Audit Techniques
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 Documentation and Audit Evidence Question 1.Define audit documentation. Also give some examples.OrWrite short note on: Audit working papers Answer:Audit documentation:SA 230 “Audit Documentation” defines the term as “Record of audit procedures performed, relevant audit evidence obtained and the conclusions the auditor reached”. Examples of audit documentation:Audit documentation may be recorded on paper or on electronic […]