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Thursday, 22 May 2014

IPCC AUDIT IMPORTANT TOPICS COVERING 50-60% EXPECTED PAPER


My Dear IPCC students,
Hope You are studying well....as
Promised to you all i am posting
some important questions in
Auditing. In the November 13
attempt almost the entire
Auditing paper was asked from
important questions i had
posted, so i expect that even this
time atleast 50% to 60% of the
paper will be from these
questions only. I also request
everyone to read the Practice
manual markings i had given.
Here are the important
questions:
1SA 700, 705,706
2 Appointment of auditors.
3 Limitations of Auditing
4 What do you understand by
Audit around the computer and
audit through the Computer.
5 Audit of Government
expenditure
6 SA 300,500
6 SA 560The events occurring
after B/s date.
7 Surprise check and Examination
in Depth
8Audit Trail in a computerized
accounting environment
9Distinguish between: Audit and
Investigation
10State areas in which different
accounting policies may be
encountered
11State various components of
Audit Risk.
12 Appointment of auditor in
place of retiring auditor
13Removal of auditor before expiry
of his term of office
14Fundamental Accounting
Assumptions
15 Special Audit u/s 233A v/s cost
Auditu/s 233B.
16 Audit of Club. Write about
local bodies. Audit of Hotels.
17 Special Characteristics of EDP
Systems
18 CAAT requirement in EDP
audit
19Vouching and verification Points
Given is Class
20 SA 580
21 Qualifications and
Disqualifications of an auditor
22 SA 230
23 AS 1, 6, 10,12,18,26,29
24 Branch Audit.
25 Give various factors which
result in increase in gross profit
26 How will you vouch the
following: -
-Assets acquired on Hire Purchase
and Lease- Research and
Development Expenditure - Sale
proceeds of junk material -
Recovery of Bad Debts written off -
Goods sold on Approval basis
27 Cut Off procedures.
28 Advantages of Independent
audit
29Applicability and Non
Applicability of CAR0, 2003
30Audit of Sole Proprietor
Concern/Partnership Firm
31Appointment of auditor of
Government Company.
32 SA 299,320,550, 600, 620.
33Note on Dividend
34 Emphasis Of Matter Para /
Other Matter Para
35 When retiring auditor of
company cannot be reappointed.
36 Audit of hire purchase
transactions
37 Define Going Concern
Indicators
38 Factors affection mode of
Communication with TCWG
39 Verify the following : - Capital
Work in Progress - Advances given
to suppliers - Contingent
Liabilities - Leasehold Property -
Patents
40 Fraud v/s Error, Reserve v/s
Provision