Process of verifying the documentary evidences of transactions are known as___________?

Related Mcqs:

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

A. Memorandum & articles of association B. Audit planning memorandum C. Summary of unadjusted errors D. Details of the work done on the inventory count...

Which of the following statement is true regarding an auditor’s working papers?

A. They document the level of independence maintained by the auditor B. They should be considered as the principle support for the auditor’s report C. They should not contain details regarding weaknesses in the internal control system D. They help the auditor to monitor the effectiveness of the audit firm’s quality control...

Audit of banks is an example of__________?

A. Statutory audit B. Balance sheet audit C. Concurrent audit D. Both (A. and (B. E. All of the above...

The branch auditor is appointed by___________?

A. Shareholders in an annual general meeting B. Shareholders in general meeting C. Board of directors in board meeting D. Any 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...