Basic Auditing MCQs Quiz 1

Notices and documents of the company

Books, accounts and documents of the company

Books, accounts and vouchers of the company

Books and accounts of a company

Performance reviews

Segregation of duties

Physical controls

Organizational structure

Participation of management

Information processing

Human resource policies and practices

Commitment to competence

Objectivity & independence

Appropriateness & competence

Sufficiency & appropriateness

Reliability & extensiveness

Familiarity threat

Advocacy threat

Self-review threat

Self-interest threat

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

indicates important aspects of business

All of the above

directs attention to potential risk areas

All of the above

Indicates important aspects of business

Directs attention to potential risk areas

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

The auditor has rejected an item for sample which was material

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

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

None of the above

The shareholders in a general meeting

The board of directors in a board meeting

The managing director

The audit committee

All of the above

Balance sheet audit

Statutory audit

Concurrent audit