ECO-12 EM 2023-24 SOLVED ASSIGNMENT

Description

TUTOR MARKED
ASSIGNMENT
COURSE CODE : ECO-12
COURSE TITLE : ELEMENTS OF AUDITING
ASSIGNMENT CODE : ECO-12/TMA/2023-24
COVERAGE : ALL BLOCKS
Maximum Marks: 100
Attempt all the questions:
1. Define the term auditing. Differentiate between Auditing and
Investigation. What is continuous audit? Discuss its merits and
demerits.
(20)
2. Point out the difference between ‘Verification’ and ‘Valuation’ of
assets. Discuss the objectives of verification of assets.
(20)
3. Discuss the position of an auditor in a company under the provisions
of the Companies Act. State the qualifications and disqualifications of
the auditor for a company.
(20)
4. State the matters upon which the auditors must form an opinion while
preparing their report as laid down in the Companies Act. What do you
understand by the concept of ‘true and fair’ in an auditor’s report?
(20)
5. Write short notes on the following:
a) Cost audit
b) Redemption of preference shares
c) Vouching
d) Internal check