Concept of auditing – Test 1

The term ‘Audit’ originated from latin word –

The term ‘audit’ originated from the latin word “audire” which means to-

Audit is performed to ascertain the ….. of  information

A.Validity

B.Reliability

Which of the following is the main function of auditing?

Accounts maintenance is the function of –

The objective of an audit of financial statement is to enable an auditor to …. on financial statements

The main object of an audit is –

Auditor has to give its opinion whether the financial statement depicts-

Which of the following statement is correct?

An audit seeks to provide …. that the financial statements are free from material error

Audit deals with –

The audit can be …. only when the accounting …..

Auditing is a systematic examination of accounts by –

Time, extent and nature of audit depend upon effectiveness of –

Time, extent and ……. of audit depend upon effectiveness of internal control

Auditing may be done on … examination of accounts

Maintenance of accounts is the function of auditing

Auditor has to report that accounts have been prepared as per –

Auditing can be defined as an independent examination of records whether…. maintained by the entity to express an opinion whether they comply with applicable laws and regulations

Which of the following is/are principal function of audit?

Which of the following is/are principal function of audit?

Which of the following is/are not principal function of audit?

It is the …… of the auditor to physically inspect the assets and their recording in the books of account and verify the legal and official documents

Auditor has to ensure that all the statutory requirements has been complied by the entity like provisions of –

The auditor has to report to the …. for conducting audit whether the financial statements reveals true and fair view of the state of affairs and of the profit or loss earned during the period by the organization