Institute of Chartered Accountants of Pakistan was established in____________? April 20, 2025 by admin A. 1949 B. 1956 C. 1961 D. 1972The correct answer to the question: "Institute of Chartered…
Internal check is carried on by___________? April 20, 2025 by admin A. Staff specially appointed for the purpose B. Internal auditor C. Supervisor of the staff D. Members of the staffThe correct answer to the question:…
Errors of Omission are_____________? April 20, 2025 by admin A. Technical errors B. Errors of principle C. Compensating errors D. None of the aboveThe correct answer to the question:…
Window dressing implies_______________? April 20, 2025 by admin A. Curtailment of expenses B. Checking of Wastages C. Under valuation of assets D. Over Valuation of assets The correct answer to the…
Test Checking refers to___________? April 20, 2025 by admin A. Testing of accounts and records B. Checking of selected number of transactions C. Examination of adjusting and closing entries D. Checking of all transactions recordedThe correct answer to the…
______the audit risks_______the materiality and_________the audit effort. April 20, 2025 by admin A. Lower, Higher, Lower B. Lower, Lower, Higher C. Higher, Lower, Lower D. Lower, Higher, HigherThe correct answer to the question: "______the…
When issuing unqualified opinion, the auditor who evaluates the audit findings should be satisfied that the___________? April 20, 2025 by admin A. Amount of known misstatement is documented in working papers B. Estimates of the total likely misstatement is less than materiality level C. Estimate of the total likely misstatement is more than materially level D. Estimates of the total likely misstatement cannot be madeThe…
Analytical procedures issued in the planning stage of an audit, generally April 20, 2025 by admin A. Helps to determine the nature, timing and extent of other audit procedures B. Directs attention to potential risk areas C. Indicates important aspects of business D. All of the above The correct answer to the…
Which of the following statements is most closely associated with analytical procedure applied at substantive stage? April 20, 2025 by admin A. It helps to study relationship among balance sheet accounts B. It helps to discover material misstatements in the financial statements C. It helps to identify possible oversights D. It helps to accumulate evidence supporting the validity of…
Verification refers to_________? April 20, 2025 by admin A. Examining the physical existence and valuation of assets. B. Examining the journal and ledger C. Examination of vouchers related to assets. D. None of the above.The correct answer to the question:…
