Senior Auditor - Paper - 1 Multiple Questions and Answers.
Exercise Questions ::
Senior Auditor
| 21. | Which one of the following is NOT considered to be part of planning? |
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| A. | Background i.e. industry |
| B. | Previous year’s audit i.e. any qualifications in the report |
| C. | Considering the work to be done by the client staff e.g. internal audit |
| D. | Considering whether the financial statements show a true and fair view |
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Published by:Rehana Akram
| 22. | Audit risk is composed of 3 factors. Which of the following is NOT one of those factors? |
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| A. | Compliance risk |
| B. | Detection risk |
| C. | Control risk |
| D. | Inherent risk |
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Published by:Rehana Akram
| 23. | Which of the following should NOT be considered at the planning stage? |
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| A. | The timing of the audit |
| B. | Analytical review |
| C. | Last year’s written representation letter |
| D. | Obtaining written representations |
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Published by:Rehana Akram
| 24. | At the planning stage you would NOT consider____________? |
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| A. | the timing of the audit |
| B. | whether corrections from the inventory count have been implemented |
| C. | last year’s audit |
| D. | the potential use of internal audit |
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Published by:Rehana Akram
| 25. | Which of the following describes sampling risk? |
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| A. | The risk of the auditor carrying out a test the wrong way round |
| B. | The risk of reliance on unsuitable audit evidence |
| C. | The risk that the sample does not reflect the population |
| D. | The risk of the auditor reaching the wrong conclusions from testing |
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Published by:Rehana Akram
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