How was CA Final Audit Old Nov 2019 paper

MCQ - Nov 19 CA Final Old syllabus. Q. No. 1 to 10 carries 2 marks each. Q. No. 11 to 20 carries 1 mark each.

1. What is not an objective of SA 299 (Ans: To coordinate between principal auditor and component auditor)

2. Who appoints the auditor of a public insurance company and private insurance company 

3. NPA date for a credit facility renewed by bank for temporary period 

4. Cooling off period for auditor rotation 

5. Internal audit applicability (Question based on =, <, >, as on BS date, at any point of time during the year)

6. What need not be reported in a EOM paragraph (Ans: Reference to BOD report in EOM paragraph of auditor report)

7. Current / non current, financial / non financial classification as per Schedule III for FD with maturity more than 12 months 

8. What is a not a contingent liability for a bank (Ans: Liability for fraud)

9. CARO non applicability (Question based on =, <, >, as on BS date, at any point of time during the year)

10. Non applicability of cost audit (Options (a) whose revenue from exports > 75%   (b) whose revenue from exports, in foreign exchange, > 75%

11. Valuation rate for exports for GST audit (Options - CBEC rate, RBI rate, rate on advance recipe date, rate on invoice date) 

12. Exclusions in ceiling of no. of audits for an auditor 

13. Hull insurance is related to?  (Ans: Marine insurance) 

14. What is not a component of internal control (Ans: Access control) 

15. Peer review frequency for audit firms 

16. Meaning of initial audit engagement 

17. Guarantee given by relative of auditor. Whether auditor appointment is valid 

18. SA 720 does not deal with? (Ans: FS and Audit report)

19. When KAM is not required to be reported?

20. When/who is not required to file GSTR9C?

Cost audit ka question khalath tha. ... i mean the options given were wrong. What is icai gonna do about it?? And it holds 2 marks. 2 marks are very crucial when it comes to auditing