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Aba 401 Auditing Practice And Investigation Question Paper

Aba 401 Auditing Practice And Investigation

Course: Bachelor Of Business Administration

Institution: Jaramogi Oginga Odinga University Of Science And Technology question papers

Exam Year:2014

ABA 401 AUDITING PRACTICE AND INVESTIGATION
Instructions: 1. Answer questions ONE and two other questions
3. Time allowed is 2 hours

QUESTION ONE
a) Assume you are auditing a public company, how would you verify the following.
i) Land and building (4 Marks)
ii) Share capital (4 Marks)
b) State the points to be noted while conducting an Audit investigation ( 6 Marks)
c) What is forensic auditing (3 Marks)
d) Why should an auditor ascertain, record and evaluate a client’s internal control system
(6 Marks)
c) Describe the main factors which influence the auditor in determining the size of the sample he
will use for detailed testing. (7 Marks)
(30 Marks)

QUESTION TWO
a) Discuss the various methods of sample selection for audit purposes.
(15 Marks)
b) Suppose as an auditor, you have doubt about your client’s ability to operate
as going concern, what should you do? (10 Marks)
(25 Marks)

QUESTION THREE
a) Discuss the main objectives of an investigation (10 Marks)
b) Your CPA firm has been appointed to carry out an investigation into the
affairs of company that your client wishes to purchase. Explain clearly how
you would proceed with the assignment. (15 Marks)
(25 Marks)

QUESTION FOUR
In connection with the recurring audit of Specta international for the year ended
December 31, 2012, you have been assigned the audit of the following accounts:
i) Manufacturing equipment
ii) Manufacturing equipment accumulated depreciation
iii)Repairs to manufacturing equipment
Describe the main objectives of your audit in these areas and explain, the auditing
procedure that you will design to accomplish these objectives. (25 marks)

QUESTION FIVE
a) Describe the circumstances under which forensic auditing would be required
and explain in detail how it can be applied to fraud investigation. (15 Marks)
b) Explain the functions of members of an audit committee (10 Marks)
(25 Marks

Aba 401 Auditing Practice And Investigation Question Paper

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