Senior Auditor - Paper - 1 Multiple Questions and Answers.
Exercise Questions ::
Senior Auditor
| 11. | Which of the following is NOT the responsibility of a company’s directors? |
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| A. | Reporting to the shareholders on the accuracy of the accounts |
| B. | Establishment of internal controls |
| C. | Keeping proper accounting records |
| D. | Supplying information and explanations to the auditor |
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Published by:Rehana Akram
| 12. | International auditing standards are issued by the______________? |
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| A. | International Accounting Standards Board |
| B. | International Federation of Accountants |
| C. | International Standards Board |
| D. | Auditing Practices Board |
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Published by:Rehana Akram
| 13. | Which of the following is not true about opinion on financial statements? |
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| A. | The auditor should express an opinion on financial statements. |
| B. | His opinion is no guarantee to future viability of business |
| C. | He is responsible for detection and prevention of frauds and errors in financial statements |
| D. | He should examine whether recognised accounting principle have been consistently |
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Published by:Rehana Akram
| 14. | A sale of Rs. 50.000 to A was entered as a sale to B. This is an example of____________? |
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| A. | Error of omission |
| B. | Error of commission |
| C. | Compensating error |
| D. | Error of principle |
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Published by:Rehana Akram
| 15. | When an auditor is proposed for removal from office, which one of the following is he NOT permitted to do? |
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| A. | Circulate representations to members |
| B. | Apply to the court to have the proposal removed |
| C. | Speak at the AGM/EGM where the removal is proposed |
| D. | Receive notification of the AGM/EGM where the removal is proposed |
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Published by:Rehana Akram
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