The quantity of audit working papers complied on engagement would most be affected by__________??
A. Management’s integrity
B. Auditor’s experience and professional judgment
C. Auditor’s qualification
D. Control risk
Category: Audit Mcqs
Audit in depth is synonymous for____________??
A. Complete audit
B. Completed audit
C. Final audit
D. Detailed audit
When an auditor is proposed for removal from office, which one of the following is he NOT permitted to do??
A. Circulate representations to members
B. Apply to the court to have the proposal removed
C. Speak at the AGM/EGM where the removal is proposed
D. Receive notification of the AGM/EGM where the removal is proposed
Audit risk is composed of 3 factors. Which of the following is NOT one of those factors??
A. Compliance risk
B. Detection risk
C. Control risk
D. Inherent risk
Which one of the following is NOT considered to be part of planning??
A. Background i.e. industry
B. Previous year’s audit i.e. any qualifications in the report
C. Considering the work to be done by the client staff e.g. internal audit
D. Considering whether the financial statements show a true and fair view
Audit programme is prepared by____________??
A. The auditor
B. The client
C. The audit assistants
D. The auditor and his audit assistants
Of the following, which is the least persuasive type of audit evidence??
A. Bank statements obtained from the client
B. Documents obtained by auditor from third parties directly.
C. Carbon copies of sales invoices inspected by the auditor
D. Computations made by the auditor
An auditor is like a_______________??
A. Blood haunt
B. Watch dog
C. May both according to situation
D. None of these
Verification refers to_________??
A. Examining the physical existence and valuation of assets.
B. Examining the journal and ledger
C. Examination of vouchers related to assets.
D. None of the above.
Which of the following statements is not true??
A. Management fraud is more difficult to detect than employee fraud
B. Internal control system reduces the possibility of occurrence of employee fraud and management fraud
C. The auditor’s responsibility for detection and prevention of errors and frauds is similar.
D. All statements are correct.
