Worksheetsauditing
Total questions: 10
Worksheet time: 5mins
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
