Auditing Important Questions for May 2015 Exams (IPCC)

1. Qualifications and Disqualifications of an auditor as per COMPANIES ACT 2013.

2. Types of Audit Report/ Audit Opinion.

3. Duties relating to fraud in case of company auditor as per companies act 2013

4. SA 200, 240.

5. SA 620

6. Vouching and verification – 16m (refer class notes)

7. Basic principles governing an audit.

8. SA 580

9. Appointment of first auditors.

10. Issue of bonus shares

11. Matters to be verified in the audit of dividend.

12. Provisions relating to Branch Audit.

13. Types of Reserves AND Objects of creating each.

14. Discuss about cost Audit.

15. SA 320

16. Design and Special Characteristics of EDP Systems.

17. CAAT requirement in EDP audit.

18. ‘Audit Trail in a computerized accounting environment’.

19. AS 1, 4, 5, 9

20. Controls in an EDP environment.

21. SA 700, 705

22. Audit of commercial accounts.

23. Audit of Stores and stocks.

24. Approaches to auditing in a computerized environment.

25. Letter of weakness.

26. Audit of Hotels

27. Audit of Charitable institutions.

28. Audit of Incomplete records.

29. Audit of Cinema Theater.

30. Methods to obtain Audit Evidence.

31. SA 230

32. Appointment of second & subsequent auditors

33. Revenue expenditure.

34. SA 570

35. Removal of auditor before expiry of his term of office.

36. Concept of “True and Fair”

37. Duties of C&AG.

38. Procedural aspects relating to leasing transactions.

39. Audit of Government expenditure.

40. Compliance procedures.

41. Duties of the auditor as per companies act 2013.

42. Audit of hire purchase transactions.

43. Inherent limitations of ICS

44. Audit of Sweat Equity shares

45. Audit of Buy back of shares

46. Audit of forfeiture of shares

47. SA 505

48. SA 501

49. SA 450

50. Methods to evaluate ICS

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