🔍Auditing MCQs
Auditing MCQs
122 MCQs31
Which of the following is NOT an accepted method of selection in sampling?
ASystematic selection
BPervasive selection
CRandom selection
DHaphazard selection
32
Which of the following describes sampling risk?
AThe risk of the auditor carrying out a test the wrong way round
BThe risk of reliance on unsuitable audit evidence
CThe risk that the sample does not reflect the population
DThe risk of the auditor reaching the wrong conclusions from testing
33
Errors of Omission are_____________?
ATechnical errors
BErrors of principle
CCompensating errors
DNone of the above
34
Internal check is carried on by___________?
AStaff specially appointed for the purpose
BInternal auditor
CSupervisor of the staff
DMembers of the staff
35
Audit in depth is synonymous for____________?
AComplete audit
BCompleted audit
CFinal audit
DDetailed audit
36
Concurrent audit is a part of____________?
AInternal check system
BContinuous audit
CInternal audit system
DNone of these
37
Audit of banks is an example of_____________?
AStatutory audit
BBalance sheet audit
CConcurrent audit
DAll of the above
38
The scope of internal audit is decided by the___________?
AShareholders
BManagement
CGovernment
DLaw
39
Internal audit is undertaken:
ABy independent auditor
BStatutorily appointed auditor
CBy a person appointed by the management
DBy a government auditor
40
Which of the following statements is not true?
AManagement fraud is more difficult to detect than employee fraud
BInternal control system reduces the possibility of occurrence of employee fraud and management fraud
CThe auditor’s responsibility for detection and prevention of errors and frauds is similar.
DAll statements are correct.