Month: July 2017

A. 1949
B. 1956
C. 1961
D. 1972

A. Complete audit
B. Completed audit
C. Final audit
D. Detailed audit

A. Internal check system
B. Continuous audit
C. Internal audit system
D. None of these

A. Statutory audit
B. Balance sheet audit
C. Concurrent audit
D. All of the above

A. Shareholders
B. Management
C. Government
D. Law

A. By independent auditor
B. Statutorily appointed auditor
C. By a person appointed by the management
D. By a government auditor

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.

A. Error of principle
B. Error of commission
C. Error of omission
D. Error of duplication

A. Teeming and lading
B. Looping
C. Embezzlement
D. Hacking

A. Performance reviews
B. Physical controls
C. Organizational structure
D. Segregation of duties