Auditor Test 2
1 / 50
The auditor should examine subsequent realization of revenue such as dividends, interest,commission, etc to:_____________?
2 / 50
The auditor has serious concern about the going concern of the company. It is dependent on company’s obtaining a working capital loan from a bank which has been applied for. The management of the company has made full disclosure of these facts in the notes to the balance sheet. The auditor is satisfied with the level of disclosure. He should issue___________?
3 / 50
Which of the following is not an advantage of the preparation of working paper?
4 / 50
Auditing is what?
5 / 50
The board of directors shall appoint first auditor of a company
6 / 50
Institute of Chartered Accountants of Pakistan was established in____________?
7 / 50
Which of the following statements is not true about continuous audit?
8 / 50
A sale of Rs. 50.000 to A was entered as a sale to B. This is an example of____________?
9 / 50
If a casual vacancy in the office of auditor arises by his resignation it should only be filled by the company in a_________?
10 / 50
Balance sheet does not include:_____________?
11 / 50
Which one of the following is NOT considered to be part of planning?
12 / 50
Auditor of a___________company does not have right to visit foreign branches of the company?
13 / 50
Audit in depth is synonymous for____________?
14 / 50
Which of the following statement best describes the understanding with respect to ownership and custody of working papers prepared by an auditor?
15 / 50
What is meant by negative assurance?
16 / 50
Which of the following is not corroborative evidence?
17 / 50
The independent auditor’s primary responsibility is to______________?
18 / 50
Which one of the following may auditors NOT perform for their client?
19 / 50
Which of the following is NOT an accepted method of selection in sampling?
20 / 50
To test whether sales have been recorded, the auditor should draw a sample from a file of__________?
21 / 50
Which of the following is correct in relation to materiality?
22 / 50
Audit of banks is an example of__________?
23 / 50
Which of the following statement is true regarding an auditor’s working papers?
24 / 50
What would most appropriately describe the risk of incorrect rejection in terms of substantive testing?
25 / 50
Scope of financial audit is__________?
26 / 50
In case the directions fail to appoint first auditor (s), the shareholders shall appoint them at_________by passing a resolution.
27 / 50
Which of the following expenses should not be treated as capital expenditure?
28 / 50
Which of the following statements is not true?
29 / 50
For companies required to produce interim financial statements (IFI):
30 / 50
Which of the following factors would least likely affect the quantity and content of an auditor’s working papers
31 / 50
What would most effectively describe the risk of incorrect acceptance in terms of substantive audit testing?
32 / 50
If the book value of an asset stands at________per cent of the original cost, a company need not provide depreciation on it.
33 / 50
A statutory auditor has a right of access at all times to___________?
34 / 50
The current file of the auditor’s working papers, generally, should include____________?
35 / 50
“Which of the following are fundamental ethical principles for professional accountants? 1 Competence 2 Compliance 3 Integrity 4 Objectivity”
36 / 50
Who out of the following cannot be appointed as a statutory auditor of the company?
37 / 50
assetsThe nature, timing and extent of substantive procedures is related to assessed level of control risk
38 / 50
According to ISA 315, which of the following is NOT an element of the control environment?
39 / 50
controlWindow dressing implies_______________?
40 / 50
Which of the following statements is not correct about materiality?
41 / 50
Balance sheet audit includes verification of____________?
42 / 50
Which of the following factors is most important in determining the appropriations of audit evidence?
43 / 50
The main object of an audit is _____________?
44 / 50
Audit in depth is synonymous for_____________?
45 / 50
Errors of Omission are_____________?
46 / 50
Floating assets are valued at____________?
47 / 50
the conclusion of statutory meeting
48 / 50
What are analytical procedures?
49 / 50
Which of the following is not a revenue expense?
50 / 50
How long is the auditor’s term of office?
Your score is
Restart quiz
