Who among the following Can Be Appointed as Auditor of a Company *

168. An analysis of fixed assets revealed the possibility of an unregistered sale of plant and machinery. Which of the following examination procedures can be used to find out? A. Review of Property Tax Files 119. An auditor has a right of access to A at any time. Books and accounts of a company The following types of persons or organizations are excluded from appointment as auditors of an entity: 146. The statutory auditor should examine the subsequent realisation of income such as dividends, interest, commissions, etc. in order to identify A. cases of unrecognised income 52. The auditor of a public company is appointed by C&AG. His remuneration is paid by _____ A. the C & AG. shareholders.

C. shareholders at an annual general meeting. D. the Board of Directors. Answer: B 166. An auditor verifies the evaluation of the building, which was built by the client himself. Which of the following documents are least relevant to the auditor for audit purposes? A. Change of contractor (a) a company shall be considered to be a subsidiary of the holding company, even if the control referred to in points (i) or (ii) is from another subsidiary of the holding company; D. The statutory auditor shall indicate in his audit report that the branch is exempt because of the scale of the business or any other basis B.

The auditor may rely on a certificate issued by a chartered appraiser attesting to the valuation of the assets of balance sheet C. The auditor shall form an opinion on various aspects (1) For the purposes of subclause (i) of clause (d) of subsection (3) of section 141, a relative of an auditor may hold securities in the company the par value of which does not exceed rupees: 36. Is using a verification letter the best way to ensure that the examiner meets one of the following conditions? One. The statutory auditor will have sufficient and appropriate audit evidence. B. Management Letter. C. Access to all books, accounts and vouchers required for audit purposes. D. Cooperation with other auditors Answer: C (2) If a firm is appointed auditor of a company, only partners who are practising auditors are authorized by the firm to act and sign on behalf of the company. 6.

The final audit report must contain at least the following: (Select the NOT required. 169. The auditor found that there are recurring losses on the sale of fixed assets, suggesting that A. depreciation and amortization expenses are insufficient.112 Which of the following tests would not be considered an examination within the meaning of Article 224(IB)? Has. Examination of a branch of two different companies 144. The statutory auditor should justify his reservations in the audit report and try to quantify their impact. This should be done if there (i) A qualified opinion (ii) an unqualified opinion focusing on paragraph (iii) A negative opinion (iv) an exclusion of opinion A. (i) only 193.

Which of the following statements does not apply to Hogeln and Laden? One. It leads to the deliberate misappropriation of monetary income B. A cash audit is not necessary if, in the auditor`s opinion, cash flow is irrelevant. Materiality is a relative concept A. Auditor B. Client C. Internal Auditor D. Auditee 111. Mr. A, a chartered accountant, has nineteen audits, resulting from subsequent audits, which he must accept to ensure that he does not violate the provisions of Article 224(IB)__A.

Audit of a private company 143. Any deviations from accepted accounting policies are disclosed in the notes to the financial statements. The statutory auditor shall: A. Issuance of a standard audit report without reservation Where the condition of this provision may also apply to a company without share capital or other securities: 44. Which of the following evidence is less persuasive? A. Account statements received from the client B. Documents received by the auditor directly from third parties. C.

Copies of Sales Invoices Verified by the Auditor D. Auditor`s Calculations. Answer: C 162. In the case of a guarantee, the statutory auditor is least likely to review the approval by the competent authority if: – A. bad debts written off A. the client, auditor and auditor B. the client, auditor and audited agent C. the client, the moderator and the audited agent D. the client, auditor and audited agent B. The statutory auditor concludes that the balance sheet is materially erroneous, when in fact he does not. (c) the term “entity” includes a legal person; 195.

When calculating the cash balance, the auditor shall ___ A. Ensure the presence of a member of management 172. When reviewing intangible assets, an auditor would recalculate the amortization costs and determine whether the amortization period is reasonable. The listener tries to . A. Review 1. ___ is a systematic review of books and records or of a corporation. A. Verification. B. Guarantors.

C. Review. D. Revision. ANSWER: A 2. Which of the following are not review objectives? A. Determination of the result and preparation of the general account, the balance sheet. B. Fraud and error detection and prevention. C. Give a true and fair view of the financial amount. D.

To present the accounts of the Government of India. ANSWER: D 3. Which of the following is not a type of audit? A. Legal and Private Audit. B. Government and Ongoing Audit. C. Ongoing, final, provisional, cash, cost and management audit. D. None of that.

ANSWER: D 4. A review required by law ____. A. State audit.