1.Audit documentation may be recorded on paper or on electronic or other media.The following are examples of audit documentation, except:

a.Audit programs.

b.Letters of confirmation and representation.

c.Correspondence (including e-mail) concerning significant matters.

d.The entity's accounting records.

2.Which of the following statements relating to stratification is incorrect?

a.When performing tests of details of transactions and account balances, the population is often stratified by monetary value.

b.The results of audit procedures applied to a sample of items within a stratum can be projected to the entire population.

c.When verifying the valuation assertion for accounts receivable, account balances may be stratified by age.

d.Stratification reduces the variability of items within each stratum.

3.The refusal of a client's lawyer to provide a representation on the legality of a particular act committe4d by the client is ordinarily:

a.Proper grounds to withdraw from the engagement.

b.Insufficient reason to modify the auditor's report because of the lawyer's obligation of confidentiality.

c.Considered to be a scope limitation.

d.Sufficient reason to issue a "subject to" opinion.

4.When a qualified opinion is expressed, the implication is that the auditor:

a.Does not believe the financial statements are presented in accordance with the applicable financial reporting framework.

b.Does not know if the financial statements are presented in accordance with the applicable financial reporting framework.

c.Believes the financial statements are presented fairly.

d.Believes the financial statements are presented fairly "except for" a specific item of them.

5.The auditor's report should be addressed:

a.Only to the shareholders of the entity whose financial statements are being audited.

b.Only to the board of directors of the entity whose financial statements are being audited.

c.To the CEO or the CFO of the entity whose financial statements are being audited.

d.Either to the shareholders or the board of directors of the entity whose financial statements are being audited.

6.When an auditor expresses an adverse opinion, the Opinion section should include:

a.The principal effects of the departure from the requirements of the PFRS.

b.The substantive reasons for the financial statements being misleading.

c.A direct reference to a separate section disclosing the basis for the opinion.

d.A description of the uncertainty or scope limitation that prevents an unmodified opinion.

7.Which of the following would not be included in a practitioner's report based upon a review of an entity's financial statements?

a.A statement that the financial statements are the responsibility of the company's management.

b.A statement describing the principal procedures performed.

c.A statement that the review was conducted in accordance with PSAs.

d.A statement describing the practitioner's conclusions based upon the results of the review.

8.The date of the review report should:

a.Not be earlier than the date on which the financial statements were approved by management.

b.Be earlier than the date on which the financial statements were approved by management.

c.Coincide with the date of the financial statements.

d.Not be later than the date of the financial statements.

9.The practitioner's compilation report shall include the following, except:

a.A statement that the practitioner has compiled the financial information based on information provided by management.

b.A modified conclusion if a special purpose framework is used by the entity.

c.A description of what a compilation engagement entails in accordance with PSRS 4410 (Revised).

d.A description of the practitioner's responsibilities in compiling the entity's financial information.

PS. NO NEED FOR DETAILED EXPLANATIONS, CORRECT ANSWERS WILL DO.