Hi friends, find enclosed the audit importance for November 2010 (PCC and IPCC) examinations.
Give more attention to the following importance without neglecting the remaining portion.
Try to Complete your paper.
All the Best for your exam.
with warm regards, Mukesh sir.
1. Explain in brief basic principles governing audit. (10 marks)
2. What are inherent limitations of audit?
3. Short note of any of the type of error or a practical case study on error & frauds.
4. Auditor’s duty in case of change in accounting policies.
5. What are auditing working papers and why should they be carefully preserved by the auditor.
6. Explain inherent limitations of internal controls.
7. Quality control by CA firms.
8. Relationship between inherent risk, control risk & detection risk.
9. Practical case study on Depreciation, events occurring after the date of balance sheet
10. Ceilings on audit (practical calculations) (VVVimp)
11. Short note on SPECIAL AUDIT.
12. Buyback of shares (VVVimp)
13. Issue of shares at discount.
14. Director’s responsibility statement
15. Audit of NGO.
16. Power of CAG
17. Distinguish between internal evidence & external evidence.
18. Short note on examination in Depth
19. Practical question of internal audit (conditions, CARO)
20. What are cutoff procedures?
21. Vouching of Intangible asset (any), Retirement benefit, advertisement.
22. Duty of auditor in case of other reports (SA 720)
23. Vouching of payment paid out of interest.
24. Advantage & disadvantage of Joint Audit.
25. One question from EDP audit.
26. Do Company audit 1 properly. Very useful for objective questions also.
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