Financial Attest Audit Manual Set 3

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This set of Financial Attest Audit Manual Multiple Choice Questions & Answers (MCQs) focuses on Financial Attest Audit Manual Set 3

Q1 | Which of the following statements are true?
Q2 | In the context of Government Accounts in India, the key feeder systems include:
Q3 | In the context of Government Accounts in India, the key feeder systems aslo include State Bank of India or any other public sector bank transacting Government Business on behalf of Reserve Bank of India
Q4 | Which of the following statements is false?
Q5 | Misclassification of revenue expenditure resulting in a saving in a grant when in fact there has been an excess is an example of.
Q6 | The risks identified from top down review of entities and which may affect a number ofdifferent account areas are called
Q7 | The process for identifying material risk factors has ____ key stages
Q8 | The three levels of substantive procedures that can be performed in decreasing order ofassurance required are:
Q9 | The extent of audit procedures and the the level of assurance required are
Q10 | The document that presents an analysis of the main audit areas and a summary of the keyplanning decisions is called
Q11 | Instructions to audit team members on the performance of chosen audit procedures arecontained in the
Q12 | These are performed if the audit team identifies a risk that could lead to potential material misstatement and where no reliance can be placed on mitigating controls to address the risk
Q13 | These are performed if the audit team has not identified risks that could lead to material misstatement and no reliance is planned to be placed on controls.
Q14 | These are Performed if the audit team plans to take assurance from mitigating controls or fromother controls .
Q15 | Analytical Procedures are unlikely to be used when these are performed.
Q16 | Which of the following statements is false?
Q17 | Which of the following statements is True?
Q18 | Which of the following is False?
Q19 | Which of the following is True?
Q20 | The audit working papers contain
Q21 | The acid test for good documentation is
Q22 | Which of these broad characteristics of audit working papers applies particularly to photocpies
Q23 | Working papers should be restricted to matters, which are important, pertinent and useful forthe purpose. Which is the characteristic that we are talking about?
Q24 | If the financial statements properly present receipts and payments or give a true and fair viewand have been prepared in accordance with relevant accounting requirements, the auditor
Q25 | A material but not fundamental uncertainty would lead to