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

Related Mcqs:

Audit in depth is synonymous for____________?

A. Complete audit B. Completed audit C. Final audit D. Detailed audit...

Goods sold on the basis of ‘sales or return ‘ should:

A. Be included in the stock B. Not be included in the stock C. Not be checked by auditor D. None of the above...

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

A. Bank statements obtained from the client B. Documents obtained by auditor from third parties directly. C. Carbon copies of sales invoices inspected by the auditor D. Computations made by the auditor...

Which of the following is not an advantage of the preparation of working paper?

A. To provide a basis for review of audit work B. To provide a basis for subsequent audits C. To ensure audit work is being carried out as per programme D. To provide a guide for advising another client on similar issues...

The auditor’s permanent working paper file should not normally, include__________?

A. Extracts from client’s bank statements B. Past year’s financial statements C. Attorney’s letters D. Debt agreements...