The independent auditor’s primary responsibility is to______________?
The independent auditor’s primary responsibility is to______________? A. the directors B. the company’s creditors (payables) C. the company’s bank D. the holders
The independent auditor’s primary responsibility is to______________? A. the directors B. the company’s creditors (payables) C. the company’s bank D. the holders
Assuming that it is not the first appointment of the auditor, who is responsible for the appointment of the auditor? A. The holders in a general meeting B. The managing director C. The board of directors in a board meeting…
Which one of the following is NOT a duty of the auditor? A. Duty to report to the company’s bankers B. Duty to report to the members C. Duty to sign the audit report D. Duty to report on any…
When an auditor is proposed for removal from office, which one of the following is he NOT permitted to do? A. Circulate representations to members B. Apply to the court to have the proposal removed C. Speak at the AGM/EGM…
A sale of Rs. 50.000 to A was entered as a sale to B. This is an example of____________? A. Error of omission B. Error of commission C. Compensating error D. Error of principle
Which of the following is not true about oion on financial statements? A. The auditor should express an oion on financial statements. B. His oion is no guarantee to future viability of business C. He is responsible for detection and…
International auditing standards are issued by the______________? A. International Accounting Standards BoardB. International Federation of Accountants C. International Standards Board D. Auditing Practices Board
Which of the following is NOT the responsibility of a company’s directors? A. Reporting to the holders on the accuracy of the accounts B. Establishment of internal controls C. Keeg proper accounting records D. Supplying information and explanations to the…
Why do auditors concentrate their efforts on material items in accounts? A. Because they are easier to audit B. Because it reduces the audit time C. Because the risk to the accounts of their being incorrectly stated is greater D.…
The concept of stewardship means that a company’s directors________________? A. Are responsible for ensuring that the company complies with the law B. Are responsible for ensuring that the company pays its tax by the due date C. Safeguard the company’s…