Basic Auditing MCQs Quiz 1

Books, accounts and vouchers of the company

Books and accounts of a company

Books, accounts and documents of the company

Notices and documents of the company

Performance reviews

Segregation of duties

Organizational structure

Physical controls

Information processing

Human resource policies and practices

Participation of management

Commitment to competence

Sufficiency & appropriateness

Reliability & extensiveness

Objectivity & independence

Appropriateness & competence

Advocacy threat

Self-review threat

Familiarity threat

Self-interest threat

indicates important aspects of business

directs attention to potential risk areas

helps to determine the nature, timing and extent of other audit procedures

All of the above

Helps to determine the nature, timing and extent of other audit procedures

All of the above

Directs attention to potential risk areas

Indicates important aspects of business

The auditor has rejected an item for sample which was material

None of the above

The auditor concludes balance is materially correct when in actual fact it is not

The auditor concludes that the balance is materially misstated when in actual fact it not

The board of directors in a board meeting

The audit committee

The shareholders in a general meeting

The managing director

Concurrent audit

Balance sheet audit

Statutory audit

All of the above