auditing

Which of the following is the primary objective of auditing?

• Detection of fraud

• Verification of assets and liabilities

• Expression of an opinion on financial statements

• Preparation of financial statements

Which principle of auditing ensures that an auditor remains unbiased and independent in performing the audit?

• Integrity

• Objectivity

• Confidentiality

• Competence

Which type of audit is conducted to ensure compliance with laws and regulations?

• Internal audit

• Compliance audit

• Operational audit

• Forensic audit

The principle of due professional care in auditing requires auditors to:

• Detect all frauds and errors

• Act diligently and apply professional skepticism

• Accept financial statements at face value

• Follow only the client’s instructions

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

• Documentary evidence

• Analytical procedures

• Legal proceedings

• Physical verification

Which of the following is NOT a fundamental principle of auditing?

• Integrity

• Confidentiality

• Advocacy

• Professional competence and due care

Who appoints the first auditor of a company?

• Board of Directors

• 
  Shareholders

• Government

• Registrar of Companies

Which of the following is NOT a type of audit?

• Financial audit

• Tax audit

• Engineering audit

• Operational audit

An auditor must comply with which of the following standards while conducting an audit?

• Accounting Standards

• Auditing Standards

• Corporate Governance Guidelines

• Company Act

Which document is issued by an auditor after completing an audit?

• Balance Sheet

• Audit Report

• Trial Balance

• Profit and Loss Statement