In determining the level of materiality for an audit, what should not be considered?

Related Mcqs:

Which of the following is correct in relation to materiality?

A. A matter is material only if it changes the audit report B. A matter is material if the auditor and the directors both decide that further work needs to be done in the area under question C. A matter is material only if it affects directors’ emoluments D. A matter is material if its … Which of the following is correct in relation to materiality?Read More...

Test Checking refers to___________?

A. Testing of accounts and records B. Checking of selected number of transactions C. Examination of adjusting and closing entries D. Checking of all transactions recorded...

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

A. It is conducted at regular interval B. It may be carried out on daily basis C. It is needed when the organization has a good internal control system D. It is expensive...

Who is responsible for the appointment of statutory auditor of a limited company ?

A. Directors of the company B. Members of the company C. The Central Government D. All of the above...

Which of the following is true about written representations?

A. They are the best source of audit evidence B. They should be used only when there is a lack of other substantive audit evidence C. They should be used only when there is other substantive audit evidence to complement it D. Shareholders receive a copy of all material written representations...