Auditing MCQs

Correct answer A. Whether corrections from the inventory count have been implemented

Correct answer D. Obtaining written representations

Correct answer B. Compliance risk

Correct answer A. Considering whether the financial statements show a true and fair view

Correct answer A. A matter is material if its omission or misstatement would reasonably influence the decisions of a user of the auditor's report

Correct answer C. Until the next AGM (Annual General Meeting)

Correct answer C. The shareholders

Correct answer B. The shareholders in a general meeting

Correct answer B. Duty to report to the company’s bankers

Correct answer B. Apply to the court to have the proposal removed

Correct answer A. Error of commission

Correct answer B. He is responsible for detection and prevention of frauds and errors in financial statements

Correct answer C. International Federation of Accountants

Correct answer C. Reporting to the shareholders on the accuracy of the accounts

Correct answer D. Because the risk to the accounts of their being incorrectly stated is greater

Correct answer C. Safeguard the company’s assets and manage them on behalf of the shareholders

Correct answer D. Attest to the credibility of the company's accounts

Correct answer B. Lapping

Correct answer B. Joint stock companies

Correct answer B. Vouching