Attempt all the problems shown below:

problem 1: “Auditing starts where Accountancy ends”. Discuss this statement. How does Accountancy vary from Auditing?

problem 2: prepare brief note on the given terms:

i) Internal Cheek.
ii) Internal Audit.
iii) Internal Control.

problem 3: How would you value the following?

i) Intangible Assets.
ii) Investment.
iii) Patents.
iv) Goodwill.

problem 4: ‘An auditor is a representative of shareholders and as well an officer and an employee of a company’. Do you agree? Discuss the rights and responsibilities of an auditor.

problem 5: Differentiate between the following:

a) Clean and Qualified Report
b) Auditor’s Report and  Auditor’s Certificate.