Global Commerce Academy

Al-najf Colony, Ghosia Bazaar, Dhudiwala, Faisalabad Prof. Muhammad Nawaz (M.A Economics) Sir Khuram Shehzad (MBA, ACMA) 0300-7947703 0300-76311883

Auditing

BC-405

1. Describe the benefits of getting the account audited to the business itself and public at large. 2. Define auditing. Also explain the difference between accounting and auditing. 3. What is meant by FINAL AUDIT? Explain its features, merits and demerits. 4. Define interim audit. Discuss its merits and demerits. 5. What is meant by internal audit? How does it differ from external audit? 6. Explain the basic principles of internal control suitable for a manufacturing business. 7. Define Vouching. How would you vouch the following: a)Purchase of stock b)Sales commission paid. 8. Briefly explain the procedure to be followed for appointment of an auditor in a Public Ltd. Company. 9. Describe the special points to be kept in mind by an auditor during the audit of a taxtile mill.. 10. Define Investigation. How does it differ from Audit? 11. Explain the necessary information that the auditor must collect before commencing a new audit. 12. Briefly discuss the rights and duties of an auditor. 13. Under what circumstances and audit report may become qualified. Give specimen of such report. 14. Explain the special points to be kept in mind during the audit of an insurance Company. 15. Define verifications and elaborate its techniques. 16. Explainthe basic principles of internal control to be followed in a manufacturing business . 17. Briefly explain the qualifications and disqualifications of an auditor of a public Ltd .Co 18. What is meant by unqualified report? Give a specimen of such report after completing the annual audit of a public Ltd. Co. 19. Explain the special points to be kept in mind during the audit of a Bank.

Ahmad Nawaz

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