Basic Auditing MCQs Quiz 1

Notices and documents of the company

Books, accounts and documents of the company

Books and accounts of a company

Books, accounts and vouchers of the company

Segregation of duties

Physical controls

Organizational structure

Performance reviews

Human resource policies and practices

Participation of management

Commitment to competence

Information processing

Appropriateness & competence

Objectivity & independence

Sufficiency & appropriateness

Reliability & extensiveness

Self-review threat

Advocacy threat

Familiarity threat

Self-interest threat

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

All of the above

indicates important aspects of business

directs attention to potential risk areas

All of the above

Directs attention to potential risk areas

Indicates important aspects of business

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

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 auditor has rejected an item for sample which was material

The audit committee

The board of directors in a board meeting

The shareholders in a general meeting

The managing director

Balance sheet audit

Statutory audit

All of the above

Concurrent audit