Archive | Auditing

Audit of Different Institutions | India | Auditing

Some of the most frequently asked exam questions on audit of different institutions are as follows:    Q.1. Why Balance Sheet Audit carried out in banks only? Ans. The Banking Company Regulation Act, 1949 provides that a banking company cannot engage in any business other than banking business. Banking business is entirely different from other business which may involve purchase and [...]

By |2017-06-20T20:12:54+00:00June 20, 2017|Institutions|Comments Off on Audit of Different Institutions | India | Auditing

Audit of Limited Companies | Auditing

Some of the frequently asked exam questions on audit of limited companies are as follows:  Q.1. Indicate the Important points to be considered if you are appointed: (a) As the First Auditor, (b) as the Auditor in place of the Retiring Auditor, and (c) as the Auditor through an order of the Government. Ans. (a) As the First Auditor: The [...]

By |2017-06-20T20:12:54+00:00June 20, 2017|Company|Comments Off on Audit of Limited Companies | Auditing

Valuation of Assets and Liabilities of a Company | Auditing

Some of the most frequently asked questions on valuation of assets and liabilities of a company are as follows: Q.1. Examine the Factors that Effects the Valuation of Goodwill. Ans. The factors affecting goodwill valua­tion are: 1. Profitability: One who pays for goodwill looks to the future profits. The future profits which de­pend on a variety of factors (such as, [...]

By |2017-06-20T20:12:54+00:00June 20, 2017|Company|Comments Off on Valuation of Assets and Liabilities of a Company | Auditing
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