In this article we will discuss about the verification of assets and liabilities in a bank: 1. Cash and Bank Balances 2. Deposits and Other Accounts 3. Acceptances, Endorsements and Other Obligations 4. Borrowings from Others 5. Loans and Advances 6. Investments 7. Bills Purchased and Discounted 8. Inter-Branch, Inter-Company, and Overseas Transactions 9. Money at Call and Short Notice. [...]
Some of the most frequently asked exam questions on investigation and audit of a limited company are as follows: Q.1. Enumerate the circumstances under which the Central Govt. may order 'investigation' of a limited company. Ans. The Companies Act., 1956, under its Section 237, states the specific circumstances when the Central Government may order for investigation into the affairs of [...]
Some of the most frequently asked exam questions on internal check and internal control auditing functions are follows: Q.1. Discuss the importance of internal control and internal auditing functions in an organisation. Ans. The Statutory Auditor (cost auditor or financial auditor) in forming his opinion on cost and financial information needs reasonable assurance that the accounting system is adequate, that [...]