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Batch (6) Specialization Accounting Final Semester (7) Examination Auditing

This document appears to be an exam for an auditing course, containing 4 questions. Question 1 asks the student to draft a formal letter to a production director outlining necessary controls over stock within an organization. Question 2 asks the student to identify the 4 main capacities of internal audit functions and how a statutory auditor assesses the quality and effectiveness of internal audit. Question 3 has two parts, asking about the meaning and typical contents of a "permanent file" for audit working papers, and the meaning of "internal check". Question 4 asks about the major functions of audit working papers.

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39 views1 page

Batch (6) Specialization Accounting Final Semester (7) Examination Auditing

This document appears to be an exam for an auditing course, containing 4 questions. Question 1 asks the student to draft a formal letter to a production director outlining necessary controls over stock within an organization. Question 2 asks the student to identify the 4 main capacities of internal audit functions and how a statutory auditor assesses the quality and effectiveness of internal audit. Question 3 has two parts, asking about the meaning and typical contents of a "permanent file" for audit working papers, and the meaning of "internal check". Question 4 asks about the major functions of audit working papers.

Uploaded by

aya ahmed
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Mon.

23/01/2012 Time Allowed: Three Hours

Batch (6)
Specialization Accounting
Final Semester (7) Examination

Auditing (1)

Attempt All Questions:-

Question One:-
A client of your firm is concerned that there is no enough control over stock
within his organization. He states that they form a high proportion of the assets
within the company’s balance sheet and requires you to prepare a formal letter
to the production director outlining the controls that are necessary in this area.

Question Two:-
The internal audit functions can be classified into four main capacities,
determine these capacities and show how the statutory auditor assesses the
quality and effectiveness of the internal audit in practice.

Question Three:-
a. Explain the meaning of the term “permanent file “as used in connection
with audit working papers. What kinds of information are usually
included in the permanent file?
b. What is meant by the term “internal check?”

Question Four:
What are the major functions of audit working papers?

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