WorksheetsWAOM Session 2
Total questions: 10
Worksheet time: 5mins
Which among the following is one of the purposes of the AOM?
a. To disallow transactions which the auditor finds to have deficiencies
b. To communicate deficiencies relating to financial/operations which involve pecuniary loss
c. To communicate deficiencies relating to financial/operations which do not involve pecuniary loss
d. None of the preceding statements
A written notification to the auditee head and concerned officers/s informing them
of deficiencies noted in the audit of accounts, operations or transactions and requiring comments thereto and/or submission of documentary and other information requirements within a reasonable period
a. Audit Agenda
b. Audit Observation Memorandum
c. Audit Observation
d. Audit Query
How many days within which the management shall submit their reply/comment to the AOM?
a. 10 calendar days
b. 10 working days
c. 15 working days
d. 15 calendar days
Who are the signatories of the AOM?
a. The ATL and the SA/RSA
b. The SA/RSA and the Regional Director
c. The Regional Director and the Assistant Regional Director
d. The Audit Team Member and the ATL
Which among the following COA functions is related to the AOM?
a. Examine, audit and settle
b. Keep the general accounts
c. Adopt measures to correct
d. All of the choices
Who shall be the addressee of the AOM?
a. Agency Accountant
b. Audit Team Leader
c. Regional Director
d. Agency Head
If the auditor does not agree to the management's reply to the AOM, he may issue a _______affirming his observations.
a. disallowance
b. rejoinder
c. suspension
d. none of the choices
If agency officials fail to reply to the AOM, the observation shall be
deemed accepted and shall be included in the audit
report.
True
False
The body of the AOM includes all of the the following except:
a. condition
b. criteria
c. recommendation
d. management's comments
The AOM may be issued anytime during the period of audit.
TRUE
FALSE
