CA Final Advanced Auditing, Assurance and Professional Ethics MTP May 2025: Question Paper and Solutions

How to Prepare for CA Final Advanced Auditing, Assurance and Professional Ethics

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Question directory and available solutions

50 indexed questions. Open a question to read its full statement and available answer.

1. Mukund Hospital is a multi-speciality hospital which has been facing a lot of pilferage and troubles regarding their inventory maintenance and…
2. KNC Bank Ltd. was having 20 branches all over India by the year ending 31st March, 2024. At the Mumbai branch of the bank there were high value cash…
3. MLP & Co., a Chartered Accountants firm, was appointed to conduct the statutory audit for F.Y. 2023-24 for the company RST Ltd. CA. Kushal was the…
4. Simran Edible Oil Limited is a public company which has the business of manufacturing cooking oil. The company is in this particular business since…
5. Karma Ltd. got incorporated in 1980s as a private limited company and started its business into two segments - printing and construction. The two…
6. CA Harman, a practicing Chartered Accountant, intends to fill out the Multi-purpose Empanelment Form (MEF) to be included in the panel for the…
7. Joseph Retail Pvt. Ltd. is a well-known luxury fashion retailer in Delhi, recognised for its premium collection of designer clothing and…
8. Fun Fiesta Ltd., an entertainment company that operates a traveling circus, has been facing a significant decline in popularity over the past few…
9. CA Raj has been appointed as the auditor of MARCO Pvt. Ltd., a private real estate company. During the audit, he requested information from the…
10. ABC Bank recently faced a cyber-attack where hackers attempted to steal customer data. This raised concerns about their cybersecurity measures.…
11. Adboot & Co., a firm of Chartered Accountants, has been approached by Mix Ltd. to conduct a review engagement of its financial statements for the…
12. PMP Bank Ltd., received an application from a pharmaceutical company for the takeover of their outstanding term loans secured on its assets, availed…
13. Veda Ltd., a listed company having headquarter in Delhi, is engaged in the production and supply of unique chemicals to various industries. To…
14. CA. Jin, a recently qualified practicing Chartered Accountant, got his first audit assignment of Ordinary (P) Ltd. for the financial year 2023-24.…
15. Rajveer & Associates have been the statutory auditors of Ish and Vish Ltd., a listed company. CA Vishav, the engagement partner, had designed…
16. Qura Capital Ltd., a Non-Banking Financial Company (NBFC) classified under the Scale-Based Regulation framework, is required to maintain a minimum…
17. Pink Ltd., a leading manufacturing company, is expanding its operations globally. However, the company has received multiple complaints from…
18. CA Dhanush is the auditor of Jivi Limited having a turnover of more than 300 Crores. The audit fee for the year is fixed at 2.25 crore. During the…
19. Rajni Ltd., a listed company, has appointed M/s Amit & Co. as its statutory auditor. CA Sunil, who recently joined the firm, has been appointed as…
20. Kailash & Co., Chartered Accountants, has been appointed as statutory auditor of Diksha Ltd. for the F.Y. 2023-24. The audit team has completed the…
21. Hitesh, a Chartered Accountant, applied for obtaining a Certificate of Practice. However, while filling out the application form, he intentionally…
22. Mr. Chetan, a practicing Chartered Accountant, was involved in a family dispute over ancestral property. To gain an undue advantage, he allegedly…
23. Groof Limited is engaged in the business of executing construction contracts for its clients. As on 31st March, 2024, the company's financial…
24. Joy World Pvt. Ltd. operates five amusement centres that offer recreational activities for families, especially children and young adults. These…
25. DBH & Associates are the statutory auditors of MBPC Limited, a public sector undertaking in the power sector. It is engaged in constructing large…
26. Shrenik Ltd. was set up initially as a private limited company. Subsequently, it got converted into a public company. The company's management has…
27. The firm from which you are pursuing your articleship training is the internal auditor of Sukh Ltd. While conducting the audit of the medical…
28. JIN Ltd. which is based in Mumbai, is in the business of manufacturing leather products since 1995 and wants to acquire OM Leathers Private Limited,…
29. Chartered Accountant Firms - Tink & Co., Llyods & Co. and Manohar & Co. respectively, were appointed as the joint auditors for conducting the…
30. CA Kamlesh was appointed as the engagement partner on behalf of Dutta & Associates for conducting the statutory audit for 3rd consecutive year of…
31. CA Mridul, a practicing Chartered Accountant, has been appointed as the statutory auditor of PQT Limited, a reputed listed company engaged in…
32. CA Ashish is carrying out an audit of restated financial statements of Krop Limited for past 3 financial years i.e. 2023-24, 2022-23 and 2021-22 for…
33. CA Ram is the Statutory Auditor of RJ Ltd. for the financial year 2023-24. The company is engaged in the production of electronic products. During…
34. Surya Pvt. Ltd., engaged in the business of real estate, appointed CA Amit as the auditor for F.Y. 2023-24. During the audit, CA Amit requested the…
35. Focus Ltd. is a manufacturing company that is planning to implement a new digital system to streamline its production processes and improve…
36. The Comptroller and Auditor General of India has appointed a Chartered Accountant firm to conduct the comprehensive audit of Saras Company Limited,…
37. DND and Associates are the statutory auditor of XYZ Ltd. Audit of the company is pending for F.Y. 2022-23 and 2023-24 due to a dispute between…
38. L & K Investments Ltd. is a company having paid up share capital of 1 Crore, it has a subsidiary, Wealth Fund Management Ltd. The primary business…
39. KSN and Co., Chartered Accountants, have been appointed by Nature Ltd. to assist management in the preparation and presentation of financial…
40. CA Yug, a practicing chartered accountant, is a promoter director of CDS Pvt. Ltd. and is also a sleeping partner in his family's garments…
41. The Cashier of a company committed a fraud and absconded with the proceeds thereof. The Chief Accountant of the company also did not know when the…
42. Miger Ltd. is a multinational corporation that prides itself on sustainable business practices and holistic value creation. During a recent board…
43. Ananya & Co., Chartered Accountants, during the audit of Krishna Ltd. found that certain machinery had been imported for the production of a new…
44. You have been appointed as Concurrent auditor of a branch of Silver Bank Ltd., which primarily deals in foreign exchange transactions. During the…
45. During the audit of Goldy Ltd., a company engaged in the production of paper, the auditor received certain confirmation for the balances of trade…
46. CA Meet, a practicing Chartered Accountant was on foreign tour between 12-08-24 and 27-08-24. On 20-08-24, a message was received from one of his…
47. Sun & Associates are the statutory auditors of a large un-listed company, which is engaged in manufacturing of auto components. Subsequent to…
48. The Engagement Partner of the audit team of High Inventory Limited assessed that the inventory is material with respect to the audit of the…
49. Act Pharma Limited is engaged in manufacturing of active pharmaceutical ingredients. Due to change in laws and regulations, every company engaged in…
50. Dheer & Co., a sole proprietary Chartered Accountancy firm in practice with an office in a busy belt of a city, had great difficulty in regularly…