Standards on Auditing – Test 3

In pursuing its quality control objectives with respect to independence, an auditing firm may use
policies and procedures such as

Policies and procedures w.r.t human resources address which of the following issues

Throughout the audit engagement, the engagement partner shall remain alert for evidence of noncompliance
with relevant ethical requirements by engagement team through

As per SQC-1, the firms system of quality control should include policies and procedures addressing
which of the following element

The engagement quality control reviewer shall perform an object evaluation of the significant
judgments made by the engagement team, and the conclusions reached in formulating the auditor’s
report. This evaluation shall involve

Duties of Engagement Quality Control Reviewer

Which of the following is not function of engagement partner

The firm should establish policies and procedures designed to provide it with reasonable assurance
that the policies and procedures relating to the system of quality control are relevant, adequate,
operating effectively and complied with in practice, which refers to

_________________ refers to the record of audit procedures performed, relevant audit evidence obtained,
and conclusions the auditor reached

_________________ may be defined as one or more folders or other storage media, in physical or
electronic form, containing the records that comprise the audit documentation for a specific
engagement.

As per SQC-1 “An appropriate time limit within which to complete the assemble of the final audit file
is ordinarily not more than _______________ days after the date of auditor’s report

As per SQC-1, auditor should retain audit documentation for at least _______________ years

Which of the following factors may affect the form, content and extent of audit documentation

Audit documentation can be made by auditor:

Who is the owner of audit working papers?

Additional numbers of purposes served by audit documentation are:

If in exceptional circumstances the auditor departs from Standards on Auditing, he shall
_______________

Which of the following is not content of permanent audit file:

Loan agreement are the integral parts of

Working on trial balance is the part of

Pick the odd one

From the initial client interview to the preparation of audit report an auditor must keep a record of
all the work you do in

Which of the following is not true of working papers?

The audit working papers should contain information on planning the audit work, the nature,
timing and extent of audit procedures performed, ___________________________ and the conclusion drawn
leading to an opinion.

The extent of what is included in working paper is

Which of the following factors would least likely affect the quantity and content of an auditor’s
working papers

A current audit file would always contain which of following?

Which of the following SAs deals with auditor’s responsibilities w.r.t audit documentation

Audit documentation may be useful for

After assembly of audit file, the auditor __________________