The concept of stewardship means that a company’s directors________________?

Auditing Mcqs 07/10/2021

A. Are responsible for ensuring that the company complies with the law
B. Are responsible for ensuring that the company pays its tax by the due date
C. Safeguard the company’s assets and manage them on behalf of the shareholders
D. Report suspected fraud and money laundering to the authorities

Related Mcqs:

    When an auditor is proposed for removal from office, which one of the following is he NOT permitted to do?
    A. Circulate representations to members B. Apply to the court to have the proposal removed C. Speak at the AGM/EGM where the removal is proposed D. Receive notification of the AGM/EGM where the removal is proposed...
    Which of the following is normally the most reliable source of audit evidence?
    A. Internal audit B. Suppliers’ statements C. Board minutes D. Analytical review...
    Verification refers to_________?
    A. Examining the physical existence and valuation of assets. B. Examining the journal and ledger C. Examination of vouchers related to assets. D. None of the above....
    Which of the following statements is most closely associated with analytical procedure applied at substantive stage?
    A. It helps to study relationship among balance sheet accounts B. It helps to discover material misstatements in the financial statements C. It helps to identify possible oversights D. It helps to accumulate evidence supporting the validity of a specific account balance...
    Who out of the following cannot be appointed as a statutory auditor of the company?
    A. Erstwhile director B. Internal auditor C. Relative of a director D. Only (B. and (C....

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