A. Introductory paragraph specifying the pages to which the report relates and the accounting convention adopted
B. Basis of the opinion
C. Involvement of any specialist
D. Statement of responsibilities of directors and auditors
Auditing Mcqs
Auditing Mcqs | NTS, FPSC, PSC, TEST – important mcqs for senior auditor-test. Auditing MCQS, Accounting MCQS, Finance MCQS for Senior Auditor Test. Multiple Choice Questions and answers Audit MCQs are arranged to help you in assessing your basic concepts and to prepare for any audit test. Important Accounting and Auditing solved mcqs with answers and solution for test preparation. These questions may occur in recruitment exams.
Internal check is carried on by___________?
A. Staff specially appointed for the purpose
B. Internal auditor
C. Supervisor of the staff
D. Members of the staff
The authority to remove the first auditor before the expiry of term is with__________?
A. the shareholders in a general meeting
B. the shareholders in the first annual General meeting
C. the board of directors
D. the Central Government
To test whether sales have been recorded, the auditor should draw a sample from a file of__________?
A. purchase orders
B. sales orders
C. sales invoices
D. bill of loading
The term of the auditor ship of first auditor would be from the date of appointment till________?
A. the conclusion of statutory meeting
B. the conclusion of first annual general meeting
C. the conclusion of next annual general meeting
D. the date of removal
Which of the following is not corroborative evidence?
A. Minutes of meetings
B. Confirmations from debtors
C. Information gathered by auditor through observation
D. Worksheet supporting consolidated financial statements
In Pakistan, balance sheet audit is synonymous to___________?
A. Annual audit
B. Continuous audit
C. Detailed audit
D. Statutory audit
Which of the following is not a corroborative evidence?
A. Minutes of meetings
B. Confirmations from debtors
C. Information gathered by auditor through observation
D. Worksheet supporting consolidated financial statements
Balance sheet audit includes verification of____________?
A. Assets
C. Income and expense accounts where appropriate
B. Liabilities
D. All of the above
If the book value of an asset stands at________per cent of the original cost, a company need not provide depreciation on it.
A. two
B. fifteen
C. five
D. ten
