1) Which of the following is not an example of an internal control for the sales process?

Select one:

a.Invoices automatically generated from order and dispatch document

b.Application control that only allows orders to be processed against existing approved customers with enough unused credit limit

c.Credit committee review of credit limits on a quarterly basis

d.Approved purchase order is reconciled to invoice

2) Which of the following would be an example of a limited assurance engagement?

Select one:

a.The reporting of procedures performed by the auditor as agreed by the client.

b.The audit of annual financial statements.

c.The review of annual financial statements.

d.All of the above.

3) Which of these is not an inherent limitation of an internal control structure?

Select one:

a.accounting override.

b.mistakes in judgment.

c.management override.

d.collusion.

4) Assessing an expert report involves the auditor:

Select one:

a.deciding that they do not have the expertise necessary to test and evaluate the accuracy of reported information

b.setting the nature, timing and extent of work to be completed by the expert

c.evaluating the expert qualifications as a member of a relevant professional body

d.assessing the consistency of information included in the expert report with their understanding of the client

5) Which of the following audit tests is least likely to be performed before the balance sheet date?

Select one:

a.testing of internal control over cash

b.search for unrecorded liabilities.

c.observation of client's inventory count

d.confirmation of accounts receivables.