
Saturday Class
Quiz
•
Computers
•
Professional Development
•
Medium
CA Saturday
Used 1+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE SELECT QUESTION
20 sec • 1 pt
Select all the tasks auditor should perform during initial planning stage:
Discussion with Management regarding purchase of new machinery
Determination of materiality
Analytical procedures as a part of substantive testing
Legal frame work applicable on entity.
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
In which of the situation stated below, Auditor could make changes in the planning?
Increase in the size of samples
Unexpected results from audit evidences obtained
Need to complete the audit assignment within deadlines
Pressure from management to change the testing method
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is the correct method for substantive testing?
Journal entry testing
Test of details
Inquiry with management
Preliminary Analytical procedures
4.
MULTIPLE SELECT QUESTION
20 sec • 1 pt
What are the benefits of audit planning?
Timely resolution of problems
Reduction in the audit procedures
Reduction in the detection risk
Help in deciding Nature, timing & extent of audit procedures
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which assertions dose not applicable for Balance sheet items?
Completeness
Valuation
Cut-off
Occurrence
6.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
Please select the correct steps in Audit execution.
Planning, Identification of ROMM, respond to risk, reporting
Identification of ROMM, discussion among audit team, testing, reporting
Planning, risk & control identification, testing, reporting
Sampling, Audit planning, testing, reporting
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
You are auditor of A ltd and during planning stage found deficiency in the audit report of previous auditor, will it affect the audit strategy during the CY?
Yes
No
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