TYBBI SEM-6 : Auditing-II (Chapter wise Most Imp Questions with Solutions)

  Paper/Subject Code: 85503/Auditing - II

TYBBI SEM-6 : 

Auditing-II 

(Chapter wise Most Imp Questions with Solutions)

 Chapter 1: Company Audit (Companies Act, 2013)

Very Important – Almost Every Year

1. Appointment and removal of auditor under the Companies Act, 2013.

2. Rights and duties of a company auditor.

3. Liabilities of an auditor – civil and criminal.

4. Disqualification of an auditor.

5. Audit Committee – role and functions.

6. Powers of auditor under the Companies Act.

👉 “Rights, Duties and Liabilities” is a guaranteed long answer topic.

Chapter 2: Audit Report

Highly Repeated

1. Types of Audit Report.

2. Qualified vs Unqualified Audit Report.

3. Contents of Audit Report under Companies Act, 2013.

4. CARO (Companies Auditor’s Report Order).

5. Difference between Clean Report and Qualified Report.

6. Adverse Report and Disclaimer of Opinion.

👉 Audit Report is one of the safest 15-mark questions.

 Chapter 3: Audit of Special Entities

 Audit of Banks

1. Audit of advances.

2. Audit of NPAs (Non-Performing Assets).

3. Audit of cash and investments.

4. Role of RBI in bank audit.

5. Special features of bank audit.

Audit of Insurance Companies

1. Audit of life insurance companies.

2. Audit of general insurance companies.

3. Verification of premium and claims.

4. IRDA guidelines for audit.

👉 Bank audit is asked very frequently.

 Chapter 4: Special Audit & Investigations

1. Difference between Audit and Investigation.

2. Special Audit under Companies Act.

3. Forensic Audit – meaning and importance.

4. Management Audit.

5. Tax Audit.

👉 “Audit vs Investigation” is a very common short note.

Chapter 5: Cost Audit & Government Audit

1. Meaning and objectives of Cost Audit.

2. Provisions relating to Cost Audit.

3. Government Audit – objectives and features.

4. CAG – powers and duties.

 Chapter 6: Internal Control & Internal Audit

1. Internal Control – meaning and elements.

2. Internal Audit vs Statutory Audit.

3. Advantages of Internal Control System.

4. Test Checking.

5. Audit Programme.

👉 Internal Control is frequently asked as a short note.

Chapter 7: Professional Ethics

1. Professional misconduct of auditor.

2. Code of Ethics (ICAI).

3. Independence of auditor.

4. Rotation of auditors.