Auditing Questions

Question Bank:

  1. Define Auditing and explain the difference between Book-keeping, Accountancy and  Auditing.
  2. “An Auditor is a watch dog not a blood hound”. Discuss.
  3. Distinguish between Investigation and Auditing.
  4. Explain the Objectives of Auditing.
  5. Explain the different types of Audit?
  6. What is Audit Programme, What are its advantages and Disadvantages?
  7. Write short notes on:-
    1. Routine Checking
    2. Test Checking
    3. Audit Committee
    4. Audit Note Book
  8. What are the working papers of an auditor? Who is the owner of these papers?
  9. Explain the term Internal Control?
  10. Explain the difference between Internal Check and Internal Audit?
  11. “Vouching is the back bone of Auditing”.  Discuss.
  12. What do you understand by Verification? Distinguish clearly between verification and valuation and explain the    objectives of verification?
  13. What is a qualified report and what is a clean report?
  14. What are the qualification, restrictions, rights and duties of an Auditor?
  15. Discuss the Liabilities of an Auditor?
  16. What are AAS and explain the various AAS?

8 thoughts on “Auditing Questions

    1. Actually Audit working papers are divided into 2 categories
      1. Current Files: This contains the data relating to the current year only like Audit plan, Financial Statements, Trail Balance, Audit Programme etc…
      2. Permanent Files: Contains Historical data, Contracts, Engagement letter, Fiancial Ratios etc (Information for long time that is)

      Where as the Audit Note book is a diary in which the auditor scribbles the findings of the company, here he uses the working papers from which he derives the information, so technically the audit note book is very crucial piece of document which the auditor keeps with himself, the audit note book eventually will decide on the efficacy of the audit done by the auditor.

      (Hope that answers your question) but why the way a very good question indeed, many thanks for this. keep the good work going…:)

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