- (A) To detect errors or fraud
- (B) To comply with GAAP appropriate evidence
- (C) To gather sufficient
- (D) To assess audit risk
Auditing Mcqs
- (A) Management’s integrity
- (B) Auditor’s experience and professional judgment
- (C) Auditor’s qualification
- (D) Control risk
- (A) Evidence for audit conclusions
- (B) Owned by the client
- (C) Owned by the auditor
- (D) Retained in auditor’s office until a change in auditors
- (A) The auditor
- (B) The client
- (C) The audit assistants
- (D) The auditor and his audit assistants
- (A) The auditor has ascertained that the balance is materially correct when in actual fact it is not
- (B) The auditor concludes the balance is materially misstated when in actual fact is not
- (C) The auditor has rejected an item from sample which was not supported by documentary evidence
- (D) He applies random sampling on data which is inaccurate and inconsistent
- (A) Risk of over reliance
- (B) Risk of incorrect rejection
- (C) Risk of incorrect acceptance
- (D) Both A and C
- (A) The auditor concludes balance is materially correct when in actual fact it is not
- (B) The auditor concludes that the balance is materially misstated when in actual fact it not
- (C) The auditor has rejected an item for sample which was material
- (D) None of the above
- (A) Minutes of meetings
- (B) Confirmations from debtors
- (C) Information gathered by auditor through observation
- (D) Worksheet supporting consolidated financial statements
- (A) When it constitutes entire population
- (B) When it is enough to provide a basis for giving reasonable assurance regarding truthfulness
- (C) When it is objective and relevant
- (D) When auditor collects and evaluates it independently
- (A) The reliability of audit evidence and its relevance in meeting the audit objective
- (B) The objectivity and integrity of the auditor
- (C) The quantity of audit evidence
- (D) The independence of the source of evidence
