Auditing MCQs
Auditing MCQs for Test Preparation Online | Latest 2025 Quiz FPSC, NTS, KPPSC, PPSC, SPSC, BPSC, OTS, UTS, PTS, CTS, ATS, ETEA MCQs Test Questions.
The scope of internal audit is decided by the___________?
A: Shareholders
B: Management
C: Government
D: Law
Management
Audit of banks is an example of_____________?
A: Statutory audit
B: Balance sheet audit
C: Concurrent audit
D: All of the above
All of the above
Concurrent audit is a part of____________?
A: Internal check system
B: Continuous audit
C: Internal audit system
D: None of these
Internal audit system
Audit in depth is synonymous for____________?
A: Complete audit
B: Completed audit
C: Final audit
D: Detailed audit
Detailed audit
Lapping is also known as___________?
A: Teeming and lading
B: Looping
C: Embezzlement
D: Hacking
Teeming and lading
Which of the following statements is not true?
A: Management fraud is more difficult to detect than employee fraud
B: Internal control system reduces the possibility of occurrence of employee fraud and management fraud
C: The auditors responsibility for detection and prevention of errors and frauds is similar.
D: All statements are correct.
Internal control system reduces the possibility of occurrence of employee fraud and management fraud
According to ISA 500, the strength of audit evidence is determined by which two qualities?
A: Appropriateness & competence
B: Sufficiency & appropriateness
C: Reliability & extensiveness
D: Objectivity & independence
Sufficiency & appropriateness
Which of the following is normally the most reliable source of audit evidence?
A: Internal audit
B: Suppliers statements
C: Board minutes
D: Analytical review
Suppliers statements
The degree of effectiveness of an internal control system depends on:
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
The design of the internal control system and the implementation of the controls
According to ISA 315, which of the following is NOT an element of the control environment?
A: Participation of management
B: Information processing
C: Commitment to competence
D: Human resource policies and practices
Information processing