WorksheetsPractical Auditing
Total questions: 10
Worksheet time: 9mins
The process of financial audit begins with
Planning
Reporting
Testing
Control
A duty of an auditor to verify whether loans and advances have been properly secured or not is referred to as
Contractual duty
Statutory duty
Duties arising out of professional etiquette
Legal duties
Auditing is derived from the Latin word
Auditor
Order
Audire
Audit
An auditor should not be
Honest
Tactful
Patient
Suspicious
What should you do after an internal audit?
The main objective of auditing is
(a)
Internal auditors are appointed by
(a)
A sale of Rs. 50,000 to A was entered as sale to B what is the type of error?
Error of omission
Error of commission
Compensating error
Error of principle
Goods sent on approval basis has been recorded as credit sales. This is an example of
Error of commission
Compensating error
Error of principle
Error of duplication
Internal audit facilitates
Internal check
Internal audit
Final audit
Internal control
