will vouch/verify the following? (a) Provision for income tax. (4 Marks, November, 2014) (b) Retirement gratuity to employees. (4 Marks, November, 2014) (6 Marks, May, 2012)
More informationTest Series: September, 2016
MOCK TEST PAPER 2 INTERMEDIATE (IPC) : GROUP II PAPER 5: ADVANCED ACCOUNTING Question No. 1 is compulsory. Answer any five questions from the remaining six questions. Test Series: September, 2016 Wherever
More informationCompany Accounts, Cost & Management Accounting 262 PART A
Company Accounts, Cost & Management Accounting 262 : 1 : RollNo... Time allowed : 3 hours Maximum marks : 100 Total number of questions : 8 Total number of printed pages : 11 NOTE : All working notes should
More informationAnswer to MTP_Intermediate_Syllabus2016_June2018_Set 2 Paper 5- Financial Accounting
Paper 5- Financial Accounting Academics Department, The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 1 Paper 5- Financial Accounting Full Marks : 100 Time allowed:
More informationCompiled by: CA. Pankaj Garg Page 1
SA 500 Audit Evidence 1 Comment on the following: Z Ltd. had appointed an outside expert to assess accrued gratuity liability of the company. Based on the said report, the company provides Rs. 80 lakhs
More informationFile Downloaded From
DISCLAIMER The Suggested Answers hosted in the website do not constitute the basis for evaluation of the students answers in the examination. The answers are prepared by the Faculty of the Board of Studies
More informationCompiled by: Pankaj Garg (CA, CS, CWA All India Topper, Gold Medalist)
1. Comment on the following: Marks (a) The auditor of SS Ltd. Accepted the gratuity liability valuation based on the certificate issued by a qualified actuary. However the auditor noticed that the retirement
More informationDISCLAIMER. The Institute of Chartered Accountants of India
DISCLAIMER The Suggested Answers hosted in the website do not constitute the basis for evaluation of the students answers in the examination. The answers are prepared by the Faculty of the Board of Studies
More informationEND-TERM EXAMINATION
(Please Write your Exam Roll No. immediately) Exam. Roll No... END-TERM EXAMINATION DECEMBER 2006 Exam Series code: 100415DEC06200459 Paper Code : MCA-109 Subject: Financial Accounting Time: 3 Hours Maximum
More information8 The Company Audit II
8 The Company Audit II Learning Objectives After studying this chapter, you will be able to understanding The general considerations in a company audit. The procedure of auditing of share capital, debentures,
More informationf MAY 2011 RPG Question No.1 is compulsory. Attempt any five questions from the remaining six questions.
,. RollNo.... Total No. of Questions - 7 Time Allowed - 3 Hours f MAY 2011 FIJIAJ. GIt0UP.I PAPiR-4 eerporate AND ALLIED LAWS.. Total No. of Printed Pages- 7 Maximum - 100 Answers to questions are to be
More informationTHIS CHAPTER COMPRISES OF. Working knowledge of : AS 1, AS 2, AS 3, AS 6, AS 7, AS 9, AS 10, AS 13, AS 14.
Star Rating On the basis of Maximum marks from a chapter On the basis of Questions included every year from a chapter On the basis of Compulsory questions from a chapter CHAPTER 1 Accounting Standards
More informationTime allowed : 3 hours Maximum marks : 100. Total number of questions : 6 Total number of printed pages : 7
Roll No... : 1 : Time allowed : 3 hours Maximum marks : 100 Total number of questions : 6 Total number of printed pages : 7 NOTE : 1. Answer ALL Questions. 2. All references to sections relate to the Companies
More informationTime allowed : 3 hours Maximum marks : 100. Total number of questions : 8 Total number of printed pages : 12
: 1 : 222 Roll No... Time allowed : 3 hours Maximum marks : 100 Total number of questions : 8 Total number of printed pages : 12 NOTE : All working notes should be shown distinctly. PART A (Answer Question
More informationChapter-13 Verification
Chapter-13 13.1 General Principles of of Assets: Meaning Past attempt of assets is an important audit process. Primarily verification of assets is the responsibility of the management since the management
More informationTime allowed : 3 hours Maximum marks : 100. Total number of questions : 8 Total number of printed pages : 5
: 1 : RollNo... Time allowed : 3 hours Maximum marks : 100 Total number of questions : 8 Total number of printed pages : 5 NOTE : 1. Answer SIX questions including Question No.1 which is compulsory. 2.
More informationMTP_Intermediate_Syl 2016_June2017_Set 1 Paper 5- Financial Accounting
Paper 5- Financial Accounting Academics Department, The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 1 Paper 5- Financial Accounting Full Marks : 100 Time allowed:
More informationTime allowed : 3 hours Maximum marks : 100. Total number of questions : 6 Total number of printed pages : 10
Roll No... : 1 : 325 Time allowed : 3 hours Maximum marks : 100 Total number of questions : 6 Total number of printed pages : 10 NOTE : 1. Answer ALL Questions. 2. All working notes should be shown distinctly.
More informationBSc.(Hons) Banking and International Finance, BSc.(Hons) Tourism and Hospitality Management, Diploma in Public Administration and Management
BSc.(Hons) Banking and International Finance, BSc.(Hons) Tourism and Hospitality Management, Diploma in Public Administration and Management & BSc.(Hons) Public Administration and Management Cohort: BBIF/04/FT/PT
More informationCompany Accounts, Cost and Management Accounting
Company Accounts, Cost and Management Accounting Roll No.... : 1 : 262 Time allowed : 3 hours Maximum marks : 100 Total number of questions : 8 Total number of printed pages : 8 NOTE : All working notes
More informationPart A (DD/MM/YYYY) (a)* Date of Board of Directors' meeting in which consolidated financial statements were approved
FORM NO. AOC-4 CFS [Pursuant to section 137 of the Companies Act, 2013 and Rule 12 of Companies (Accounts) Rules, 2014] Form for filing consolidated financial statements and other documents with the Registrar
More informationCompanies (Auditors Report) Order, 2015 [CARO]
Companies (Auditors Report) Order, 2015 [CARO] 1. What types of Companies are specifically exempted from application of CARO? 1. Applicability: CARO 2015 applies to all Companies including a Foreign Company
More informationTHE SOCIETY OF AUDITORS AND PRIME ACADEMY 46 th SESSION - IPC - MODEL PRACTICE EXAM PAPER 5 - ADVANCED ACCOUNTING
THE SOCIETY OF AUDITORS AND 46 th SESSION - IPC - MODEL PRACTICE EXAM PAPER 5 - ADVANCED ACCOUNTING No. of Questions: 7 Total Marks: 100 No. of Pages: 7 Time Allowed: 3 Hrs Question No. 1 is compulsory.
More informationTime allowed : 3 hours Maximum marks : 100. Total number of questions : 6 Total number of printed pages : 8
Roll No... : 1 : 331 Time allowed : 3 hours Maximum marks : 100 Total number of questions : 6 Total number of printed pages : 8 NOTE : 1. Answer ALL Questions. 2. All references to sections relate to the
More informationScenario 2: i. Paid up capital 30 lakhs ii. General Reserve 15 lakhs iii. Revaluation Reserve 20 lakhs. CA Vikas Oswal
COMPANIES (AUDITOR S REPORT) ORDER, 2003 [Issued in terms of Section 227(4A) of the Companies Act, 1956] Matters to be included in the Report: The matters to be included in our report are specified in
More informationPAPER 6: AUDITING AND ASSURANCE PART I : ACADEMIC UPDATE (Legislative Amendments / Notifications / Circulars / Rules / Guidelines issued by Regulating Authority) 1. In exercise of powers conferred by section
More informationPAPER 6 : AUDITING AND ASSURANCE QUESTIONS
Nature of Auditing PAPER 6 : AUDITING AND ASSURANCE QUESTIONS 1. (a) Auditors of M/s Fortune India (P) Ltd. were changed for the accounting year 2011-12. The closing stock of the company as on 31.3.2011
More information1. NATURE OF AUDITING
Dear Students, Following questions are newly added in the April 2016 edition of ICAI Practice Manual. Since these questions are newly added by ICAI we were unable to cover them in our 35 th Edition materials.
More informationClass B.Com. V Sem. (Hons.)
SYLLABUS Class B.Com. V Sem. (Hons.) Subject Auditing UNIT I Introduction, Meaning & Objectives, Fraud Errors Basic Principles and Techniques. Classification of Audit. UNIT II Audit programme: Audit programme,
More informationCHAPTER 3 Audit Re-appointment of retiring auditor [Section 224(1)] Question 1 Answer Tenure of auditor:
CHAPTER 3 Audit Re-appointment of retiring auditor [Section 224(1)] Question 1 Ram & Company was appointed as auditor of ABC Ltd. at the Annual General Meeting held on 30th September, 2004. Can Ram & Co.
More informationFinancial Statements of Companies
2 Financial Statements of Companies BASIC CONCEPTS UNIT 1: PREPARATION OF FINANCIAL STATEMENTS While preparing the final accounts of a company the following should be kept in mind: Requirements of Schedule
More informationIPCC MAY 2015 QUESTION PAPER PAPER 1 ACCOUNTING
IPCC MAY 2015 QUESTION PAPER PAPER 1 ACCOUNTING Questions No. 1 is compulsory. Candidates are also required to answer any five questions from the remaining six questions. Working notes should form part
More informationSOLVED ANSWER ACCOUNTS PAPER-5 CA IPCC Nov. 09 (Collected by Manish Sharma, Kolkata) 1
SOLVED ANSWER ACCOUNTS PAPER-5 CA IPCC Nov. 09 (Collected by Manish Sharma, Kolkata) 1 Qn. 1. Answer the following questions : 10 x 2 = 20 (i) Goods worth 5,00,000 were destroyed due to flood in September,
More informationSwastik Land Developers Ltd. 82, Maker Chambers III, Nariman Point, Mumbai Tel. No /
Swastik Land Developers Ltd. 82, Maker Chambers III, Nariman Point, Mumbai 400 021. Tel. No. 22042554 / 22047164. DIRECTORS REPORT Your Directors are pleased to present the Fifth Annual Report and the
More informationPTP_Intermediate_Syllabus 2012_Jun2014_Set 1. Paper 5- Financial Accounting
Paper 5- Financial Accounting Whenever necessary, suitable assumptions should be made and indicate in answer by the candidates. Working Notes should form part of your answer Section A is compulsory and
More information1 Auditing and Assurance
Star Rating On the basis of Maximum marks from a chapter On the basis of Questions included every year from a chapter On the basis of Compulsory questions from a chapter Nil 1 Auditing and Assurance Standards
More information(AA31) FINANCIAL ACCOUNTING AND REPORTING
All Rights Reserved ASSOCIATION OF ACCOUNTING TECHNICIANS OF SRI LANKA AA3 EXAMINATION - JANUARY 2018 (AA31) FINANCIAL ACCOUNTING AND REPORTING Instructions to candidates (Please Read Carefully): (1) Time
More informationFinancial Accounting. RollNo... Time allowed : 3 hours Maximum marks : 100. Total number of questions : 8 Total number of printed pages : 7
Financial Accounting : 1 : RollNo... Time allowed : 3 hours Maximum marks : 100 Total number of questions : 8 Total number of printed pages : 7 NOTE : Answer SIX questions including Question No.1 which
More informationAnswer to MTP_ Intermediate _Syllabus 2012_Dec2016_Set 2 Paper 12- Company Accounts & Audit
Paper 12- Company Accounts & Audit Academics Department, The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 1 Paper 12- Company Accounts & Audit Full Marks : 100
More informationPAPER 19: COST AND MANAGEMENT AUDIT
PAPER 19: COST AND MANAGEMENT AUDIT Academics Department, The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 1 LEVEL C MTP_Final_Syllabus 2012_Dec2015_Set 1 The
More informationKBC. Nav RollNo... Marks. Answerthe followingquestions:
RollNo IPCC GROUP-II PAPER-5 ADVANCEDACCOUNTING Nav 2010 Total No of Questions - 7 Total No of Printed Pages - 8 Time Allowed - 3 Hours Maximum - 100 Answers to questions are to be given only in English
More informationACCOUNTANCY CLASS XII DESIGN OF THE QUESTION PAPER. Times : 3Hours Maximum Marks 80 S. NO. OBJECTIVES MARKS % OF MARKS. 1.
78 ACCOUNTANCY CLASS XII DESIGN OF THE QUESTION PAPER Times : 3Hours Maximum Marks 80 1. Weightage of Objectives S. NO. OBJECTIVES MARKS % OF MARKS 1. Knowledge 16 20% 2. Understanding 56 70% 3. Application
More informationAnswer to MTP_ Intermediate_Syllabus2012_Dec2017_Set 1 Paper 12- Company Accounts & Audit
Paper 12- Company Accounts & Audit Academics Department, The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 1 Paper 12- Company Accounts & Audit Full Marks: 100
More informationINSTITUTE OF AERONAUTICAL ENGINEERING (Autonomous) Dundigal, Hyderabad
INSTITUTE OF AERONAUTICAL ENGINEERING (Autonomous) Dundigal, Hyderabad - 500 043 MASTER OF BUSINESS ADMINISTRATION TUTORIAL QUESTION BANK Name : ACCOUNTING FOR MANAGEMENT Code : CMBB02 Class : I Semester
More informationMTP_Intermediate_Syllabus 2016_Dec 2017_Set 2 Paper 5- Financial Accounting
Paper 5- Financial Accounting Academics Department, The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 1 Paper 5- Financial Accounting Full Marks : 100 Time allowed:
More informationINTERNAL FINANCIAL CONTROL POLICY
INTERNAL FINANCIAL CONTROL POLICY The Board of Directors of Kilitch Drugs (India) Limited has adopted the following Internal Financial Control Policy. Section 134(5)(e) of the Companies Act, 2013 requires,
More informationDefinition of Auditing
Definition of Auditing ICAI, 2016 25-Aug-17 1 Definitions: (1) Auditing An audit is independent examination of financial information of any entity, whether profit oriented or not, and irrespective of its
More information(AA11) FINANCIAL ACCOUNTING BASICS
All Rights Reserved ASSOCIATION OF ACCOUNTING TECHNICIANS OF SRI LANKA AA1 EXAMINATION - JANUARY 2019 (AA11) FINANCIAL ACCOUNTING BASICS Instructions to candidates (Please Read Carefully): (1) Time allowed:
More informationTime allowed : 3 hours Maximum marks : 100. Total number of questions : 6 Total number of printed pages : 12
Roll No.... : 1 : Time allowed : 3 hours Maximum marks : 100 Total number of questions : 6 Total number of printed pages : 12 NOTE : 1. Answer ALL Questions. 2. All working notes shall be shown distinctly.
More informationMOCK TEST PAPER INTERMEDIATE (IPC) GROUP II PAPER 6: AUDITING AND ASSURANCE Question No. 1 is compulsory. Attempt any five questions from the Rest.
MOCK TEST PAPER INTERMEDIATE (IPC) GROUP II PAPER 6: AUDITING AND ASSURANCE Question No. 1 is compulsory. Attempt any five questions from the Rest. Test Series: March, 2018 Time Allowed 3 Hours Maximum
More informationSuggested Answer_Syll2008_Dec2014_Paper_5 INTERMEDIATE EXAMINATION
INTERMEDIATE EXAMINATION GROUP I (SYLLABUS 2008) SUGGESTED ANSWERS TO QUESTIONS DECEMBER 2014 Paper- 5 : FINANCIAL ACCOUNTING Time Allowed : 3 Hours Full Marks : 100 The figures in the margin on the right
More informationPAPER 5 : ADVANCED ACCOUNTING
PAPER 5 : ADVANCED ACCOUNTING Question No.1 is compulsory. Candidates are also required to answer any five questions from the remaining six questions. Working notes should form part of the respective answers.
More informationQuestion No: 1 ( Marks: 1 ) - Please choose one Wages outstanding given in the trial balance will be treated as a (an):
Question No: 1 ( Marks: 1 ) - Please choose one Wages outstanding given in the trial balance will be treated as a (an): Asset Liability Revenue Deferred expense Question No: 2 ( Marks: 1 ) - Please choose
More informationPractical Aspects of Audit under Income Tax Act and Companies Act (Including CARO 2016 & IFC / ICFR)
Practical Aspects of Audit under Income Tax Act and Companies Act (Including CARO 2016 & IFC / ICFR) LUNAWAT & CO. Chartered Accountants 20 th February 2016, North Campus CA. PRAMOD JAIN FCA, FCS, FCMA,
More informationADV. ACCOUNTS MAY QUESTION PAPER
TOPPER S INSTITUTE [IPC-GROUP - II] Adv. Accounts 1 ADV. ACCOUNTS MAY 2017 - QUESTION PAPER Q.1 Answer the following Questions: [4 5 = 20 Marks] Fast Ltd. acquired a patent at a cost of ` 40,00,000 for
More informationINTERNAL FINANCIAL CONTROL POLICY POKARNA LIMITED
INTERNAL FINANCIAL CONTROL POLICY POKARNA LIMITED INTRODUCTION Section 134 (5) (e) of the Companies Act, 2013 requires, the Board of every Listed Company to lay down Internal Financial Controls to be followed
More informationSEGMENT- I: INFORMATION AND PARTICULARS IN RESPECT OF BALANCE SHEET. From (DD/MM/YYYY) To (DD/MM/YYYY)
FORM NO. AOC-4 [Pursuant to section 137 of the Companies Act, 2013 and sub-rule (1) of Rule 12 of Companies (Accounts) Rules, 2014] Form for filing financial statement and other documents with the Registrar
More informationPTP_Intermediate_Syllabus 2012_Jun2015_Set 1 Paper 12: Company Accounts and Audit
Paper 12: Company Accounts and Audit Academics Department, The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 1 LEVEL B The following table lists the learning objectives
More information