Senior Auditor - Paper - 1 Multiple Questions and Answers.
Exercise Questions ::
Senior Auditor
| 16. | Which one of the following is NOT a duty of the auditor? |
| |
| A. | Duty to report to the company’s bankers |
| B. | Duty to report to the members |
| C. | Duty to sign the audit report |
| D. | Duty to report on any violation of law |
|
|
Published by:Rehana Akram
| 17. | Assuming that it is not the first appointment of the auditor, who is responsible for the appointment of the auditor? |
| |
| A. | The shareholders in a general meeting |
| B. | The managing director |
| C. | The board of directors in a board meeting |
| D. | The audit committee |
|
|
Published by:Rehana Akram
| 18. | The independent auditor’s primary responsibility is to______________? |
| |
| A. | the directors |
| B. | the company’s creditors (payables) |
| C. | the company’s bank |
| D. | the shareholders |
|
|
Published by:Rehana Akram
| 19. | How long is the auditor’s term of office? |
| |
| A. | Until the audit is complete |
| B. | Until the financial statements are complete |
| C. | Until the next AGM (Annual General Meeting) |
| D. | Until the directors remove them |
|
|
Published by:Rehana Akram
| 20. | Which of the following is correct in relation to materiality? |
| |
| A. | A matter is material only if it changes the audit report |
| B. | A matter is material if the auditor and the directors both decide that further work needs to be done in the area under question |
| C. | A matter is material only if it affects directors’ emoluments |
| D. | A matter is material if its omission or misstatement would reasonably influence the decisions of an addressee of the auditors’ report |
|
|
Published by:Rehana Akram
«»
