Auditing - Study Mode
[#311] Which of the following statements is not correct regarding removal of first auditor before expiry of the term?
Correct Answer
(C) The approval of the Central Government is required for such removal
[#312] Civil liability of an auditor implies liability for:
Correct Answer
(D) Misfeasance
[#313] Which of the following is not an inherent limitation of internal control system?
Correct Answer
(C) Inefficiency of internal auditor
[#314] A Statutory Auditor of a private limited company is duty-bound to submit his report to:
Correct Answer
(D) The Shareholders of the Company in the Annual General Meeting
[#315] When auditing prepaid insurance, an auditor discovers that the insurance policy bond on building is not available for inspection. This may indicate:
Correct Answer
(B) Lien on building