Auditing MCQs with answers for test preparation. Auditing MCQs with answers PDF. Auditing question and answer for Senior Auditor, Junior Auditor and Accountant. Auditing MCQs for ppsc, fpsc, nts, etea, kppsc, spsc. Internal audit MCQs with answers for auditing tests online. Our MCQs cover a wide spectrum of auditing topics, including audit planning, internal audit, introduction to auditing, risk assessment, internal controls, audit evidence, and more. Accounting Mcqs
Assuming that it is not the first appointment of the auditor, who is responsible for the appointment of the auditor ?
A. The board of directors in a board meeting
B. The audit committee
C. The shareholders in a general meeting
D. The managing directorWhich one of the following is NOT a duty of the auditor ?
A. Duty to report on any violation of law
B. Duty to report to the company’s bankers
C. Duty to report to the members
D. Duty to sign the audit reportA sale of Rs. 50.000 to A was entered as a sale to B. This is an example of ?
A. Error of commission
B. Error of principle
C. Error of omission
D. Compensating errorInternational auditing standards are issued by the ?
A. International Federation of Accountants
B. Auditing Practices Board
C. International Accounting Standards Board
D. International Standards BoardWhich of the following is normally the most reliable source of audit evidence ?
A. Board minutes
B. Analytical review
C. Suppliers’ statements
D. Internal auditAccording to ISA 500, the strength of audit evidence is determined by which two qualities ?
A. Reliability & extensiveness
B. Objectivity & independence
C. Sufficiency & appropriateness
D. Appropriateness & competenceWhich of the following are you unlikely to see in the current file of auditors’ working papers ?
A. Details of the work done on the inventory count
B. Memorandum & articles of association
C. Audit planning memorandum
D. Summary of unadjusted errorsWhich of the following is NOT an accepted method of selection in sampling ?
A. Random selection
B. Haphazard selection
C. Systematic selection
D. Pervasive selectionWhich of the following describes sampling risk ?
A. The risk of reliance on unsuitable audit evidence
B. The risk of the auditor reaching the wrong conclusions from testing
C. The risk of the auditor carrying out a test the wrong way round
D. The risk that the sample does not reflect the populationAt the planning stage you would NOT consider ?
A. last year’s audit
B. the potential use of internal audit
C. the timing of the audit
D. whether corrections from the inventory count have been implemented