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Agbm 414: Auditing Question Paper

Agbm 414: Auditing

Course:Bachelor Of Agribusiness Management

Institution: Chuka University question papers

Exam Year:2014

INSTRUCTIONS:
1. Answer question ONE and any other TWO questions 2. Don’t write anything on question paper
1. (a) What is meant by the term “Audit” [3 marks]
(b) Describe the main objects of Audit. [9 marks]
(c) Explain the advantages and disadvantages of continuous Audit. [10 marks]
(d) Highlight any eight factors that influence the amount of Audit evidence to be gathered. [8 marks]
2. (a) In legal and professional requirement an Auditor is required to be independent. Describe the provisions set in this aspect to give the Auditor strong position to carry out this duties independently. [12 marks]
(b) (i) Outline the contents of Audit working papers. [4 marks] (ii) Highlight importance of Audit working papers in the Auditing process. [4 marks]
2
3. (a) You are an Auditor of Matunda public limited company. Explain the steps you would take to vouch the following; (a) Rental income [5 marks] (b) Dividends received [5 marks] (c) Sale of old fixed assets [5 marks] (d) Receipts on issue of shares [5 marks]
4. (a) Highlight the duties of an Auditor in respect to verification of fixed asset in a company. [5 marks]
(b) You have audited the books of Makupa public Limited Company and you came up with end conclusion that the books are not well made. Draft a standard report as required under the law indicting all your reservations. [15 marks] ---------------------------------------------------------------------------------------------------------------------

Agbm 414: Auditing Question Paper

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