CA INTER AUDIT MCQs

As per SQC-1 “An appropriate time limit within which to complete the assembly of the final audit file is ordinarily not more than ______days after the date of the auditor’s report”.

• 30

• 60

• 90

• 45

Judging the significance of a matter requires _____of the facts and circumstances.

• objective analysis

• subjective analysis

• Both subjective and objective analysis

• qualitative analysis

The auditor shall assemble the audit documentation in and complete the administrative process of assembling the final audit file on a timely basis after the date of the auditor’s report.

• a) audits notebook

• b) completion memorandum

• c) audit file

• d) any of the above

_________refers to the record of audit procedures performed, relevant audit evidence obtained, and conclusions the auditor reached.

• a) Audit documentation

• b) Audit File

• c) Audit Notebook

• d) Completion Memorandum

• Audit programmes.

• Analyses.

• Issues memoranda.

• Summaries of significant matters,

are examples of:

• a) Audit Evidence

• b) Audit Documentation

• c) Audit File

• d) Final Audit File

SQC 1 requires firms to establish policies and procedures for the retention of

• Audit File

• Engagement documentation.

• Final Audit file

• Audit Documentation

Standard on Quality Control (SQC) 1 provides that,

• unless otherwise specified by law or regulation, audit documentation is the property of the management.

• unless otherwise specified by law or regulation, audit documentation is the property of those charged with governance.

• unless otherwise specified by law or regulation, audit documentation is the property of the management or those charged with governance.

• unless otherwise specified by law or regulation, audit documentation is the property of the auditor.

_______ refers to the record of audit procedures performed, relevant audit evidence obtained, and conclusions the auditor reached.

• a) Audit Techniques

• b) Audit evidence

• c) Audit Documentation

• d) None of the above

An important factor in determining the form, content, and extent of audit documentation of significant matters is the extent of _____ exercised in performing the work and evaluating the results.

• a) professional skepticism

• b) professional integrity

• c) professional judgment

• d) Professional sincerity

The completion of the assembly of the final audit file after the date of the auditor’s report is

• a) an administrative process that does not involve the performance of new audit procedures but certainly involves the drawing of new conclusions.

• b) an administrative process that involves the performance of new audit procedures or the drawing of new conclusions.

• c) an administrative process that does not involve the performance of new audit procedures or the drawing of new conclusions.

• d) a statutory process