Auditing MCQs with answers for test preparation. 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.
A. The board of directors in a board meeting
B. The audit committee
C. The shareholders in a general meeting
D. The managing director
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 report
A. Error of commission
B. Error of principle
C. Error of omission
D. Compensating error
A. International Federation of Accountants
B. Auditing Practices Board
C. International Accounting Standards Board
D. International Standards Board
A. Board minutes
B. Analytical review
C. Suppliers’ statements
D. Internal audit
A. Reliability & extensiveness
B. Objectivity & independence
C. Sufficiency & appropriateness
D. Appropriateness & competence
A. Details of the work done on the inventory count
B. Memorandum & articles of association
C. Audit planning memorandum
D. Summary of unadjusted errors
A. Random selection
B. Haphazard selection
C. Systematic selection
D. Pervasive selection
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 population
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