Audit

When the auditor is an employee of the organization being audited (auditee), the audit is classified as an ____________ quality audit

• External

• Internal

• Governance

• All of above

Each of the 3 parties involved in an audit _____________ plays a role that contributes to its success.

• The client, auditor and auditeer

• The client, auditor and auditee

• The client, auditor and audite

• The client, moderator and auditee

The time required and costs involved in an external audit are much higher as compared to internal audits

• True

• False

Audit is a fact-finding process that compares actual results with

• Expected results

• Specified standards and plans

• Premature results

• Preliminary results

The _________ is also expected to provide the resources needed and select staff members to accompany the auditors

• External Auditor

• Client

• Auditee

• Internal Auditor

For the benefit of the organization, compliance auditing should only report non-conformances and corrective actions, but should not highlight areas of good practice

• True

• False

Who among the following can be appointed as auditor of a company

• A partner of the company

• A director of the company

• Mr. A the holder of C.A certificate

• Mr. B the holder of MBA certificate

Audit means

• Recording business transaction

• Preparing the financial report

• Examination of documents and ledger

• Evaluate product label and packaging

A vacancy caused by resignation of an auditor is filled by _______________

• Board of directors

• Managing director

• General meeting

• management meeting

External auditor for audit financial of company must be ________________

• Professional technologist (Ts)

• Chartered accountant (CA)

• Geospatial Professional (Gs)

• Professional Surveyor (Sr)