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Principle of Auditing Important Question

This document contains a set of questions related to principles of auditing. It includes 22 questions across two sets that cover topics such as defining audit and its objectives, the differences between accounting and auditing, the essential qualities of an auditor, types of audits (continuous, interim, final), audit programs, internal controls, the legal requirements for auditor appointment and remuneration, an auditor's duties and bailment, rights and powers of an auditor, auditor's reports for different purposes, points to consider when auditing different types of companies, the definitions and objectives of investigation, vouching techniques, and verification techniques. The questions are intended to help students gain high marks in auditing examinations from Punjab University.

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3K views2 pages

Principle of Auditing Important Question

This document contains a set of questions related to principles of auditing. It includes 22 questions across two sets that cover topics such as defining audit and its objectives, the differences between accounting and auditing, the essential qualities of an auditor, types of audits (continuous, interim, final), audit programs, internal controls, the legal requirements for auditor appointment and remuneration, an auditor's duties and bailment, rights and powers of an auditor, auditor's reports for different purposes, points to consider when auditing different types of companies, the definitions and objectives of investigation, vouching techniques, and verification techniques. The questions are intended to help students gain high marks in auditing examinations from Punjab University.

Uploaded by

Umar Zahid
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Punjab College of Commerce Islamabad Campus

Important Questions Principle of Auditing

Q No 01.Define Audit and what are the objects of Audit?

Q No 02 Define Audit. What are the Advantages of Audit?

Q No 03What is the difference between Accounting and Auditing?

Q No 04What are the essentials Qualities of an Auditor?

Q No 05Define Continuous Audit and also write its Advantages and Dis-Advantages?

Q No 06Define Interim Audit. What are its Advantages and Dis-Advantages?

Q No 07Define Final Audit with its Advantages and Dis-Advantages.

Q No 08 Define Audit Program. Explain its Advantages and Dis-Advantages.

Q No 09Suggest a Suitable system of Internal Control over

(a)_Purchase Or stock or stock Dealings


(b)_Sales Dealings Or Debtors
(c)_Cash Dealings
(d)_Cash Sales

Q No 10What are the legal requirements about appointment, approval and remuneration of
Audit?

Q No 11What are the points to be kept in mind for the Auditor before commencing a new
Audit?

Set 2 (Important Questions of Principles of Auditing Punjab University to Gain A+)

Q No 12 What is meant by Auditors Bailment? Explain the Bailment of the Auditor with
reference to legal rules regarding:-

(a)_ Negligence
(b)_ Maintenance
(c)_Criminal
(d)_Liable
(e)_Third Party

Q No 02 What are the rights, powers of an Auditor?


Q No 03 What are the Duties of an Auditor

Q No 04 What do you mean by Auditors report? What steps should be taken by an Auditor for
the purpose of Qualified and Un Qualified.

Q No 05 What steps should be taken by an Auditor for the purpose of Statutory Report?

Q No 06 What steps should be taken by an auditor for the purpose of prospectus Report?

Q No 07 What special points should be taken into consideration by an Auditor while Auditing
the Accounts of:-

(a)_Books
(b)_Insurance Company
(c)_Textile Company
(d)_Sugar Company
(e)_Hotel
(f)_Newspaper Company

Q No 08 What is Investigation? Explain its Objectives.

Q No 09 What is Investigation? Explain its classes

Q No 10 Explain the Difference of Auditing and Accounting.

Q No 11 Define the vouching. Explain the Various Techniques/Principles of Vouching.

Q No 12 Define Verification? Explain various techniques of Verification.

Questions to Gain A+ in the Examinations of Punjab University InshAllah


Guess Papers will be introduced soon.

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