Auditing MCQ Question

Date: 1/6 / 2019 Time:2hou Note The Exam In4 Pants In your answer sheet choose the correct answer for the following statements 1- Auditing should be done by @ independent person. b) dependent person c) mangers 2- The auditor evaluates the financial information according to GAAP b) GAAS C) FASB 3- Evidence is any document used by the auditor to determine whether the information being audited is stated in accordance with the established criterin. n) true 6 false c) none awww.. one of attestation services on information technology. a) web trust b) sys trust a and b 5-Evaluate computerized payroll system for efficiency and effectiveness is a) compliance audit (b)operational audit c) financial audit 6- Due performance care one of the @general standards b) field work standards c) report standards 7- If the auditor discovers that client change inventory method from FIFO to LIFO then his report will b qualified report. b) unqualified report c) adverse report 8- when auditor audit a portion of the financial statements for another auditor, his report will be a) unqualified b unqualified -modified words c) qualified wassaproposes..result from failure to follow generally accepted accounting principles. . @ qualified opinion b) unqualified opinion c) disclaimer opinion 10 ............... can arise only from a lack of knowledge by the auditor. a) qualified opinion b) unqualified opinion disclaimer opinion w II- .esses......... is a written and electronic Communications with outsiders Confirmation b) Observation c) Documentation 12- Nonassurance services include Accounting and bookkeeping b ) Reviews' c) Sys Trust 13- General Accepted Auditing Standards consists of a three categories b) Four categories c) Ten categories /14- Auditor believes the financial statements are not presented fairly in conformity with GAAP. So, his opinion will be Adverse b) Qualified c) Disclaimer /15- if the auditor is not independent, his opinion will be Disclaimer b) Adverse c) Qualified 16-......... means that auditor issues an incorrect opinion from a failure to follow GAAS. a) Audit failure b) Audit risk c) Business failure 4/1