Auditing

The title of AAS2 issued by Council of ICAI is:

Internal audit is undertaken

An audit program is a program designed to

An auditor should study and evaluate internal controls to

Standard Auditing Practice-1 (SAP-1) is related with

In a company, Internal Auditor is appointed by:

After completion of the audit of a company the auditor should submit its report to the

A company auditor has to report

Auditor is a watch dog and not a blood hound statement is given by:

Which of the following expenses should not be treated as capital expenditure?

Government may order for special audit under:

A company cannot appoint a person or a firm to be its auditor who undertakes the audit of the companies

An internal auditor discovered that fictitious purchases have been recorded by the purchase clerk. This indicates absence of which control?

Internal check is carried on by:

As per the requirements of section 141(3) a person is disqualified from being appointed as a statutory auditor if he holds:

Internal check is meant for . . . . . . . .

Which of the following is NOT a part of Basic Audit Assumption?

An auditor is verifying valuation of building which has been self-constructed by the client. Which of the following documents is least relevant to the auditor for verification purposes?

The overall attitude and awareness of an entity's board of directors concerning the importance of internal control is reflected in

An auditor assesses control risk because it:

To be an auditor, a person must be an

The report through which an auditor expresses his opinion on the financial statement is known as

Choose the correct statement in reference to accounting standards., choose the correct statement:

The auditor does not have to check the following while auditing salaries/wages

The step(s) involved in conducting system audit is/are

The auditor, in general, is an

The term of the auditorship of first auditor would be from the date of appointment till:

In which audit, the examination of the effects of air emission, water and soil pollution, landscape etc is done?

The Accounting Standard Board was set up by

The primary objective of an audit is to

Routine checks means

Which of the following statement best describes the understanding with respect to ownership and custody of working papers prepared by an auditor?

A systematic examination of books and record of a business is called

"An auditor is not an insurer and all that he is required to do to exercise with reasonable care and skill." This decision was given in the case of

Treating revenue expenditure as capital expenditure is a case of . . . . . . . .

Which of the following documents is not relevant for vouching cash sales?

An independent and critical enquiry of management process is known as:

The Words teaming and lading are used

Receipts from sale of investments should be vouched with the help of:

The section related to removal of auditor is

The existence of a good system of internal check reduces to a great extent

The first Auditor of a company is appointed by the

Which of the following will not lead to creation of secret reserve?

Which of the following statement is not true regard to auditor's attendance at stock taking?

The scope of the audit including reference to the pronouncements of the ICAI, which the auditor adheres to, generally is communicated to the client in the . . . . . . . . (i) auditor's report (ii) engagement letter (iii) representation letter

Special audit is necessary for . . . . . . . .

Knowledge of the entity's business does not help the auditor to:

Under the Companies Act, the Statutory Cost Audit is conducted as per the provisions of

While vouching wages, auditor should examine whether there is proper segregation of duties. Which of the following activities should not be done by same department?

Which statement is not true about Management Audit?

"In continuous audit the auditors staff is busy in checking the accounts throughout the year." This definition is given by

Payment for building purchased should be vouched with the help of:

Vouching implies:

The objectives of auditing are:

When the audit is conducted regularly or irregularly throughout the year, it is called as

Who is responsible for the appointment of statutory auditor of a limited company?

In an audit of financial statements, substantive tests are audit procedures that:

A statutory auditor has a right of access at all times to:

Name the audit, that is generally conducted between two annual audit.

The duties of an auditor of a partnership firm are governed by:

For vouching of which item, the auditor is most likely to examine cost records?

An Auditor is a:

The internal auditor is appointed by

Who out of the following cannot be appointed as a statutory auditor of the company?

The auditor while verifying prepaid insurance has concluded that there is inadequate insurance of building, He should:

. . . . . . . . means "proving the truth or confirmation".

Public company is audited

Concealment of shortage by delaying the recording of cash receipts is known as:

Which of the following does not call for physical verification:

Closing stock is recorded in the books of accounts through:

Which of the following statements with regard to rules regarding exemption from branch audit is not true?

What are the qualification required to be an auditor of a company?

'XYZ' is a firm of Chartered Accountants having three partners, all of whom are in full time practice. What is the total number of companies for which the firm can act as auditor at a given point of time:

Statutory audit is compulsory for:

The board of directors shall appoint first auditor of a company:

Internal control covers the following:

As per AAS4, if auditor detects an error then:

Process of verifying the documentary evidences of transactions are known as:

Internal auditor is:

The term 'Audit' is derived from a Latin word "audire" which means:

Which of the following affects audit effectiveness?

The first annual general meeting of the company must be held

According to Section 226(3) of the Companies Act, 1956, the following persons are disqualified for appointment as an auditor of a company:

Which of the following Auditing Assurance Standard deals with Audit Planning?

Identify the odd one from the following

When a transaction has not been recorded in the books of account either wholly or partially such errors are called . . . . . . . .

Testing the truthness of the items appearing in the books of original entries is called vouching. This definition is given by

Assertion (A): Internal audit is required to be conducted by a qualified chartered accountant. Reason (R): It is a tool of management. Give the correct answer using the given option

Which of the following would give the assurance that debtors mentioned on the date of balance sheet actually exist?

Which of the following statement is not true regarding appointment of auditor by the Central Government?

Which of the following are the rights of a Statutory Auditor? 1. To receive remuneration 2. To attend Board of Directors' Meeting 3. To attend the General Meeting 4. To visit the branch office Choose the correct answer from the following:

The technique(s) of management audit is/are 1. Co-relation of information 2. Observation 3. Ratio analysis 4. Financial data analysis

The value at which the assets are shown in the books of account is known as

Auditing is luxury for:

What is the maximum time limit for submitting management audit report?

The remuneration of an auditor of a partnership firm is fixed by

The beneficiaries of auditing include(s)

A company auditor can be removed before the expiry of his term by

In order to vouch, which of the expenses the auditor will examine in bill of entry?

Safety audit is mandatory for

Normally a company auditor is appointed by:

Which of the following is the function of an auditor?

Test checking reduces-

Verification of the value of assets, liabilities, the balance of reserves, provision and the amount of profit earned or loss suffered a firm is called . . . . . . . .

Which of the following controls would ensure that securities are not lost, stolen or diverted?

Voucher relates to . . . . . . . .

Control risk is assessed at:

For what minimum period should audit working papers be retained by audit firm?

Company auditing was first made compulsory in India, in

The auditor's report alongwith the annual accounts is given

Limitation of auditing is-

Audit of banks is an example of:

The auditor should examine subsequent realization of revenue such as dividends, interest, commission, etc. to:

Latin word "audire" means

Which of the following is related to internal checking?

Audit working papers is an assets of:

Management audit otherwise called as . . . . . . . .

Which of the following statements is NOT correct regarding the duties of an auditor?

Internal check is done for

Proper segregation of duties reduces the opportunities in which a person would both:

An internal audit is watchdog of?

Which of the following statement is not true?

The branch auditor is appointed by:

Which one of the following statement is not true?

Audit done by the employees of the business undertaking is called . . . . . . . .

A company has earned profit on sale of its machine and wants to pay dividend out of it. An auditor should:

The scope of work of an internal auditor is determined by

An auditor is held criminally liable for:

Which of the following is not a limitation of audit as per AAS4?

Auditing, which is taken up when final accounts are ready, is called:

Cost audit report is to be furnished to:

In case of unclaimed wages, the auditor should examine whether:

Which of the following Schedule of the Companies Act, 2013 deals with depreciations?

The authority to remove the first auditor before the expiry of term is with:

While verifying intangible assets, an auditor would recomputed amortization charges and determines whether amortization period is reasonable. The auditor tries to establish . . . . . . . . by doing it

Internal control includes

Window dressing implies:

Internal check is a part of:

Management Audit includes

Institute of Chartered Accountants of India was established:

While observing a client's annual physical inventory, an auditor conducted test counts for certain test counts were higher than the recorded quantities in the client's perpetual records. This situation could be the result of the client's failure to record:

If in a company, the work of one person is complementary to the work of another, then it is related to

Which of the following is NOT a reason for fraud?

Test checking should not be applied to-

Which of the following is a primary voucher:

Which of the following audits is exclusively done by Company Secretary?

Auditor has to submit the audit report to:

A company has bought patents. Which of the following methods is most suitable for providing depreciation on them?

Cost audit of a company under Section 233 B can presently be conducted by

If a company auditor does something inappropriate in his performance of duty which causes the financial loss to the company, he shall be held guilty

Verification refers to

. . . . . . . . is a systematic examination of the books and records or a business.

Which of the following pairs are correctly matched? 1. Test Checking ⇔ Random checking 2. Internal Check ⇔ A system of automatic checking 3. Internal Control ⇔ Includes internal check and internal audit 4. Investigation ⇔ General examination of all accounting records Select the correct answer:

An auditor conducts a surprise check on the pay day (i.e.) the day wages and salaries are paid. The primary purpose of this audit procedure is:

Management audit is ordered by the

In case of sales return, the auditor should examine which documents?

Which of the following is/are the object(s) of cost audit for organisations?

A sale of Rs. 30,000 to A was entered as a sale to B. This is an example of

The verification of the value of assets, liabilities, balance of reserves, provision and the amount of profits earned or loss suffered is called . . . . . . . .

Match the following in the term of Assertions and Explanation : List I (Assertions) List II (Explanations) a. Cut-off 1. Assets and liabilities exist b. Classification 2. Transactions and events have been recorded in proper accounts c. Occurrence 3. Transactions and events have been recorded in the correct accounting period d. Existence 4. Transactions and events that have been recorded, have occurred and pertain to the entity

Lapping is also known as:

Which of the following are included in test of control?

Cost audit is not necessary for units engaged in:

Internal auditor can be removed

Which of the following statements is most closely associated with analytical procedure applied at substantive stage?

The report of the internal audit is presented to

In case of vouching, the auditor is least likely to examine authorization by appropriate authority in case of

Who among the following is eligible to be appointed as an auditor? 1. A person having qualified and recognized by ICAI as practicing CA 2. A body corporate 3. A person holding shares of the company having voting rights

Which of the following report not result in qualification of the auditor's opinion due to a scope limitation?

Auditor gives report on:

The auditor is most likely to examine related party transactions very carefully while vouching:

Investigation is conducted:

The reason(s) of qualified report is/are

Checking the date of voucher on the voucher during vouching, mainly helps the auditor to obtain evidence that

Interim audit refers to

The main objective of verification of assets is

Acontinuous audit is especially needed for

In which type of energy audit readily available data is used to analyse the performance?

Statement I: Management audit is a part of financial audit. Statement II: Management audit is not compulsory under any law.

Which of the following is not an advantage of the preparation of working paper?

Vendors should be approved by Management before purchase department executes an order. If this is not done, then which of the following situations may arise?

A company auditor should inform the Registrar of Companies, in writing, about the acceptance of his appointment within:

During a company audit, the management argues with the auditor that machine has been well maintained hence there is no need for charging depreciation on it. Whether the auditor should:

The objective of vouching is:

Purchase returns should be vouched with the help of:

For which of the following types of enterprises an independent financial audit is required statutorily.

The primary purpose of performing tests of control is to provide reasonable assurance that:

Which of the following is most crucial to a purchase department?

Which of the following statements is not true about continuous audit?

The inventory consists of about one per cent of all assets. The client has imposed restriction on auditor to prohibit observation of stock take. The auditor cannot apply alternate audit procedures.

Management audit implies

Which of the following is not corroborative evidence?

Internal audit is helpful in

While vouching, how will the auditor ensure that all credit sales transactions have been recorded by the entity?

The date on auditor's report should not be

Payment for wage should be vouched with the help of:

Checking the valuation of assets is a part of:

In how many days will the auditor write to the Registrar of companies regarding the acceptance of his appointment

The internal auditors of a joint-stock company

Auditors of a company have to report to the

'Goods sent on approval basis' have been recorded as 'Credit sales'. This is an example of:

Under vouching, checking is done of:

Which of the following is a basic evidence of a transaction?

A written plan containing the details regarding the conduct of a particular audit is called

The Audit of Joint Stock Company is:

Vouching is concerned with:

Which one of the following is the auditor of a company?

Which of the following sections of the Companies Act, 2013 deals with qualifications of the auditor?

A company auditor at a time cannot be the auditor of more than how many companies:

Vouching may be termed as:

Which of the following is not included under the powers and the rights of an auditor in the companies act, 1956?

A small sole business generally does not require auditing because

An audit which is compulsory by the law is . . . . . . . .

If a casual vacancy in the office of auditor arises by his resignation it should only be filled by the company in a . . . . . . . .

"Auditor is a watch-dog and not a blood-bound" was a remark made in the case of:

Tests of control are not concerned with:

What is the civil liability of a company auditor?

Companies (Auditor's Report) order is applicable from:

Which of the following statement is true regarding an auditor's working papers?

A company auditor addresses his audit report to:

Accounting for intangible assets is related to

The technique of management audit in which functions and achievements of two or more firms are compared, is called

. . . . . . . . audit refers to the evaluation of a company's performance against planned goals in the areas of social responsibilities.

In vouching, salary register should be compared with

The area of operations in auditing includes

During the audit of accounts receivable, an auditor obtains sufficient and appropriate evidence in support of the existence assertion this evidence can be used to support which of the following assertions in respect of sales?

Vouching helps the auditors to ascertain whether the entries in the book . . . . . . . . . , this is the basic objective of auditing.

Which of the following acts do not have any coverage under Secretarial Audit?

The statutory auditor is duty-bound to :

The main object of an audit of accounts of a joint-stock company is

The essential documents for verification of freehold land

Which of the following can not be appointed as cost auditor?

Auditing begins where . . . . . . . . ends.

Final audit implies

The financial auditor submits the report to the

The objective(s) of verification of assets is/are

Which of the following is not a function of an auditor?

To verify cash transactions, what is necessary?

The examination of cost accounts and statements is called

Which of the following statements is correct?

Which of the following statements is correct:

Which of the following laws is applicable for the professional Misconduct observed at a factory premise on the part of an Auditor?

Domestic use of office telephone is

The quantity of audit working papers complied on engagement would most be affected by:

The auditor has a right to:

Report of Cost Audit is to be submitted to

Valuation of assets on wrong basis is

. . . . . . . . the audit risks . . . . . . . . the materiality and . . . . . . . . the audit effort.

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. Then 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

The work of audit begins, where the following ends

Consider the following elements: 1. Scope of audit 2. Validity of appointment 3. Knowledge about business 4. Instruction to client 5. Division of work among audit clerks The correct sequence of these elements for the commencement of a new audit will be

Auditing and accounting are concerned with which of the following financial statements?

What is the first stage of energy audit?

In how many days from the registration, the first Auditor of the Company be appointed?

Under which Section of Companies Act. The remuneration of the Auditor has been discussed?

Which of the following can be accepted as a supporting document?

A flow chart, made by the auditor, of an entity's internal control system is a graphic representation that depicts the auditor's:

The objective of the ordinary audit of financial statements is the expression of an opinion on

Who requires a legal audit?

If the auditor believes that the financial statements are fairly stated or is unable to reach and conclusion because of insufficient evidence, the auditor

If an auditor does something wrongfully in the performance of his duties, resulting in a financial loss to the company, he will be held guilty of :

Concurrent audit is a part of:

Which industries fall under strategic area? 1. Industries related to equipments for safety and power generation. 2. Electricity, road and steel industries. 3. Industries related to railway and mineral products. 4. Health and education related industry. Select the correct answer:

The audit which is performed by a statutory auditor throughout the year is known as:

Which of the following statement(s) is/are true? 1. Audit can be done by any person. 2. Auditing is guarantee of 100% correctness. 3. Errors can be detected and prevented from auditing. 4. Auditing is the examination of books and statements.

When an auditor delegates work to his assistants, then

The auditor gives in his report his

Interim audit refers to:

To whom special audit report is addressed?

The beneficiary(s) of audit report is/are 1. Creditor 2. Income tax authority 3. Director 4. Government Select the correct answer:

Which of the following is NOT a function performed by a company secretary?

Analytical procedures issued in the planning stage of an audit, generally:

The vacancy caused by the resignation of an auditor is filled only by

In comparison to the independent auditor, an internal auditor is more likely to be concerned with:

Match the following. List-I List-II a. Statutory Audit 1. Commerce graduate having proficiency in Accounting b. Secretarial Audit 2. Practicing Company Secretary c. Cost Audit 3. Practicing Chartered Accountant d. Internal Audit 4. Practicing Cost & Works (or Management) Accountant

Management Audit means

Which of the following institutions has to conduct compulsory audit?

Which of the following is a part of verification of assets?

Errors and frauds already committed can be discovered under the system of . . . . . . . .

Goods sold on the basis of 'sales or return' should:

The person who conducts audit is called

The section of the companies Act, 2013 which contains provisions regarding remuneration of the auditor is:

The first auditor of a company will hold office

. . . . . . . . is the backbone of auditing.

Process of checking the evidence of the entries called . . . . . . . .

The cost auditor submits the report to the

Consider the following activities 1. Valuation 2. Verification 3. Vouching The correct sequence of the activities undertaken by an auditor is

Which of the following statements is not true?

Management audit is done by

The objective(s) of vouching is/are

"Disclaimer of Opinion" is issued, when the Auditor is-

For all audits of financial statements made in accordance with AAS14, the use of analytical procedures is at the discretion of the auditor in which stage?

Internal auditor is appointed by:

The performance of tests of control is documented in:

An auditor is like a:

Which among the following is not associated with an advantage of audit?

Which of the following is not the duty of a company auditor:

Who can check the minute book?

The retiring auditor does not have a right to

The work of continuous auditor is

Home use of office laptop is

Working papers which contain a record of the audit work done, are the property of

Audit programme is prepared by:

Verification is the process by which an auditor satisfies himself about the accuracy of

For Tata Company Ltd., auditing is-

Purchase of machinery is a . . . . . . . .

Inspection report/receiving report supports entries in:

In order to vouch bought ledger, the auditor obtain confirmations from creditors. The principal reason for the auditor to examine suppliers statements at balance sheet date is to obtain evidence that:

Instruction of audit issued by controller and auditor general of India . . . . . . . .

Sale of land is a . . . . . . . .

Which of the following statements is not correct regarding removal of first auditor before expiry of the term?

Civil liability of an auditor implies liability for:

Which of the following is not an inherent limitation of internal control system?

A Statutory Auditor of a private limited company is duty-bound to submit his report to:

When auditing prepaid insurance, an auditor discovers that the insurance policy bond on building is not available for inspection. This may indicate:

The scope of internal audit is decided by the:

If the Board of Directors fails to appoint the first auditor, then the first auditor is appointed by

Balance Sheet audit is useful when:

"Cost Audit" means:

Floating assets are valued at:

The auditor should state the reasons for his reservations in audit report and should try to quantify the effect on them. This should be done in case he has expressed- (i) A qualified opinion (ii) An unqualified opinion with emphasis of matter paragraph (iii) An adverse opinion (iv) A disclaimer of opinion

The auditor of the company-

The process that entails a proper and rational distribution of work between the members of the staff of the organization is called

The process of checking documentary evidence to ascertain the accuracy of accounting records is called:

Audit at the end of the year is known as:

The subsidiary object of auditing is:

The cost audit report has to be submitted within . . . . . . . . days of the closure of the books of account (or end of the accounting period).

The most important objective of internal audit is

The nature, timing and extent of substantive procedures is related to assessed level of control risk:

Test Checking refers to:

The verification of the authority and authenticity of transaction recorded in the books of accounts is called

Management audit is

Which of the following financial statements assertions are addressed by testing the cut off for plant asset addition?

Internal audit is done:

An enquiry regarding the value, ownership title, existence and possession of an asset is called

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?

An auditor is held liable under C.A. Act 1949 for:

The comptroller and auditor general of India is appointed by the President of India

The principal auditor, as per clarification issued by the ICAI, does not have any right to:

Stock should be valued at:

The balance of cash in often between one to five per cent of total assets. Tick the most appropriate statement with regard to verification of cash in context of this:

The current file of the auditor's working papers, generally, should include:

According to Section 227(1) of Companies Act 1956, the auditor does not have the right-

Contents of Audit Report are given in companies Act under section:

"Balance Sheet Audit" in India means the audit of:

Routine check-up is

Which of the following statements is not true with respect to management representations obtained as per AAS11?

The creditor's accounts, generally, have credit balance. Debit balance may be due to:

Which of the following implies an enquiry into the valuation, ownership, title, existence and possession of assets?

A Company Auditor may be removed by the

When is evidential matter, generally, considered sufficient?

Which one of the following is not an objective of auditing?

An Auditor makes effort to detect mainly following types of fraud

Schedule II of the Companies Act, 2013 has prescribed rates of depreciation for double shift and triple shift working for which one of the following assets?

Which of the following is a revenue reserve?

Which of the following statement is correct?

For which of the following the company auditor has civil liability?

With reference to techniques of auditing, which of the following statement is correct? (1) Routine checking means daily checking of books of accounts. (2) Test checking should always be applied in cash book. Select the correct answer using the option given below

The auditor's permanent working paper file should not normally, include:

In case of a company, which of the following is not correctly matched?

Which of the following statements is not correct about materiality?

An auditor conducts a surprise check on the pay day, i.e., the day wages and salaries are paid. The primary purpose of this audit procedure is to

The management of a company, to which AS3 is not applicable, does not include statement of cash flows in its annual report. The auditor should express:

Who is qualified to be a company auditor?

Statement I: Safety audit is a risk management tools. Statement II: Management audit is a part of traditional auditing.

The audit conducted to check and examine the efficiency and effectiveness of management is called

Which report will be submitted by an auditor, if he is dissatisfied regarding the facts and informations?

When an independent auditor relies on the work of an internal auditor, he should

Consider the following activities and choose the correct sequence of these activities undertaking by auditor: 1. Valuation 2. Verification 3. Vouching

The cost auditor gives his report to the

An analysis of fixed assets account has revealed possibility of unrecorded sale of plant and machinery. Which of the following audit procedures may be adopted to discover it?

Which of the following is/are beneficiary(s) of cost audit? 1. Manager 2. Shareholders and investors 3. Society and consumers 4. Government Select the correct answer:

Voucher should be addressed to the . . . . . . . .

In order to audit petty cash expenses, the auditor has to check

An auditor is a watchdog but not a bloodhound. This statement has been given in decision of which case?

The main objective of Auditing is

The liability of the auditor can be

The definite period of auditing is

The main objective of an audit is

Which of the point is not to be considered while checking, a voucher?

Where does balance sheet audit prove to be more efficient?

Cost audit was started in the following year

The arrangement under which such a system of work is deposited so that the work of one employee is checked by another employee only in the progress of work is called

Which among the following are NOT qualified to be appointed as auditor of a company? (1) An individual who is a Chartered Accountant and holds a Certificate of Practice as per CA Act, 1949 (2) A limited liability partnership firm, which has all partners as Chartered Accountants (3) Officer or employee of a company who is qualified Chartered Accountant degree holder too (4) Any Chartered Accountant whose appointment will result in the person being the auditor of more than 10 companies Choose the most appropriate option:

An auditor should ascertain that a company pays dividends out of:

When issuing unqualified opinion, the auditor who evaluates the audit findings should be satisfied that the:

Continuous audit is specially needed for:

In case the directions fail to appoint first auditor (s), the shareholders shall appoint them at . . . . . . . . By passing a resolution.

Which of the following factors is most important in determining the appropriations of audit evidence?

What would most effectively describe the risk of incorrect acceptance in terms of substantive audit testing?

. . . . . . . . starts where . . . . . . . . ends.

Which type of audit is more suitable where there is no satisfactory system of internal check?

Which of the following assets is least likely to be subjected to lien?

Vouching is:

The educational qualification for an internal auditor of a joint stock company is

To test whether sales have been recorded, the auditor should draw a sample from a file of:

The work of an auditor is:

A Voucher is a . . . . . . . .

An arrangement of staff duties whereby no one person is allowed to record every aspect of a transaction is called

Which of the following statement is/are correct? (1) Internal check is a part of internal audit (2) Internal check in related to arrangement of duties among employees Select the correct answer using the option given below

The management auditors work begins

Checking the head of account debited or credited during vouching helps the auditor to

If auditor does not find any irregularity or fallacy and about which there are no complaint, then which report will be submitted by auditor?

If the book value of an asset stands at . . . . . . . . per cent of the original cost, a company need not provide depreciation on it.

Internal audit means

The practical aspects of management audit is/are

Statement I: The scope of valuation is wider than verification. Statement II: Valuation is done after vouching but before verification.

Valuation is the base of

When counting cash on hand the auditor should:

In case of sales return, the auditor should check

A number of checks and controls exercised in a business to ensure its efficient working are known as . . . . . . . .

Special audit may be ordered

The cost audit was introduced in:

The subsidiary voucher produced in the absence of primary voucher is called

In India, balance sheet audit is synonymous to:

Propriety audit refers to

In case the auditor gives a disclaimer of opinion in the audit report which of the following paragraph(s) of a standard unqualified audit report are modified?

Which one of the following is not considered as relevant voucher while vouching cash sales?

When restrictions that significantly affect the scope of the audit are imposed by the client, the auditor generally should issue which of the following opinion?

Every voucher should be signed by

The working papers which auditor prepares for financial statements audit are:

Which of the following statements is not true with regard to teeming and lading?

Analytical procedures are least likely to be use in the audit of:

Verification of voucher is called

Which of the following is called back-bone of auditing?

Which of the following is not a revenue expense?

Propriety Audit is normally undertaken in case of:

Auditing is compulsory:

Under companies Act. 1956, cost audit has been made compulsory for certain specified companies, under

Which of the following types of audit is not statutorily required for companies in India.

A sale of Rs. 25,000 to A was entered as a sale to B. This is an example of:

Examining the books of accounts is the objective of auditing

The process of verification of cost accounts for the accuracy of data and examination of these records to ensure that they adhere to its principles, plans, procedures and objectives can otherwise be called:

MAOCARO 1988 is applicable to

Before the work of audit is commenced, the auditor plans out the whole of audit work is called . . . . . . . .

Recording a transaction twice in the books of original entry is an error of . . . . . . . .

The auditor of a Government company is appointed by the C & AG. His remuneration is fixed by:

The independence of an internal auditor will most likely be assured if he reports to the:

Which of the following would prevent double payment of the same voucher?

Routine checking reduces the

Direct confirmation procedure can be applied to:

Which is not the objective of Auditing?

Depreciation does not arise form . . . . . . . .

A company auditor can be removed before expiry of his term by:

Who among the following can be appointed as special auditor by the Central Government?

Which of the following factors would least likely affect the quantity and content of an auditor's working papers?

The judgment that "An Auditor is not a Valuer" was given in

Which of the following is NOT a method of collecting Audit Evidence?

The auditor's report is submitted to

In determining the level of materiality for an audit, what should not be considered?

Verification includes

In respect of forfeiture of shares, the Auditor should see:

The word AUDIRE means:

Errors of Omission are:

Cost Audit is compuslory in

If any director is disqualified from being appointed under section 274(1) (g), the auditor should mention this fact in his audit report. For this purpose, how does he determine their eligibility

Management audit is concerned with verification of:

The subject matter of audit is given in the following section of the companies act

A vacancy cause by the resignation of auditor is filled by

Which of the following is true about explanatory notes?

A file containing the rules for conducting the organization under audit is called

Which of the following statements is, generally, correct about the reliability of audit evidence?

Audit in depth is synonymous for:

Which of the following is NOT part of the process of management audit?

Which of the following is not true with regard to verification of assets?

Protection of investors' is which object of auditing?

What time does the audit start-

Auditing and Assurance Standard-2 (AAS-2) are concerned with

The auditor of a company can be removed by the following

If the auditor assesses control risk as high-

Social Audit Report was first brought out by

An internal auditor is appointed by

Which of the following best describes the primary purpose of audit programme preparation?

Which of the following is not a function of an auditor

The approach of management auditor should be

Which of the following is not true about opinion on financial statements?

The sequence of steps in the auditor's consideration of internal control is as follows:

Auditors accumulate evidence to

Statement I: Energy audit is an indepth check of the amount of energy being utilised. Statement II: Energy audit includes general and preliminary audit.

'Auditor is not a valuer', was stated in:

This kind of audit is conducted generally between two annual audit . . . . . . . .

When accounting work is distributed among the staff members in such a way that the work done by one person is independently and automatically checked by another person the system is called:

The auditor has noticed existence of recurring losses sale of fixed assets this indicates:

A departure from recognized accounting principle is disclosed in a note to the financial statements. The auditor should:

Audit of accounts is mandatory under Section 44AB if the total sales are more than

Of the following, which is the least persuasive type of audit evidence?

The "Guidance Note on Revenue" issued by the ICAI does not deal with:

The tool used by an auditor to monitor and control the progress of audit work is:

Following are included in the fraud

By whom the internal auditor is appointed?