Q1.CSA200

What is the primary objective of an audit of financial statements?

• To express an opinion on the financial statements

• To prepare the financial statements

• To ensure compliance with tax laws

• To provide financial advice to management

Which of the following is NOT a type of audit opinion?

• Unqualified Opinion

• Qualified Opinion

• Negative Opinion

• Adverse Opinion

What does the term 'scope of an audit' refer to?

• The financial statements being audited

• The audit procedures necessary to achieve the audit objective

• The auditor's qualifications

• The duration of the audit process

Which principle emphasizes the auditor's independence?

• Integrity

• Objectivity

• Professional Competence

• Independence

What is meant by 'reasonable assurance' in an audit?

• A guarantee of no errors in the financial statements

• An assurance that all transactions are recorded

• A high level of confidence that the financial statements are free from material misstatement

• Complete certainty about the financial statements

Which of the following is a responsibility of the management of the entity?

• Providing audit evidence

• Conducting the audit

• Preparing and presenting the financial statements

• Forming an opinion on the financial statements

What does the auditor need to maintain according to the general principles of an audit?

• Confidentiality

• Financial records

• Client relationships

• Personal interests

Which of the following is a limitation of an audit?

• The use of testing

• The auditor's qualifications

• The auditor's independence

• The scope of the audit

What is the role of the Cambodian Institute of CPAs and Auditors (KICPAA) in auditing?

• To conduct audits

• To set auditing standards

• To provide legal advice

• To prepare financial statements

Which of the following is a requirement for the auditor's professional behavior?

• To prioritize client interests over ethical standards

• To disclose all client information

• To avoid any action that discredits the profession

• To maintain personal relationships with clients