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As you asking for the question paper of the Paper – III : COST AND MANAGEMENT AUDIT MCom II year of the Pune University the question paper is as follow :


Paper – III : COST AND MANAGEMENT AUDIT


1. “Cost Audit can appropriately be called as an “Efficiency Audit” – Explain. 20
OR
Could the following persons be appointed as Cost Auditor of a company ? Briefly
explain with your conclusion.
a) A Cost Accountant in practice, holding part time employment in that company.
b) A Firm of Cost Accountants, who are presently acting as internal auditors of
that company.
c) A Firm of Cost Accountants, who were retained in the previous year as consultants
to install a costing system in that company.
d) A firm of Cost Accountants, one of whose partner is a director of that company. 20


2. Write short notes (Any four) :
a) Social Audit
b) Performance Audit
c) Advantages of Cost Audit
d) Liabilities of Cost Auditor
e) Appointment of Cost Auditor. 20



3. What is Management Audit ? Explain it’s features and advantages.
OR
Distinguish management audit with cost audit and Financial Audit.

4. Write short notes (any four) :
a) Management Audit process
b) Evaluation of MIS and control system.
c) Advantages of Management Audit.
d) Corporate service audit.
e) Audit of special responsibilities of management.


5. From the following information prepare the statement of Reconciliation of financial
profit with that of costing profit.
Costing Information
Direct materials Rs. 2,24,00,000
F.Y.O.H. Recovered @ 20% on Prime Cost
Admn. O.H. Recovered @ Rs. 24 per unit of production
Selling O.H. @ Rs. 32 per unit sold.

Financial Information
(Rs. in lakhs)
D. Materials 200 Bad Debts 16
D. Labour 80 Preliminary Expns. 8
O.H. – Factory 64 Legal charges 4
Admin. 200 Dividend Received 40
Selling 384 Interest received 8
Sales (12 lakh units) 560 Closing stock (4 lakh units) 96
W.I.P. 64






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