Auditing - Study Mode
[#336] The client changed method of depreciation from straight line to written down value method. This has been disclosed as a note to the financial statements. It has an immaterial effect on the current financial statements. It is expected, however, that the change will have a significant effect on future periods. Which of the following option should the auditor express?
Correct Answer
(A) Unqualified opinion
[#337] An auditor is held liable under C.A. Act 1949 for:
Correct Answer
(C) professional misconduct
[#338] The comptroller and auditor general of India is appointed by the President of India
Correct Answer
(C) for 6 years
[#339] The principal auditor, as per clarification issued by the ICAI, does not have any right to:
Correct Answer
(A) Inspect working papers of the branch auditor
[#340] Stock should be valued at:
Correct Answer
(C) Cost or Market price whichever is lower