AUDITING 2013 Guess Paper IMPORTANT QUESTIONS Punjab University
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Follow are important question for upcoming paper of auditing on 24 june 2013. don't take them light major part of your paper is given below.

1. What do you understand by Auditing? How does Auditing differ from Accountancy?

2. “An Auditor is a watch-dog not a bloodhound.” Explain this statement.

3. Define vouching and explain its importance.

4. Distinguish between internal check and internal audit. Point out the auditor’s duty regarding internal check.

5. What is meant by the term verification? Give the objects and importance of verification.

6. What is secret reserve? How is it created? Explain the duties of an auditor in this respect.

7. Discuss in detail the liabilities of a company auditor.

8. What is Statutory Report? How would you audit the same?

9. How would you conduct the audit of a banking company?

10. Write short notes on any two of the following :
(a)Qualities of a successful auditor
(d)Audit programme.

Also see them
1) Define auditing and describe its objectives.
2) Define investigation and distinguish it with auditing.
3) Describe the rights and duties of an auditor.
4) What are various types of audit?
5) What are audit work papers? What are their purposes? What are the usual contents
of audit work papers?
6) Define audit techniques, name them and explain any five of them.
7) What is meant by evidence in auditing? Name the various types of audit evidence.
8) Write a detailed note on audit program.
9) Distinguish between financial audit and cost audit.
10)What points should be considered while auditing the annual accounts of a hotel &
restaurant, Banks, Doctors, Educational institutions, charitable institutions.
11)What are divisible profits? What should be the guiding principles in determining the
divisible profits?
12) Explain the importance of an accurate valuation of inventories and list steps for the
verification of inventories.
13)Define fraud and explain types of fraud.
14)Write detailed notes on internal control, internal audit and cost audit.
15)Audit report (qualified and unqualified)
16) Income tax short notes:
A. Total income
B. Income year
C. Sales tax
D. Income tax authorities
E. Powers of income tax officers
F. Tax payers
G. Central board of revenue (cbr)
H. Registered firm
I. Persons
J. Assessment year
K. Appellate tribunal
L. Assessee
M. Casual income
N. Self assessment scheme