The term ‘Audit’ is derived from a Latin word “audire” which means___________?

Related Mcqs:

Which of the following is not true about opinion on financial statements?

A. The auditor should express an opinion on financial statements. B. His opinion is no guarantee to future viability of business C. He is responsible for detection and prevention of frauds and errors in financial statements D. He should examine whether recognised accounting principle have been consistently...

Internal audit is undertaken:

A. By independent auditor B. Statutorily appointed auditor C. By a person appointed by the management D. By a government 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...

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...

The auditor should examine subsequent realization of revenue such as dividends, interest,commission, etc to:­_____________?

A. identify cases of unrecorded revenue B. ensure proper disclosure in the balance sheet C. recompute accrued income on the data of balance sheet D. Any of these...