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

Segregation of duties

Performance reviews

Organizational structure

Physical controls

Human resource policies and practices

Commitment to competence

Information processing

Participation of management

Sufficiency & appropriateness

Reliability & extensiveness

Objectivity & independence

Appropriateness & competence

Self-review threat

Self-interest threat

Familiarity threat

Advocacy threat

indicates important aspects of business

All of the above

directs attention to potential risk areas

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

Directs attention to potential risk areas

All of the above

Indicates important aspects of business

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

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

None of the above

The auditor has rejected an item for sample which was material

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

The board of directors in a board meeting

The audit committee

The shareholders in a general meeting

The managing director

Statutory audit

Concurrent audit

Balance sheet audit

All of the above