A. Introductory paragraph specifying the pages to which the report relates and the accounting convention adopted
B. Basis of the opinion
C. Involvement of any specialist
D. Statement of responsibilities of directors and auditors
Related Mcqs:
- Which of the following are you unlikely to see in the current file of auditors’ working papers?
A. Memorandum & articles of association
B. Audit planning memorandum
C. Summary of unadjusted errors
D. Details of the work done on the inventory count - Which one of the following may auditors NOT perform for their client?
A. Taking management decisions
B. Preparation of accounting records
C. Preparing tax computations
D. Advising on weaknesses in the internal control systems - Why do auditors concentrate their efforts on material items in accounts?
A. Because they are easier to audit
B. Because it reduces the audit time
C. Because the risk to the accounts of their being incorrectly stated is greater
D. Because the directors have asked for it - The date on auditor’s report should not be____________?
A. the data of AGM
B. later than the date on which the accounts are approved in board’s meeting
C. earlier than the date on which the accounts are approved by the management
D. Both A. and B. - Which of these are types of Audit Report?
A. Unqualified opinion
B. Qualified opinion
C. Adverse opinion
D. Disclaimer of opinion.
All of aboveSubmitted by: Naveed Ali
- Balance sheet does not include:_____________?
A. Verification of assets and liabilities
B. Vouching of income and expense accounts related to assets and liabilities
C. Examination of adjusting and closing entries
D. Routine checks - Auditor of a___________company does not have right to visit foreign branches of the company?
A. Unlimited liability
B. Manufacturing
C. Banking
D. Nonprofit making - 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 - Which of the following statements is not correct about materiality?
A. Materiality is a relative concept
B. Materiality judgments involve both quantitative and qualitative judgments
C. Auditor’s consideration of materiality is influenced by the auditor’s perception of the needs of an informed decision maker who will rely on the financial statements
D. At the planning state, the auditor considers materiality at the financial statement level only - Which of the following is true about written representations?
A. They are the best source of audit evidence
B. They should be used only when there is a lack of other substantive audit evidence
C. They should be used only when there is other substantive audit evidence to complement it
D. Shareholders receive a copy of all material written representations
