- Information
- AI Chat
Aud339 common test aug2016
common test for you try!!!!
Course
Auditing (AUD339)
402 Documents
Students shared 402 documents in this course
University
Universiti Teknologi MARA
Academic year: 2020/2021
Uploaded by:
0followers
12Uploads
0upvotes
Recommended for you
Preview text
UNIVERSITI TEKNOLOGI MARA
COMMON TEST 1
COURSE : AUDITING
COURSE CODE : AUD
EXAMINATION : AUGUST 2016
TIME : 1 HOUR 30 MINUTES
INSTRUCTIONS TO CANDIDATES
1. This question paper consists of three ( 3 ) questions.
2. Answer ALL questions in the Answer Booklet. Start each answer on a new page.
3. Do not bring any material into the examination room unless permission is given by the
invigilator.
4. Please check to make sure that this examination pack consists of :
i) the Question Paper
ii) an Answer Booklet – provided by the Faculty
5. Answer ALL questions in English.
DO NOT TURN THIS PAGE UNTIL YOU ARE TOLD TO DO SO
This examination paper consists of 4 printed pages
QUESTION 1
An audit is a systematic and independent examination of books, accounts, documents and
vouchers of an organisation to ascertain how far the financial statements present a true and
fair view of the concern. The report prepared by the auditor plays a very important role in
economic decision making.
Required:
a. List FOUR ( 4 ) objectives of financial statement audit.
( 4 marks)
b. Briefly explain the following differences between accounting and auditing:
Auditing Accounting
The process
Frequency
Dependency
Statutory requirement
(8 marks)
c. List any THREE (3) external stakeholders that exert demand for financial statement
audit.
(3 marks)
(Total: 15 marks)
QUESTION 2
An accounting audit performs a necessary function of assuring that a company not only is
being truthful in its financial reporting but also that the company's operations are working as
intended. Auditors may work either inside the company, conducting an internal audit, or for
another organization, conducting an external audit.
a. Identify the objective of the following types of audit.
i. Compliance audit
ii. Forensic Audit
iii. Operational audit
(3 marks)
b. Briefly explain any FOUR (4) differences between external and internal auditors.
( 8 marks)
c. Briefly explain any TWO (2) non-assurance services provided by Chartered
Accountants
( 4 marks)
(Total: 15 marks)
c. In the course of auditing ABC Berhad, it was found out that the grandson of En. Ali,
the audit partner of AOB associates works as the financial controller of company. En.
Ali proceeded with the audit task assigned to him.
d. AOB Associates has long been the auditor of ABC Berhad. Mr. Alex a newly
appointed company director feels it is unhealthy for the company to reappoint AOB
Associates as an auditor of the company. Prior to AGM, he sent termination notice to
AOB associates and appoint new auditor BCE Associates.
e. AOB Associates plans to accept Borhan, a son of one of the audit partner as a new
partner to AOB Associates. Borhan is a fresh graduate with a first class degree in
Bachelor of Accountancy from UiTM. He plans to apply for MIA membership after he
has obtained the necessary working experience.
(10 marks)
(Total: 20 marks)
(TOTAL: 50 MARKS)
END OF QUESTION PAPER
Was this document helpful?
Aud339 common test aug2016
Course: Auditing (AUD339)
402 Documents
Students shared 402 documents in this course
University: Universiti Teknologi MARA
Was this document helpful?
CONFIDENTIAL
AC/AUG 2016/AUD339
© Hak Cipta Universiti Teknologi MARA CONFIDENTIAL
UNIVERSITI TEKNOLOGI MARA
COMMON TEST 1
COURSE
:
AUDITING
COURSE CODE
:
AUD339
EXAMINATION
:
AUGUST 2016
TIME
:
1 HOUR 30 MINUTES
INSTRUCTIONS TO CANDIDATES
1.
This question paper consists of three (3) questions.
2.
Answer ALL questions in the Answer Booklet. Start each answer on a new page.
3.
Do not bring any material into the examination room unless permission is given by the
invigilator.
4.
Please check to make sure that this examination pack consists of :
i)
the Question Paper
ii)
an Answer Booklet – provided by the Faculty
5.
Answer ALL questions in English.
DO NOT TURN THIS PAGE UNTIL YOU ARE TOLD TO DO SO
This examination paper consists of 4 printed pages
