A. Auditing
B. Testing
C. Vouching
D. Verification
A. Small scale business
B. Partnership firms
C. Joint-stock Companies
D. Proprietary Concerns
A. Embezzlement
B. Misappropriation
C. Lapping
D. None of these
A. Until the audit is complete
B. Until the financial statements are complete
C. Until the next AGM (Annual General Meeting)
D. Until the directors remove them
A. Compliance risk
B. Detection risk
C. Control risk
D. Inherent risk
A. The timing of the audit
B. Analytical review
C. Last year’s written representation letter
D. Obtaining written representations
A. Systematic selection
B. Pervasive selection
C. Random selection
D. Haphazard selection
A. Appropriateness & competence
B. Sufficiency & appropriateness
C. Reliability & extensiveness
D. Objectivity & independence
A. Internal audit
B. Suppliers’ statements
C. Board minutes
D. Analytical review
A. Participation of management
B. Information processing
C. Commitment to competence
D. Human resource policies and practices