Auditing engagement can be performed w.r.t.

Related Mcqs:

1. Auditing is compulsory for____________?

   A. Small scale business
   B. Partnership firms
   C. Joint stock Companies
   D. Proprietary Concerns

2. International auditing standards are issued by the______________?

   A. International Accounting Standards Board
   B. International Federation of Accountants
   C. International Standards Board
   D. Auditing Practices Board

3. Auditing is what?

   A. Reporting the financial information
   B. Examination of financial statements
   C. Preparation financial statements
   D. maintaining the ledger records

4. How many Standards on Auditing have been issued?

   A. 32
   B. 34
   C. 36
   D. 38

   Submitted by: ALIYA NAWAZ

5. 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

6. What sort of assurance is provided in a review engagement?

   A. Positive assurance
   B. Negative assurance
   C. High level of assurance
   D. No assurance

7. Which of the following is not type of engagement standard?

   A. Standards on Auditing
   B. Standard on Quality Control
   C. Standards on Review Engagement
   D. Standards on Assurance Engagement

   Submitted by: ALIYA NAWAZ

8. Assuming that it is not the first appointment of the auditor, who is responsible for the appointment of the auditor?

   A. The shareholders in a general meeting
   B. The managing director
   C. The board of directors in a board meeting
   D. The audit committee

9. When issuing unqualified opinion, the auditor who evaluates the audit findings should be satisfied that the___________?

   A. Amount of known misstatement is documented in working papers
   B. Estimates of the total likely misstatement is less than materiality level
   C. Estimate of the total likely misstatement is more than materially level
   D. Estimates of the total likely misstatement cannot be made

10. Which of the following is true about explanatory notes?

    A. These are given by the directors of the company
    B. These are given to adhere to requirements of section 211.
    C. These are given by auditors of the company in auditor’s report
    D. All of the above