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09901366442 – 09902787224
AUDITING
Q1) H.W.P. Private Ltd. Is
having only two members H and W. During the audit of accounts for the
year ended 31st March 2000,
you as a auditor find that :
a) H, who is incharge of
purchases has introduced fictitious purchase bills of Rs 50 lakhs.
b) W, who is incharge of
sales has sold goods worth Rs 1 crore without bringing the same in the
books of accounts. You
raise the matter with H and W in their capacity as directors. They
contest that as this is a
position known to them and within their own fold, you should not report
the same under the
Company's Act 1956. Discuss whether the above arguments are acceptable
under the Company's Act
1956 for non-reporting?
Q2) As an auditor, how
would you react to the following situation? The company produced
photocopies of fixed
deposit receipts as the original receipts were kept in the iron safe of the
director finance who was
presently out of the country on company business?
Q3) ABC Private Limited is
engaged in the wholesale business of buying and selling silk sarees.
The accounts are maintained
under the Companies Act from 1st October to 30th September each
year. The Chief Accountant
of the company is requesting the tax auditor to conduct tax audit
U/S 44 AB of the I. T. Act
for the period for which accounts have been maintained under the
Company's Act. As the tax
auditor of ABC Private Limited, how will you react to the Chief
Accountant request?
Q4) Comment : The Auditor
is responsible for failure to disclose the affairs of the company kept out
of books and concealed from
him.
Q5) Comment : Balance
confirmations from debtors/creditors can only be obtained for balances
standing in their accounts
at the year end?
Q6) Give your comments and
observations on the following many cheques have been received by
the auditor on the last day
of the year, but not yet deposted with the bank?
AUDIT MANAGEMENT
Q1) Focus of the auditor is
no longer on the routine audit but rendering value added services like
cost efficiency and
decision making. Critically examine the statement with particular emphasis
on the changing computer
environment?
Q2) How can the auditor be
useful in achieving the objectives of a Charitable Trust or Society and a
Co-operative Society? What
is the legal position under the relevant status?
Q3) It is the job of the
directors to prepare the accounts of a company, auditor only reports on it.
Elucidate and describe the
types of audit report?
Q4) The thrust area of an
auditor is “True and Fair” and not “True and Correct” Elucidate in the
light of statutory
provisions under the Companies Act 1956.
Q5) Discuss the three types
of audits, which although not mandatory under the Income Tax Act
1961, are get done by the
assessee to avail certain benefits under the act?
Q6) Examine the changes
brought about in the role of an auditor with the growth of information
technology and rapidly
changing computer environment?
Q7) The auditor only audits
the books of account, he does not guarantee them. Elucidate.
Q8) Tax auditor is a
Catalyst of Revenue Collection, function of the State on the one hand, and a
Consultant to the tax payer
on the other, discuss?
Q9) Who can be appointed as
an auditor of co-operative societies? What are the rights and duties of
auditor under Maharashtra
Co-operative Societies Act?
Q10) An auditor is
protected from unceremonial removal from office enabling him to maintain his
independence? Do you agree
with the statement? If so discuss the position of the auditor in
this regard in the light of
statutory provisions under the Companies Act 1956?
BUSINESS MANAGEMENT
Q1) What are the four basic
activities that comprise the management process? How are they
related to one another?
Q2) Describe the systems
perspective. Why is a business organization considered an open system.
Q3) Describe the formal and
informal dimensions of social responsibility? (10 Marks)
Q4) Describe the four basic
levels of international business activity? (10 Marks)
Q5) What are the four
fundamental purposes of goals in an organization. (10 Marks)
Q6) Explain the difference
between 3 common methods of group decision making – interesting groups,
Delphi groups and nominal
groups? (10 Marks)
Q7) Define creativity and
describe its causes? (10 Marks)
Q8) What are the steps in
the delegation process? (10 Marks)
ARAVIND 09901366442 – 09902787224
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