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Commerce and Accountancy-2014: Answer Writing Challenge – 7


22 September 2014

Paper 1 : Topic : Auditing

Write short notes on the following three questions in about 150 words each :

1) Audit procedures to detect cash defalcations

2) How should an auditor evaluate the cost of gathering evidences for the purpose of audit ?

3) “An auditor expresses an opinion on a company’s financial statements taken as a whole, not on individual items on the statements.” Explain the above statement with examples.

4) “To arrive at a comprehensive opinion, the auditor reviews evidence that may be classified into three major groups.” What are these groups and how do you relate the components of the groups to the purposes of the audit ?  (250 words, 2012 Mains)