A. The auditor should express an opinion on financial statements.
B. His opinion is no guarantee to future viability of business
C. He is responsible for detection and prevention of frauds and errors in financial statements
D. He should examine whether recognised accounting principle have been consistently
Auditing Mcqs
Auditing Mcqs, Audit Mcqs for preparation of various posts i.e. Senior Auditor by Fpsc, Junior Auditor, Accountant, Internal Auditors, External Auditors. Mcqs Provided here are very Important for Federal Public Service Commission Tests/examinations, National Testing Service etc
A. International Accounting Standards Board
B. International Federation of Accountants
C. International Standards Board
D. Auditing Practices Board
A. Reporting to the shareholders on the accuracy of the accounts
B. Establishment of internal controls
C. Keeping proper accounting records
D. Supplying information and explanations to the auditor
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
A. Are responsible for ensuring that the company complies with the law
B. Are responsible for ensuring that the company pays its tax by the due date
C. Safeguard the company’s assets and manage them on behalf of the shareholders
D. Report suspected fraud and money laundering to the authorities
A. Protect the interests of the minority shareholders
B. Detect and prevent errors and fraud
C. Assess the effectiveness of the company’s performance
D. Attest to the credibility of the company’s accounts
A. Embezzlement
B. Misappropriation
C. Lapping
D. None of these
A. Small scale business
B. Partnership firms
C. Joint stock Companies
D. Proprietary Concerns
A. Auditing
B. Testing
C. Vouching
D. Verification
A. Blood haunt
B. Watch dog
C. May both according to situation
D. None of these
