Attempt all the questions shown below:
Question 1: “Auditing starts where Accountancy ends”. Discuss this statement. How does Accountancy vary from Auditing?
Question 2: Write brief note on the given terms:
i) Internal Cheek.
ii) Internal Audit.
iii) Internal Control.
Question 3: How would you value the following?
i) Intangible Assets.
ii) Investment.
iii) Patents.
iv) Goodwill.
Question 4: ‘An auditor is a representative of shareholders and as well an officer and an employee of a company’. Do you agree? Discuss the rights and responsibilities of an auditor.
Question 5: Differentiate between the following:
a) Clean and Qualified Report
b) Auditor’s Report and Auditor’s Certificate.