MEDIUM ENGLISH Management Sciences
A Complete audit (Option A) B Completed audit (Option B) C Final audit (Option C) D Detailed audit (Option D)
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A Internal check system (Option A) B Continuous audit (Option B) C Internal audit system (Option C) D None of these (Option D)
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A Statutory audit (Option A) B Balance sheet audit (Option B) C Concurrent audit (Option C) D All of the above (Option D)
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A Shareholders (Option A) B Management (Option B) C Government (Option C) D Law (Option D)
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A By independent auditor (Option A) B Statutorily appointed auditor (Option B) C By a person appointed by the management (Option C) D By a government auditor (Option D)
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A Management fraud is more difficult to detect than employee fraud (Option A) B Internal control system reduces the possibility of occurrence of employee fraud and management fraud (Option B) C The auditor’s responsibility for detection and prevention of errors and frauds is similar. (Option C) D All statements are correct. (Option D)
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A Error of principle (Option A) B Error of commission (Option B) C Error of omission (Option C) D Error of duplication (Option D)
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A Teeming and lading (Option A) B Looping (Option B) C Embezzlement (Option C) D Hacking (Option D)
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A Performance reviews (Option A) B Physical controls (Option B) C Organizational structure (Option C) D Segregation of duties (Option D)
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A Participation of management (Option A) B Information processing (Option B) C Commitment to competence (Option C) D Human resource policies and practices (Option D)
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A The design of the internal control system and the implementation of the controls (Option A) B The design of the internal controls and the implementation of the control system (Option B) C The implementation of the controls and the correctness of the accounting records (Option C) D The design of the internal control system and the correctness of the accounting records (Option D)
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A Internal audit (Option A) B Suppliers’ statements (Option B) C Board minutes (Option C) D Analytical review (Option D)
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A Appropriateness & competence (Option A) B Sufficiency & appropriateness (Option B) C Reliability & extensiveness (Option C) D Objectivity & independence (Option D)
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A Memorandum & articles of association (Option A) B Audit planning memorandum (Option B) C Summary of unadjusted errors (Option C) D Details of the work done on the inventory count (Option D)
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A Systematic selection (Option A) B Pervasive selection (Option B) C Random selection (Option C) D Haphazard selection (Option D)
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A The risk of the auditor carrying out a test the wrong way round (Option A) B The risk of reliance on unsuitable audit evidence (Option B) C The risk that the sample does not reflect the population (Option C) D The risk of the auditor reaching the wrong conclusions from testing (Option D)
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A the timing of the audit (Option A) B whether corrections from the inventory count have been implemented (Option B) C last year’s audit (Option C) D the potential use of internal audit (Option D)
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A The timing of the audit (Option A) B Analytical review (Option B) C Last year’s written representation letter (Option C) D Obtaining written representations (Option D)
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A Compliance risk (Option A) B Detection risk (Option B) C Control risk (Option C) D Inherent risk (Option D)
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A Background i.e. industry (Option A) B Previous year’s audit i.e. any qualifications in the report (Option B) C Considering the work to be done by the client staff e.g. internal audit (Option C) D Considering whether the financial statements show a true and fair view (Option D)
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