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A. Performance reviews
B. Physical controls
C. Organizational structure
D. Segregation of duties
Answer
C. Organizational structure
Submitted by: Rasool Bux
Auditing Mcqs
Lapping is also known as___________?
A. Teeming and lading
B. Looping
C. Embezzlement
D. Hacking
Answer
A. Teeming and lading
Submitted by: Rasool Bux
The independent auditor’s primary responsibility is to______________?
A. the directors
B. the company’s creditors (payables)
C. the company’s bank
D. the shareholders
Answer
D. the shareholders
Submitted by: Rasool Bux
Which one of the following is NOT a duty of the auditor?
A. Duty to report to the company’s bankers
B. Duty to report to the members
C. Duty to sign the audit report
D. Duty to report on any violation of law
Answer
B. Error of commission
Submitted by: Rasool Bux
A sale of Rs. 50.000 to A was entered as a sale to B. This is an example of__?
A. Error of omission
B. Error of commission
C. Compensating error
D. Error of principle
Answer
B. Error of commission
Submitted by: Rasool Bux
International auditing standards are issued by the______________?
A. International Accounting Standards Board
B. International Federation of Accountants
C. International Standards Board
D. Auditing Practices Board
Answer
B. International Federation of Accountants
Submitted by: Rasool Bux