CONTENTS Chapter-wise Marks Distribution I-7 Previous Exams Trend Analysis (June 2019 Onwards) (New Syllabus) I-9 Chapter-wise Comparison with Study Material I-17 CHAPTER 1 COMPLIANCE FRAMEWORK 1.1 CHAPTER 2 COMPLIANCES 2.1 CHAPTER 3 DOCUMENTATION AND MAINTENANCE OF RECORDS 3.1 CHAPTER 4 SEARCH AND STATUS REPORT 4.1 CHAPTER 5 KNOW YOUR CUSTOMER (KYC) GUIDELINES 5.1 CHAPTER 6 SIGNING AND CERTIFICATION 6.1 CHAPTER 7 SEGMENT-WISE ROLE OF COMPANY SECRETARIES 7.1 CHAPTER 8 AUDITS 8.1 CHAPTER 9 SECRETARIAL AUDIT 9.1 I-5
CHAPTER 10 INTERNAL AUDIT 10.1 CHAPTER 11 CONCEPTS AND PRINCIPLES OF OTHER AUDITS 11.1 CHAPTER 12 AUDIT ENGAGEMENT 12.1 CHAPTER 13 AUDIT PRINCIPLES AND TECHNIQUES 13.1 CHAPTER 14 AUDIT PROCESS AND DOCUMENTATION 14.1 CHAPTER 15 FORMING AN OPINION AND REPORTING 15.1 CHAPTER 16 SECRETARIAL AUDIT - FRAUD DETECTION AND REPORTING 16.1 CHAPTER 17 QUALITY REVIEW 17.1 CHAPTER 18 VALUES, ETHICS AND PROFESSIONAL CONDUCT 18.1 CHAPTER 19 DUE DILIGENCE-I 19.1 CHAPTER 20 DUE DILIGENCE-II 20.1 Solved Paper: CS Professional Dec. 2020 (New Syllabus) P.1 Solved Paper: CS Professional June 2021 (New Syllabus) P.13 Solved Paper: CS Professional Dec. 2021 (New Syllabus) P.27 Solved Paper: CS Professional June 2022 (New Syllabus) P.38 I-6
TAXMANN® 10.1 INTERNAL AUDIT- MANAGEMENT TOOL Q1. “Internal audit has become an important tool in modern time.” Why? (June 2018) (5 Marks) Ans. INTERNAL AUDIT CHAPTER 10
(June 2015) (2 Marks each) Ans.
Q3. Answer the following by explaining the provisions of the Companies Act, 2013 relating to “Internal Auditor”:
®TAXMANN 10.2 AREAS OF OPERATIONS OF INTERNAL AUDIT AND ITS FEATURES
i. Whether a private company is mandatorily required to appoint an internal auditor?
Ans.
(December 2013) (8 Marks)
Q2. State the areas of operations of Internal Audit and its features.
Areas of operations of Internal Audit: Features of Internal Audit: INTERNAL AUDITOR
ii. Who may be appointed as an internal auditor? Whether Practicing Company Secretary (PCS) can be appointed as an internal auditor?
TAXMANN® 10.3 iii
Q5. What do you mean by “Efficiency Audit”? How does it help the man agement of an enterprise? (December 2015) (5 Marks)
Ans. Meaning of Efficiency Audit:
Q4. Perfect Pvt. Ltd. wishes to appoint its Secretary Mr. Satish as an internal auditor. Referring to the provisions of the Companies Act, 2013 advise the Company. (June 2018) (4 Marks)
Ans. inter alia
EFFICIENCY AUDIT
®TAXMANN 10.4 Efficiency audits can: LIMITATIONS OF INTERNAL AUDIT Q6. Despite numerous benefits internal audit has got some limitations. Discuss. (June 2016) (5 Marks) Ans. Limitations of Internal Audit are as follows: Extra Cost:Time Deficiencies:Limit:
TAXMANN® 10.5 Lack of Professionals: Lack of Transparency: APPLICABILITY OF INTERNAL AUDIT Q7. Internal audit is applicable to every company.(JuneComment2019) (5 Marks) Ans. Applicability of Internal Audit: ba (c) Every private company having: These companies are required to appoint an internal auditor which may be either an individual or a partnership firm or a body corporate. CORE PRINCIPLES OF INTERNAL AUDIT Q8. Define Internal Audit. Describe core principles of Internal Audit. (December 2019) (5 Marks)
®TAXMANN Ans.10.6 INTERNAL AUDIT PROCESS Q9. Narrate the Internal Audit Process. Ans. .
TAXMANN® 10.7 STEPS IN APPRAISAL OF MANAGEMENT DECISION Q10. What are the steps in appraisal of management decision? Ans. INTERNAL CONTROL MECHANISM Q11. Write short note on: “Internal Control Mechanism”. Ans.
®TAXMANN 10.8 INTERNAL CONTROL AND ITS OBJECTIVES Q12. What do you mean by “Internal Control”? What are objectives of Internal Control? Ans.Objectives of Internal Control:
Q14. Discuss four technique of Internal Audit?
Technical Competence Due Professional Care Monitoring of internal control Review of operating activities Review of compliance with laws and regulations Risk management TECHNIQUE
Scope of
TAXMANN® 10.9 EVALUATION OF INTERNAL AUDIT FUNCTION BY AN AUDITOR
Q13. “During the performance of the Secretarial Audit, the secretarial auditor also needs to report on the adequacy of systems and process in the company. The internal audit function greatly assists the Secretarial auditor in determining the extent to which he can place reliance upon the work of the internal auditor.” In light of the given statement, what are the points the Secretarial auditor should document his evaluation and conclusions in this respect? Ans. Audit Function OF INTERNAL AUDIT
®TAXMANN Ans.10.10Review of Operating Environment: . Review Controls: . Test AccountControls:Details: INTERNAL AUDIT CORE PRINCIPLES Q15. What are core principles of Internal Audit? Ans. INTERNAL AUDIT’S TERMS OF REFERENCE OR MANUAL Q16. What clarity the internal audit’s manual provide about an organisation?
TAXMANN® 10.11 Ans.
Rs. : 475 | AUTHOR : Divya Bajpai PUBLISHER : TAXMANN DATE OF PUBLICATION : July 2022 EDITION : 4th Edition ISBN NO : 9789356222861 NO. OF PAGES : 360 BINDING TYPE : PAPERBACK Secretarial Audit Compliance Management & Due Diligence (SACMDD/Due Diligence) | CRACKER ORDER NOW Description USD : 37 This book is prepared exclusively for the Professional Level of Company Secretary Examination requirement. It covers the questions (topic/ sub-topic wise) & detailed answers strictly as per the syllabus of ICSI. The Present Publication is the 4th Edition & updated till 31st May 2022 for CS-Professional | New Syllabus | Dec. 2022/June 2023 exams. This book is authored by CS Divya Bajpai, with the following noteworthy features: · Strictly as per the New Syllabus of ICSI · Coverage of this book includes Fully-Solved Questions of Past Exams; Topic-wise Solved Paper: CS Professional December 2020 | New Syllabus Solved Paper: CS Professional June 2021 | New Syllabus Solved Paper: CS Professional December 2021 | New Syllabus Solved Paper: CS Professional June 2022 | New Syllabus · [Arrangement of Questions] Questions in each chapter are arranged 'sub-topic wise' · [Important Additional Questions] with Answers are provided · [Marks Distribution] Chapter-wise marks distribution · [Past Exam Trend Analysis] June 2019 onwards | New Syllabus · [ICSI Study Material] Chapter-wise comparison with ICSI Study Materials
