Basic Auditing MCQs Quiz 1

Books and accounts of a company

Books, accounts and documents of the company

Notices and documents of the company

Books, accounts and vouchers of the company

Performance reviews

Organizational structure

Segregation of duties

Physical controls

Information processing

Commitment to competence

Human resource policies and practices

Participation of management

Reliability & extensiveness

Sufficiency & appropriateness

Appropriateness & competence

Objectivity & independence

Self-review threat

Familiarity threat

Advocacy 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

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

Indicates important aspects of business

Directs attention to potential risk areas

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

None of the above

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

Balance sheet audit

Statutory audit

All of the above

Concurrent audit