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PPA Important Question Final

This document contains important questions from 5 units of the subject "Principles and Practice of Auditing" for a semester exam. It includes questions about definitions of key auditing terms, objectives of auditing, risk assessment, internal controls, verification of assets and liabilities, company audits, audit reports, and professional ethics. The questions cover topics such as the definition of auditing, audit evidence, audit risk, internal controls, the audit process, auditor duties and liabilities, types of audit reports, and the role of ethics in the profession.

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prashanth jha
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4K views2 pages

PPA Important Question Final

This document contains important questions from 5 units of the subject "Principles and Practice of Auditing" for a semester exam. It includes questions about definitions of key auditing terms, objectives of auditing, risk assessment, internal controls, verification of assets and liabilities, company audits, audit reports, and professional ethics. The questions cover topics such as the definition of auditing, audit evidence, audit risk, internal controls, the audit process, auditor duties and liabilities, types of audit reports, and the role of ethics in the profession.

Uploaded by

prashanth jha
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
  • Unit-1 Introduction to Auditing: Covers basic auditing concepts, principles of auditing, and outlines the nature and objectives of an audit.
  • Unit-2 Auditing Concepts and Engagement: Details the relationship of auditing with other disciplines and discusses professional ethics in audit engagement.
  • Unit-4 Company Audit and Audit of other Entities: Describes the roles and duties of a company auditor and the audit process for various entities such as companies and NGOs.
  • Unit-5 Audit and Ethics: Discusses ethical considerations in auditing, focusing on audit reports and the audit process's significance.

Prepared by Sanjith J

More details contact 8217283057


According to bcu University
B.COM FIFTH SEMESTER
PRINCIPAL AND PRACTICE OF AUDITING
IMPORTANT QUESTIONS FOR SEMESTER END EXAMINATION
Unit-1 Introduction to Auditing.
Section-A
1. What is Auditing?
2. Define Auditing.
3. What is Audit Working Paper
4. What is Audit Programme
5. What is Audit planning?
6. Define Aduit Engagement.
7. What you mean by Audit Documentation
8. What is Audit Evidence?
9. What is Written Representation?
10. What is Audit Note Book?
Section-B
1. Briefly explain the objectives of auditing.
2. What are the merits and demerits of auditing.
3. Write a note Audit working paper.
4. Distinguish between Audit planning and programming
Section-C
1. Write a note on relationship of audit with other disciplines.
2. Preparation before commencement of a new audit.
3. Explain the different types of Auditing.
Unit-2 Risk assessment and Internal Control
Section-A
1. What is Risk assessment in Auditing?
2. Define Audit Risk.
3. State any two benefits of risk assessment in auditing.
4. What is Internal Control?
5. State any two objectives of Auditing.
6. Define Internal Check.
7. State any two limitations of Internal Check.
8. What is Internal Auditing?
Section-B
1. Briefly explain the process of Assessment of risk in Auditing.
2. Briefly explain the benefits of risk assessment.
3. Briefly explain thew objectives of internal control.
4. Distinguish between internal control and internal check.
Section-C
1. Explain the importance of risk assessment in auditing.
2. Explain the internal check regards to:
a) Payment of Wages
b) Cash Sales
c) Purchases
3. Write the advantages and disadvantages of internal check.
Unit-3 Verification and Valuation of Assets and Liabilities
Section-A
1. Define Verification of assets and liabilities.
2. Define Valuation of Assets and Liabilities.
Section C
1. Explain the verification and valuation of:
a) Land And building
b) Plant and Machinery
c) Goodwill
d) Investment
e) Contingent liabilities
Unit-4 Company Audit and Audit of other Entities
Section-A
1. Who is a Company Auditor?
2. Who is first auditor?
Section-B
1. Briefly explain the professional qualities of a company auditor.
2. Explain the rights of an auditor
Section-C
1. Explain the Duties & liabilities of a company auditor
2. Explain the auditor procedure for:
a) NGOs
b) Local Bodies
c) Cooperative Societies
d) Clubs
e) Banks
3. Explain the qualification and power of an auditor
4. Explain the appointment of auditor.
Unit-5 Audit Report and Professional Ethics
Section-A
1. What is Audit Report?
2. State the two types of audit report
3. What is Professional misconduct?
4. What is professional ethics?
Section-B
1. Briefly the element of audit report.
2. Write a note on clean report.
Section-C
1. What factors might lead to a qualified opinion in an audit report?
2. Explain the role of professional accountants in business.

Prepared by Sanjith J More details contact 8217283057 According to bcu University B.COM FIFTH SEMESTER PRINCIPAL AND PRACTICE
a) Land And building b) Plant and Machinery c) Goodwill d) Investment e) Contingent liabilities Unit-4 Company Audit and Audi

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