Auditing

7- Recording the audit procedures performed, relevant audit evidence, and conclusions the auditor reached, is: A- Confirmation B- Physical examination C-Audit documentation D-Audit evidence 8- The owner of the audit files is: A-The auditor B-The management C-The third party D-None of the above 9- Management responsibilities include: A-Preparing the financial statements B-Establishing the internal control system C-Both A and B are correct answers D-None of the above 10- Assessing the effectiveness of the internal control system is the responsibility of the: A-The auditor B-The management C-The third party D-None of the above 11- Intentional misstatement is: A-Error B-Fraud C-Both A and B are correct answer D-Audit evidence 12-Audit objectives are derived from: A-Management assertions B-Audit evidence C- Conceptual framework D-Qualitative characteristics of the financial information 13- "Taking assets from their rightful owners, is: A-Fraudulent financial reporting B-Misappropriation of assets C-Errors D-None of the above 14- Professional skepticism consists of: A- A disposition to inquiry with some sense of doubt B-Critical assessment of audit evidence C-Both A and B are correct answers D- None of the above