Review of B.com Part 2 Auditing the Financial Statements Past Papers 2009 to 2021 Latest Download in PDF
The second B.Com part is to examine a student’s past papers on the subject of the year that was just concluded. It is also a means of reminding the students about the importance of the papers they produced and that should not be discarded. I always feel bad when I have written a B.Com paper and someone has discarded it without giving any further thought as to why. But, I realize that sometimes it is the company or the person who does not care enough to get the paper back so that you can do your job and give the exam the attention it deserves.
You may have already known about the B.Com examinations but for those who did not, here goes. There are three sections to each B.Com Part 2 audit: Performance Audit, Strategic Audit, and Systems Audit. Within each section is the International Standard. What makes these different is the fact that one can only audit one section at a time.
The next section will cover the individual section and how it relates to the company’s business model. This includes the year of the B.Com was introduced and what the company did in order to reach that year. It goes without saying that an organization that came from another country will not be able to follow the exact practices that the United States has in place when it comes to performance history. However, it is important to note that a majority of international companies follow the United States’ Performance Patterns.
The strategic audit covers how the company plans to reach its objectives. The performance history is going to be reviewed to determine whether the company is meeting the set goals. This involves the planning process and the resources that will be used in order to achieve the objectives. This part often requires an accountant to review the annual performance report that is submitted for annual purposes.
An independent auditor is the best one for performing the B.Com part 2 audit. This is because he or she is unbiased and does not hold any shares in the company. The auditor can determine what the problems are and whether they are solvable. He or she can also provide solutions if there are problems with the performance history.
In addition, the auditor is the best one to hire in order to close the B.Com audit. The company should be able to perform all the functions related to auditing. It should have a board of directors that have the authority to make decisions related to the audit. All the information needed by the auditor should be given to him or her. If this is done, then the auditor has completed his or her task. All the facts that were found in the audit should be handed over to the client.
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When the B.Com part 2 audit is concluded, the auditor is paid a fee. This does not mean that the client will lose money. It is just part of the contract that states that the auditor must pay the fee. The B.Com company might request an itemized accounting of the costs incurred. The auditor can then report these to the management. The management can then decide what actions to take.
An independent auditor is important because he or she can offer objective advice. He or she can help the company to see which areas need improvement. The audit can also help the management to develop a performance history review. They can determine the importance of each area in terms of the overall performance of the company.
After B.Com Part 2 is concluded, the company can then choose what action to take. They can share the information with the client or they can share it with an outside agency that specializes in auditing the financial reports of large companies. The outside agency will conduct its own internal investigation.
B Com Part 2 Auditing Past Papers |
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| B Com Part 2 Auditing Past Papers 2014 | View Notes |
| B Com Part 2 Auditing Past Papers 2015 | View Notes |
| B Com Part 2 Auditing Past Papers 2016 | View Notes |
| B Com Part 2 Auditing Past Papers 2017 | View Notes |
| B Com Part 2 Auditing Past Papers 2018 | View Notes |
| B Com Part 2 Auditing Past Papers 2019 | View Notes |
Once the company has conducted its own investigation, they will be able to provide the client with accurate and up-to-date financial statements. They will be able to see how well the company has managed its financial statements in the past. They can also see the areas where the company needs improvement. This can improve the company’s overall performance.
Whether the auditor conducted the B.com part 2 audit themselves or hired an outside party, the audit is a vital step in protecting the financial health of the company. If any issues are discovered in the B.com part 2 audit, the audit should be restarted by another independent auditor. The client can continue to use the company’s accounting software and continue making its payments, but if serious problems are uncovered during the re-audit, the original auditor must be replaced.
