Audit Imp Q_ Bcom III Year_General & Computers
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The document outlines important questions related to auditing for B.Com III Year students at Osmania University, classified into essays and short questions across five units. Topics include the definitions and importance of auditing, internal and statutory audits, appointment and duties of auditors, as well as specific auditing techniques like vouching and auditing various types of organizations. Additionally, the document covers business report writing principles and characteristics of good audit reports.
Audit Imp Q_ Bcom III Year_General & Computers
- 1. B Com III Year (Comp & Gen) - Auditing Osmania University Important Questions Unit – I Essay Questions: 1. What do you mean by Auditing? Explain the objectives of Auditing. 2. What is Internal Audit? How does it differ from the statutory Audit? 3. What is Auditing? Explain its importance and limitations. 4. Explain Periodic audit and its advantages and disadvantages. 5. What are the disadvantages of Continuous audit? How do you overcome the disadvantages of Continuous audit? 6. What are the differences between Book – Keeping, Accountancy and Auditing? 7. What is Continuous audit? Sate its advantages. 8. What are the various types of audit based on ownership? Short Questions: 1. What is Auditing? 2. Cost Audit. 3. Various types of audit. 4. What is Continuous Audit? 5. Partnership Audit. 6. Limitations of Audit. 7. Interim Audit. 8. Distinguish between Cost Audit and Financial Audit. 9. Statutory Audit. 10. What is Government Audit? 11. Explain the importance of Continuous Audit. 12. What do you mean by Statutory Audit? 13. Distinguish between Cost Audit and Financial Audit.
- 2. Unit – II Essay Questions: 1. Write a note on appointment and remuneration of an auditor. 2. Explain the concepts of Audit Note Book. 3. Explain how an auditor of a company can be removed. 4. What is audit programme? Explain the procedure for preparation Audit Programme. 5. What are the Qualifications and Disqualifications of an auditor? 6. Sate the rights and duties of an auditor as per Companies Act 1956 or 2013. 7. What are the preliminaries should an auditor attend to while commencing a new audit. 8. Explain in detail the differences between internal check and internal audit. 9. What is audit programme? State its merits and demerits. Short Questions: 1. Liabilities of an auditor. 2. Audit Note Book. 3. Internal check 4. Qualities of auditor. 5. Routine Checking. 6. Features of Good audit Programme. 7. Internal Control 8. What do you understand by Audit Note Book? 9. Qualifications of an Auditor. 10. State the Disqualifications of an Auditor 11. Audit Work book
- 3. Unit – III Essay Questions: 1. What is vouching? Distinction between vouching and routine checking. 2. What are the special points to which the auditor must pay special attention in vouching the payments? 3. What is vouching? Explain its importance. 4. Explain the verification and valuation of various assets appearing in the balance sheet. 5. What is vouching? What are its objectives? 6. What do you understand by verification of assets? What is the duty of the auditor there to? And explain the objectives. 7. What is meant by routine checking? What are its objectives? 8. What is investigation? How does it differ from audit? 9. Explain the vouching of any seven cash transactions. 10. How do you verify and value assets and liabilities. 11. What is vouching? Explain the precautions to be taken by an auditor while vouching. Short Questions: 1. What is the meaning of Investigation? 2. What is audit report? 3. Book debts 4. What are the Objects of Vouching? 5. What do you understand by valuation of lease hold Property? 6. What do you understand by Vouching? 7. Audit of Fixed Assets.
- 4. Unit – IV Essay Questions: 1. How do you start an audit of an educational institution? 2. Explain the characteristics of a good audit report. 3. Explain the contents of an audit report. 4. Explain the points an auditor should consider while commencing the audit of a partnership. 5. How do you audit the accounts of “Cooperative Societies”? Discuss special points that arise in such audits. 6. What is “Audit Report”? Explain the duties of the auditor with regard to audit report. 7. How do you audit the accounts of Partnership Firms? Discuss special points that arise in such audits. 8. What are the primary steps that an auditor should take before starting the audit of a company? 9. How would you audit the accounts of charitable institutions? Discuss special points that arise in such audits. Short Questions: 1. Explain briefly about good characteristics of good audit report. 2. What is a business Letter? 3. Audit Report. 4. Explain the meaning of Fair Audit Report. 5. What do you understand by qualified Audit Report? Unit – V Essay Questions: 1. Explain the basic principles and structure of a business letter.
- 5. 2. Explain the structure of a business report. 3. Distinguish between routine report and special report. 4. Enumerate essential principles of Business letter. 5. What is” Report”? State the qualities or requirements of good report. 6. What is Business Letter? Describe the various parts of business letter. 7. What are the essentials of good business letter? Explain the structure of business report. 8. Briefly explain the various types of business reports. Short Questions: 1. State the functions of Reports. 2. What do you understand by Salutation? 3. Title page of report. 4. What are the Styles of Reports? 5. Qualified Report. 6. Essential Parts of Report. 7. Adverse Report. 8. What are the Features of Business Letter? 9. What do you understand by Special Report? 10. What do you understand by Routine Report? 11. Special Report