Question1.

The responsibility to act in accordance with the requirements of an assignment, carefully, thoroughly and on a timely basis in known as diligence and forms part of fundamental code of objectivity. Answer is true or false.

Question 2.

Opinions formed by the auditor on the fair presentation of financial statements must be performed by making use of criteria that can help to reach a judgement as to whether or not the statements are presented fairly in an organisation.

Answer is true or False

Question 3.

When conducting an audit, the auditor should not be convinced of any truths until he/ She has found suitable evidence to support the facts that are provided.

Answer is True or False.

Question 4.

A financial or other interest influences the behaviour or judgement of a chartered accountant or auditor which results in him acting in the best interest of himself rather than his client is considered an imperative threat.

Answer is True or False

Question 5.

The accountant or auditor is not required to express any opinions or form any conclusions based on the subject matter of a specific engagement in all type of engagements.

Answer is True or False

Question 6.

An audit engagement is conducted for the purpose of providing a reasonable assurance to management with regard to the effectiveness and reliability of financial statements and business operations.

Answer is True or False

Question 7.

Absolute assurance is achieved when the auditor performs fewer test and uses sample sizes that are smaller in comparison to those used for reasonable assurance.

Answer is True or False

Question 8.

One of the characteristics which defines a non-assurance engagement is based on the fact that the accountant or auditor will be required express their opinions and form conclusions which are based on the subject matter of a specific engagement.

Answer is True or False