A. Authenticated copy of relevant minutes of meetings may be regarded as management representation
B. It should always be in working
C. It may be dated prior to the report date
D. It should be addressed to the auditor
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. Risk of over reliance
B. Risk of incorrect rejection
C. Risk of incorrect acceptance
D. Both A. and C.
A. Minutes of meetings
B. Confirmations from debtors
C. Information gathered by auditor through observation
D. Worksheet supporting consolidated financial statements
A. When it constitutes entire population
B. When it is enough to provide a basis for giving reasonable assurance regarding truthfulness
C. When it is objective and relevant
D. When auditor collects and evaluates it independently
A. To be reliable, evidence should conclusive rather than persuasive
B. Effective internal control system provides reliable audit evidence
C. Evidence obtained from outside sources routed through the client
D. All are correct.
A. randomly
B. disproportionately
C. directly
D. inversely
A. may be eliminated for an account balance under certain conditions
B. are designed to discover significant subsequent events
C. will increase proportionately when the auditor decreases the assessed level of control risk
D. may be test of transactions, test of balance and analytical procedures
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
A. To help to corroborate the conclusions drawn from individual components of financial statements
B. To reduce specific detection risk
C. To direct attention to potential risk areas
D. To satisfy doubts when questions arise about a client’s ability to continue
A. client’s unedited account balance
B. client’s unedited account balance adjusted for trends in the industry
C. Prior year audited balance
D. Prior year audited balance adjusted for trends in the industry
