CA-INTERMEDIATE EIS-SM & AUDIT · Audit in CIS environment- I have divided this topic in...

Q7. What are the preconditions for an audit of financial statements?

Q8. Mention some principle content of the engagement letter?

continuance of client’s relationship?

Q10. What will be involved in the evaluation by engagement quality control reviewer?

Q9. What are the information which may assist the auditor in determining acceptance and

Q16. What are the additional number of purposes which are served by audit documentation?

Q3. What are the basic principles of auditing?

Q4. What are the threats to independence?

Q2. Explain the concept of true and fair view.

Q1. What are the advantages of audit of financial statements?

Q11. What considerations should be covered under review by the engagement partner?

Q13. What should be covered by the auditor in the developing of audit programme? What are its

Q5. Write short note on professional scepticism.

Q14. What factors should be considered in determining materiality?

Q12. How an audit strategy is established by the auditor, what are its advantages?

engagement?Q6. What are the circumstances when a new engagement letter is required in recurring audit

Q15. What are the factors that may affect the identification of an appropriate benchmark to apply the concept of materiality for the financial statements as a whole?

advantages and disadvantages?

Q17. What are the factors which may effect the form, content and extent of audit documentation?

Q19. Discuss reliability on audit evidences.

Q20. What are the auditor’s responsibilities for using the work of management’s expert?

Q18. What the techniques for obtaining sufficient and appropriate audit evidence?

Q21. Define significant risk.

Q22. As an auditor how will you obtain an understanding of entity and its environment?

Q23. What are the assertions in examination of transaction and events, account balances and presentation and disclosure of financial statements?

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AUDIT : List Of Important Questions For November 2019 Attempt Compiled By: CA Nitin Gupta

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EIS-SM & AUDIT CA-INTERMEDIATE


Q25. As an auditor how will you obtain sufficient and appropriate audit evidence for existence and condition of inventory? (SA 501)

Q26. Discuss external confirmation procedures? (SA 505)

Q27. What are the auditor’s responsibilities if management does not allow the auditor to conduct external confirmation?

Q24. Define test of controls and substantive audit procedures.

Q41. Define fraud risk factors.

automated environment. (Only for new syllabus)

Q45. Discuss impact of IT related risk on substantive audit, controls and reporting. (Only for new

Q33. Define audit risk and its component.

Q40. Discuss internal audit requirement as per section 138 of the companies Act, 2013

Q29. What are the records and documents from where auditor may obtain information about the related party relationships and related party transactions? (SA 550)

Q32. What are the events or conditions which may create doubt on the entity’s ability to continue as

Q38. What are the tools to review internal control?

balances? (SA 510)

Q39. What are the objectives and functions of internal audit functions?

Q34. What are the inherent limitation of internal control?

Q30. What are the auditor’s responsibilities if he identifies any related part relationship which was not previously disclosed by the management? (SA 550)

Q35. Write short note on “Identifying and Assessing the Risk of Material Misstatement” (SA 315)

going concern? (SA 570)

Q37. What are the benefits of evaluation of internal control?

Q28. What are the audit procedures to obtain sufficient and appropriate audit evidence for opening

Q36. What are the objectives of internal control?

Q42. What are the circumstances relating to possibility of fraud?

Q31. What are the audit procedures to obtain audit evidence for subsequent event? (SA 560)

Q44. Mention the points that an auditor should consider to obtain an understanding of the entity’s

Q43. Discuss relevance of IT in and audit of financial statements.

syllabus)

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Q65. Other imp SA- 250, 610, 700, 701, 706

Q58. Mention some common question/steps which have to be kept in mind while

Q61. Audit of different types of entities/special audits- Audit of Hospital, Audit of Educational

as this chapter generally covers 14 marks so do not apply any short cut in this chapter. Prepare 2

Institution, Audit of Leasing Co (Hire Purchase Co), Audit of Hotel, Audit of Co Operative

Q63. Audit of Public Expenditure.

10 Marks)

undertaking/performing control activities in bank audit. (Only for new syllabus)

Q57. Discuss extent of reliance on analytical procedures. (SA 520)

520)

Q60. Audit of advances of bank. (Only for new syllabus)

Society- Only for new syllabus. (Try to cover entire coverage of chapter as generally its covers 8 –

Q62. Write short note Legal framework and Power of CAG

Q59. Discuss advances classification norms in the financial statements of bank. (Only for new syllabus)

Q64. Discuss types of opinion.

approximately 20 marks so do not apply any short cut in this chapter.

Q67. Audit of Items of Financial statements / Vouching and Verification- Cover all topic from the book,

Q66. The Company Audit- Cover all Section 139 to 148 very strongly as this chapter generally covers

items of financial statements on daily basis, it will be an effective practice to prepare this chapter.

Q46. Discuss types of controls in an automated environment. (Only for new syllabus)

Q48. What precaution should be considered by the auditor while performing audit on the basis of test

Q47. Discuss audit approach in automated environment. (Only for new syllabus)

Q49. Define tolerable misstatement and tolerable rate of deviation.

Q50. Define sampling risk and non - sampling risk

Q51. State the requirement relating to sample design, sample size and selection of items for testing.

Q52. What are the factors affecting sample size?

Q53. Define non-statistical sampling and statistical sampling.

Q54. Discuss random sampling, cluster sampling and systematic sampling.

Q55. What factors should be considered by auditor for substantive analytical procedures? (SA 520)

Q56. Discuss as how substantive analytical procedures are designed and performed by auditor? (SA

checking?

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asked for 4-6 marks. So try to cover all these questions.

Audit in CIS environment- I have divided this topic in approximately 10 questions and this chapter is

Back of Securities, Issue of Debenture, Dividend, Issue of share for consideration other than cash. Section 128, 130, 131 and 134.

Co Audit II- Audit of -

Reduction of Share Capital, Audit of Share Alteration, Issue of Bonus Share, Buy

Only for Old Syllabus-

CA-INTERMEDIATE EIS-SM & AUDIT · Audit in CIS environment- I have divided this topic in...

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