Q. 1 What is meant by verification and how it is different from vouching? What is the importance of verification in audit?
Q. 2 Explain the methods to verify the various types of tangible and intangible assets.
Q. 3 How should an auditor verify the share capital, reserves and various types of liabilities?
Q. 4 What is the professional qualification required to be an auditor of a public limited company? What are the rights and duties of an auditor?
Q. 5 What are the various purposes for which an auditor's report may be required? Explain the various types of annual audit reports given by the external auditors.