Which of the following statements is not true with respect to management representations obtained as per AAS­11?

Related Mcqs:

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

A. The auditor has ascertained that the balance is materially correct when in actual fact it is not B. The auditor concludes the balance is materially misstated when in actual fact is not C. The auditor has rejected an item from sample which was not supported by documentary evidence D. He applies random sampling on … What would most effectively describe the risk of incorrect acceptance in terms of substantive audit testing?Read More...

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

A. To be reliable, evidence should conclusive rather than persuasive B. Effective internal control system provides reliable audit evidence C. Evidence obtained from outside sources routed through the client D. All are correct....

Which of the following affects audit effectiveness?

A. Risk of over reliance B. Risk of incorrect rejection C. Risk of incorrect acceptance D. Both A. and C....

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

A. The reliability of audit evidence and its relevance in meeting the audit objective B. The objectivity and integrity of the auditor C. The quantity of audit evidence D. The independence of the source of evidence...

Which of the following is not an analytical procedure?

A. Tracing of purchases recurred in the purchase book to purchase invoices. B. Comparing aggregate wages paid to number of employees C. Comparing the actual costs with standard costs D. All of them are analytical procedure...