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.
Audit of banks is an example of__________?
A: Statutory audit
B: Balance sheet audit
C: Concurrent audit
D: Both (and (
All of the above
Which of the following is not corroborative evidence?
A: Minutes of meetings
B: Confirmations from debtors
C: Information gathered by auditor through observation
D: Worksheet supporting consolidated financial statements
Worksheet supporting consolidated financial statements
Audit programme is prepared by____________?
A: The auditor
B: The client
C: The audit assistants
D: The auditor and his audit assistants
The auditor and his audit assistants
The working papers which auditor prepares for financial statements audit are___________?
A: Evidence for audit conclusions
B: Owned by the client
C: Owned by the auditor
D: Retained in auditors office until a change in auditors
Owned by the auditor
The quantity of audit working papers complied on engagement would most be affected by__________?
A: Managements integrity
B: Auditors experience and professional judgment
C: Auditors qualification
D: Control risk
Auditors experience and professional judgment
The nature, timing and extent of substantive procedures is related to assessed level of control risk
A: Randomly
B: Disproportionately
C: Directly
D: Inversely
Directly
______the audit risks_______the materiality and_________the audit effort.
A: Lower, Higher, Lower
B: Higher, Lower, Lower
C: Lower, Higher, Higher
D: Lower, Lower, Higher
Lower, Higher, Lower
When issuing unqualified opinion, the auditor who evaluates the audit findings should be satisfied that the___________?
A: Amount of known misstatement is documented in working papers
B: Estimates of the total likely misstatement is less than materiality level
C: Estimate of the total likely misstatement is more than materially level
D: Estimates of the total likely misstatement cannot be made
Estimates of the total likely misstatement is less than materiality level
Analytical procedures issued in the planning stage of an audit, generally
A: Helps to determine the nature, timing and extent of other audit procedures
B: Directs attention to potential risk areas
C: Indicates important aspects of business
D: All of the above
All of the above
Verification refers to_________?
A: Examining the physical existence and valuation of assets.
B: Examining the journal and ledger
C: Examination of vouchers related to assets.
D: None of the above.
Examining the physical existence and valuation of assets.