Please choose the right answer

5. Following cannot be done by a professional accountant in public practice or a firm of professional accountants while fixing fee: a) Low balling b) Taking contingent fee c) Commission d) All of the above

6. Ms. Shaila, a professional accountant took a loan from Mr Qadeer, one of the directors in Down Chemical Company (DCC). During the year 2020 she was offered the audit of DCC. What kind of threat exists in this case? a) No threat b) Intimidation threat c) Self-interest threat d) Advocacy threat 7. Mr Brian, who did audit of Sharwood Company joined them as an employee right after giving them an unqualified audit assurance report. What kind of threat exists in this case? a) No threat b) Intimidation threat c) Self-interest threat d) Advocacy threat 8. Ms Himani owns a toy company, Fun Toys. Her son Mr Peacock is a professional accountant. For assurance audit of year 2020, she requests Mr Peacock for carrying out the audit. What kind of threat exists in this case? a) No threat b) Intimidation threat c) Self-interest threat d) Advocacy threat

9-M/s Xyz, a firm of professional accountants published the following advertisement:

Best auditing firm in Erbil promises you complete audit process within a week giving unqualified results.

In your opinion what is the issue with this advertisement? a) Exaggerated claims b) Unethical promises c) All of the above d) None of the above

10. Which of the following is part of audit process: a) Audit Evidence and testing b) Audit planning c) Audit report d) All of the above

11-The last step in audit process is: a) Client acceptance b) Test for evidence c) Completion and report d) Audit Planning