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11111111111I11111111111111111111111 13505V Semester B.Com.N. Examination, Nov.lDec. 2014

(Revised New Scheme)COMMERCE

Paper - 5.5 : Auditing

Time: 3 Hours Max. Marks: 80

Instruction: Answer should be written completely either in English or inKannada.

SECTION-A

Answer any ten of the following sub-questions. Each sub-question carries2 marks : (10x2=20)

1. a) What is auditing?

b) What is interim audit?

c) What is meant by valuation?

d) State the essential aspects of internal check.

e) What is clean report ?

f) Give the meaning of audit working papers.

g) What is audit notebook?

h) State two constraints of computerised audit.

i) What is routine checking?

j) What is statutory audit?

k) Define internal control.

I) State two general principles of verification.

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SECTION-B

Answer any three questions. Each question carries 5 marks:

2. State the merits and demerits of annual audit.

3. How do you vouch the receipts from debtors?

4. Briefly explain the uses of computerised audit.

5. Explain in brief the advantages of auditing.

6. Distinguish between internal audit and external audit.

(3x5=15)

P.T.O.

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SECTION-C

Answer any three questions. Each question carries 15 marks: (3x15=45)

7. Briefly explain the steps to be taken by an auditor before commencing new audit.

8. Explain the rights, duties and liabilities of a company auditor.

9. Explain the audit programme of co-operative society.

10. Suggest a suitable system of internal check regarding payment of wages andcash sales.

11. How do you verify and value the following?

i) Land and Buildings

ii) Trade marks

iii) Creditors

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