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Auditing Quiz 1

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Auditing Quiz 1

1 / 50

When issuing unqualified opinion, the auditor who evaluates the audit findings should be satisfied that the___________?

2 / 50

You have been proposed as auditor of a company. What is the first step that you should take?

3 / 50

Which of the following statements is not correct about materiality?

4 / 50

Which of the following factors would least likely affect the quantity and content of an auditor?s working papers

5 / 50

The main object of an audit is _____________?

6 / 50

Which of the following is not corroborative evidence?

7 / 50

International auditing standards are issued by the______________?

8 / 50

Pick the odd one:

9 / 50

Which of the following is NOT the responsibility of a company?s directors?

10 / 50

How long is the auditor?s term of office?

11 / 50

When applying analytical procedures, an auditor could develop independent estimate of an account balance to compare it to?___________?

12 / 50

The working papers which auditor prepares for financial statements audit are___________?

13 / 50

Which of the following documents is not relevant for vouching cash sales?

14 / 50

Goods sent on approval basis? have been recorded as ?Credit sales?. This is an example of____________?

15 / 50

Which of the following are you unlikely to see in the current file of auditors? working papers?

16 / 50

Which of the following factors is most important in determining the appropriations of audit evidence?

17 / 50

Which of the following is not true about opinion on financial statements?

18 / 50

For companies required to produce interim financial statements (IFI):

19 / 50

What sort of assurance is provided in a review engagement?

20 / 50

Audit of banks is an example of_____________?

21 / 50

Which of the following is not a revenue expense?

22 / 50

The scope of internal audit is decided by the___________?

23 / 50

The current file of the auditor?s working papers, generally, should include____________?

24 / 50

Which of the following statements is not true about continuous audit?

25 / 50

The independent auditor?s primary responsibility is to______________?

26 / 50

Audit fess is a part of__________.

27 / 50

Which of the following would you not use as a benchmark for comparison when undertaking analytical procedures?

28 / 50

Institute of Chartered Accountants of Pakistan was established in____________?

29 / 50

Internal check is carried on by___________?

30 / 50

Auditor of a___________company does not have right to visit foreign branches of the company?

31 / 50

Which of the following is not type of engagement standard?

32 / 50

What would most effectively describe the risk of incorrect acceptance in terms of substantive audit testing?

33 / 50

In an audit of financial statements, substantive tests are audit procedures that___________?

34 / 50

The degree of effectiveness of an internal control system depends on:

35 / 50

Which of the following best describes the primary purpose of audit programme preparation?

36 / 50

_______the audit risk,_______the materiality and _______the audit effort?

37 / 50

Which of the following statements is most closely associated with analytical procedure applied at substantive stage?

38 / 50

Of the following, which is the least persuasive type of audit evidence?

39 / 50

Test Checking refers to___________?

40 / 50

According to ISA 315, which of the following is NOT a control activity?

41 / 50

How many Standards on Auditing have been issued?

42 / 50

Balance sheet does not include?:_____________?

43 / 50

What is the primary objective of analytical procedures used in the overall review stage of an audit?

44 / 50

Which of the following statements is, generally, correct about the reliability of audit evidence?

45 / 50

IFRS 9 explains about?

46 / 50

Lapping is also known as___________?

47 / 50

Which of the following does NOT belong in the auditors? report?

48 / 50

Which of the following is not an analytical procedure?

49 / 50

Which of the following statements is not true?

50 / 50

For what minimum period should audit working papers be retained by audit firm?

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Auditing Quiz 2
Auditing Quiz 3

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