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Sunday, 18 May 2014

IMPORTANT AUDIT QUESTIONS FOR CA-IPCC STUDENTS

Question-1 Discuss the basic principles governing an audit.
Question-2 Discuss limitation of auditing.
Question-3 Discuss the areas in which different
accounting policies may be adopted.
Question-4 State briefly qualities of auditors.
Question-5 Short note on Independent audit and its
advantages.
Question-6 Discuss the concept of true & fair view.
Question-7 What are fundamental accounting assumptions
and their disclosure requirement?
Question-8 Write short note on Substantive procedure.
Question-9 Discuss the reliability of audit evidences.
Question-10 What are the specific assertions relating to
items appearing in financial statements?
Question-11 What are the audit techniques to obtain
audit evidences?
Question-12 Discuss analytical review procedure with
reference to SA.
Question-13 Write difference between Auditing &
Investigation.
Question-14 What do you mean by “Sufficient Appropriate
Audit Evidence”? State various factors that help the
auditor to ascertain as to what is sufficient appropriate
audit evidence.
Question-15 What are the benefits of audit planning?
Question-16 What are the advantages and disadvantages
of audit programme?
Question-17 Discuss examination in depth.
Question-18 Discuss Surprise check.
Question-19 Discuss Audit Risk.
Question- 20 Discuss Random Sampling
Question-21 What are the inherent limitations of internal
control?
Question-22 What are the General considerations in
framing a system of internal check?
Question-23 Discuss the concept of Internal audit.
Question-24 Discuss the concept of audit materiality.
Question-25 Write difference between Internal control
questionnaire and Internal control evaluation.
Question-26 Factors to be considered while establishing
overall audit strategy.
Question-27 Short note on Audit working paper and its
advantages.
Question-28 Content of permanent working file and
current working file.
Question-29 Difference between black box approach and
while box approach.
Question-30 Define audit trail.
Question-31 Internal control in CIS environment.
Question-32 How auditor is removed?
Question-33 Disclosure requirement u/s 224 (1A).
Question-34 Write rights of the auditor.
Question-35 Verify issue of share for consideration other
than cash.
Question-36 Verify Buy Back of shares.
Question-37 Share transfer audit.
Question-38 Verify issue of sweat equity shares.
Question-39 Verify issue of share at premium.
Question-40 Verify payment of interest out of capital
Question-41 Write note on expenditure audit.
Question-42 Special audits of Hotel, Hospital, Cinema,
Club, NGO, Educational institution, and Local bodies.
Question-43 What is CARO 2003, and what is it’s
applicability.
Question-44 How the first auditor of the Co is appointed?
Question-45 Appointment of auditor by passing SR.
Question-46What are reporting requirement as per
section 227 (3).
Question-47 Cut off procedure.
Question-48 Verify option on share capital
Question-49 Audit of Government receipts.
Question-50 Power of CG to appoint the auditor.

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