Audit Procedures

Audit of Banks – CA Inter Audit MCQ Question 1.Regulating body in case of banks is:(a) SEBI(b) IRDA(c) RBI(d) ICAIAnswer:(c) RBI   Question 2.Long Form Audit report is to be submitted by:(a) 30th April every year(b) 30th June every year(c) 30th Sep. every year(d) None of the aboveAnswer:(b) 30th June every year Question 3.The matters […]

Audit of Items of Financial Statements – CA Inter Audit MCQ Question 1.Which assertion is common among income statement and balance sheet captions:(a) Existence(b) Valuation(c) Completeness(d) MeasurementAnswer:(c) Completeness Question 2.Direct confirmation procedures are performed during audit of trade receivable balances to address the following balance sheet assertion:(a) Measurement(b) Existence(c) Rights and Obligations(d) CompletenessAnswer:(b) Existence Question […]

Audit Strategy, Audit Planning and Audit Programme Question 1.“The auditor should plan his work to enable him to conduct an effective audit in an efficient and timely manner. Plans should be based on knowledge of the client’s business” Discuss stating clearly the broad points you would be covering in framing plan to conduct audit in […]