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.
Which of the following is NOT the responsibility of a companys directors?
A: Reporting to the shareholders on the accuracy of the accounts
B: Establishment of internal controls
C: Keeping proper accounting records
D: Supplying information and explanations to the auditor
Reporting to the shareholders on the accuracy of the accounts
International auditing standards are issued by the______________?
A: International Accounting Standards Board
B: International Federation of Accountants
C: International Standards Board
D: Auditing Practices Board
International Federation of Accountants
Which of the following is not true about opinion on financial statements?
A: The auditor should express an opinion on financial statements.
B: His opinion is no guarantee to future viability of business
C: He is responsible for detection and prevention of frauds and errors in financial statements
D: He should examine whether recognised accounting principle have been consistently
He is responsible for detection and prevention of frauds and errors in financial statements
When an auditor is proposed for removal from office, which one of the following is he NOT permitted to do?
A: Circulate representations to members
B: Apply to the court to have the proposal removed
C: Speak at the AGM/EGM where the removal is proposed
D: Receive notification of the AGM/EGM where the removal is proposed
Apply to the court to have the proposal removed
Which one of the following is NOT a duty of the auditor?
A: Duty to report to the companys bankers
B: Duty to report to the members
C: Duty to sign the audit report
D: Duty to report on any violation of law
Duty to report to the companys bankers
____________ is a systematic examination of the books and records or a business?
A: Auditing
B: Vouching
C: Verification
D: Checking
Auditing
The term Audit is derived from a Latin word audire which means___________?
A: To inspect
B: To examine
C: To hear
D: To investigate
To hear