ACC301 Final Term Current Paper (Feb 2011)

ACC301 Final Term Current Paper (Feb 2011)

currten parper 64 total Question tha 
jin main sa 54 mcqs tha or zida tar 31 to 40 lects main sa ay tha

Casual Vacancy
a) Any casual vacancy shall be filled by directors. [Sec 252(4)].

Casual
Vacancy
Within 30 days
of the vacancy

Following aspects of assets must be verified:
1. Cost
2. Authorization
3. Value
4. Existence
5. Beneficial Ownership
6. Presentation in the accounts

or sub to tauf tha n lengthy b like
scop of audit on
solo paro
partnetship
company 

if u r an auditor of a bank wht pross u may take for auditing on online trans etc

Suppose you have been appointed as the auditor of a company and have started examining the entity by taking initial interviews of the concerned personnel. During this course, one of the person from management has asked you the following information:

1. What are the matters about which an auditor may disagree with the management? 

2. What should an auditor do if such disagreements are material? 

Give your answers in brief

A company has hired auditors at the year end. Auditors used audit sampling techniques which made them enable to gather audit evidence efficiently. State the objectives auditors might have defined first to achieve by using sampling techniques and also briefly explain further steps the auditors might undertake to complete the sampling process.

expainl th Verification Methods:

Cut-off. Verify cut-off. For example a trade creditor should hot be included unless the goods were
acquired before the year end.