- (A) The design of the internal control system and the implementation of the controls
- (B) The design of the internal controls and the implementation of the control system
- (C) The implementation of the controls and the correctness of the accounting records
- (D) The design of the internal control system and the correctness of the accounting records
Auditing Mcqs
- (A) Internal audit
- (B) Suppliers’ statements
- (C) Board minutes
- (D) Analytical review
- (A) Appropriateness & competence
- (B) Sufficiency & appropriateness
- (C) Reliability & extensiveness
- (D) Objectivity & independence
- (A) Memorandum & articles of association
- (B) Audit planning memorandum
- (C) Summary of unadjusted errors
- (D) Details of the work done on the inventory count
- (A) Systematic selection
- (B) Pervasive selection
- (C) Random selection
- (D) Haphazard selection
- (A) The risk of the auditor carrying out a test the wrong way round
- (B) The risk of reliance on unsuitable audit evidence
- (C) The risk that the sample does not reflect the population
- (D) The risk of the auditor reaching the wrong conclusions from testing
- (A) the timing of the audit
- (B) whether corrections from the inventory count have been implemented
- (C) last year’s audit
- (D) the potential use of internal audit
- (A) The timing of the audit
- (B) Analytical review
- (C) Last year’s written representation letter
- (D) Obtaining written representations
- (A) Compliance risk
- (B) Detection risk
- (C) Control risk
- (D) Inherent risk
- (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
