Posts
(Department of Commerce)
AUDITING (481)
CHECK LIST
SEMESTER: AUTUMN, 2010
This packet comprises following material:-
1. Text book (One)
2. Assignment No. 1 & 2
3. Assignment forms (One set)
4. Schedule for submitting the assignments and tutorial meetings
If you find anything missing in this packet, please contact at the address given below:
Director
Admission & Mailing
Allama Iqbal Open University
H-8, Islamabad
051-9057611-12
S.M Aamir Shah
Course Coordinator
9057154
(Department of Commerce)
1. PLAGIARISM OR HIRING OF GHOST WRITER(S) FOR SOLVING THE ASSIGNMENT(S) WILL DEBAR THE STUDENT FROM AWARD OF DEGREE/CERTIFICATE, IF FOUND AT ANY STAGE.
2. SUBMITTING ASSIGNMENTS BORROWED OR STOLEN FROM OTHER(S) AS ONE’S OWN WILL BE PENALIZED AS DEFINED IN “AIOU PLAGIARISM POLICY”.
Course: Auditing (481) Semester: Autumn, 2010
Level: B.A/B.Com Total Marks: 100
ASSIGNMENT No. 1
(Units 1–4)
Q.1 You are required to go through the International Auditing Standard No. 1 and briefly describe the criteria for determining scope of the audit of a company in the light of IAS-1. (20)
Q.2 Enumerate the advantages of Audit with regard to business, public and investors. (20)
Q.3 Audit program is one of the components of audit planning; describe what factors it contains? (20)
Q.4 a) Differentiate internal control, internal check and internal audit. (10)
b) How the internal control system is reviewed by an auditor. (10)
Q.5 Describe the functions and responsibilities of internal auditor. (20)
ASSIGNMENT No. 2
(Units 5–9)
Q.1 Highlight importance of vouching. Suppose you have transactions relating to purchase, sale, cash received and paid, what documents would serve you as vouchers. (20)
Q.2 Describe techniques used in the process of verification; explain with examples how assets are verified? (20)
Q.3 Explain various steps an auditor takes to verify the share capital, reserves and other liabilities? (20)
Q.4 Describe the procedure of Resolutions to the appointment and removal of auditors with reference to the companies’ ordinance 1984. (20)
Q.5 Write notes on the following: (20)
· Remuneration of an auditor
· Types of Audit Report