Category: Auditing Mcqs

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

A. An auditor may serve on the board of directors of an audit client.
B. An auditor who is an immediate family member of the director of an audit client must not be assigned to the audit team.
C. Purchasing goods from an audit client on normal commercial terms does not create a threat to the auditor’s independence.
D. An auditor who was recently a director of an audit client must not be assigned to the audit team for that client.

A. Background i.e. industry
B. Previous year’s audit i.e. any qualifications in the report
C. Considering the work to be done by the client staff e.g. internal audit
D. Considering whether the financial statements show a true and fair view

A. Teeming and lading
B. Looping
C. Embezzlement
D. Hacking

A. Auditing
B. Vouching
C. Verification
D. Checking

A. helps to determine the nature, timing and extent of other audit procedures
B. directs attention to potential risk areas
C. indicates important aspects of business
D. All of the above

A. Appropriateness & competence
B. Sufficiency & appropriateness
C. Reliability & extensiveness
D. Objectivity & independence

A. the data of AGM
B. later than the date on which the accounts are approved in board’s meeting
C. earlier than the date on which the accounts are approved by the management
D. Both A. and B.