If Inherent Risk is 40%, Control Risk is 50%
and Acceptable Audit Risk is 5%, What should
be maximum Detection Risk?
and Acceptable Audit Risk is 5%, What should
be maximum Detection Risk?
Anonymous Quiz
20%
20%
41%
25%
10%
2%
29%
10%
Which from the following are the indicators
of possible management bias while making an
accounting estimate?
of possible management bias while making an
accounting estimate?
Anonymous Quiz
11%
Change in estimate without change incircumstances.
7%
Change in estimate which are inconsistentwith marketplace assumption.
3%
Change showing pattern of optimism orpessimism.
80%
All of the above
A co-operative society can contribute towards
charitable purpose. However, such contribution
shall not exceed ______of profit after transfer to reserve fund.
charitable purpose. However, such contribution
shall not exceed ______of profit after transfer to reserve fund.
Anonymous Quiz
35%
15 %
19%
20 %
19%
25 %
27%
10 %
As per SA 570, Legal proceeding is an example
of:
of:
Anonymous Quiz
26%
Financial Indicator.
26%
Operating Indicator.
43%
Other Indicator.
5%
None of the above.
Identify to which of the following option the
respective statements belong to?
1. Series of instructions and/or questions which a member of the auditing staff must follow and/or answer 2. Answers to the instructions are usually Yes, No or Not Applicable.
respective statements belong to?
1. Series of instructions and/or questions which a member of the auditing staff must follow and/or answer 2. Answers to the instructions are usually Yes, No or Not Applicable.
Anonymous Quiz
6%
Narrative record
6%
Flow chart
40%
Check List
48%
Questionnaire
Financial statements adopted in the adjourned
annual general meeting shall be filed with the
Registrar within __________ of the date of such adjourned annual general meeting`
annual general meeting shall be filed with the
Registrar within __________ of the date of such adjourned annual general meeting`
Anonymous Quiz
28%
fifteen days
63%
thirty days
2%
ten days
7%
sixty days
This method involves the selection of a fixed
number of consecutive items.
number of consecutive items.
Anonymous Quiz
11%
Random Sampling
19%
Cluster Sampling
38%
Block Sampling
32%
Interval Sampling
Identify the assertion affected in the following
statements:
Auditor is required to check whether the assets or liability are at appropriate amounts.
statements:
Auditor is required to check whether the assets or liability are at appropriate amounts.
Anonymous Quiz
79%
Valuation
10%
Existence
2%
Occurrence
9%
Completeness
An auditor determines higher level of
materiality for a particular area, however the
article assistant instead of being informed about the higher level of materiality performed detailed audit procedures. What will be its effect on detection risk?
materiality for a particular area, however the
article assistant instead of being informed about the higher level of materiality performed detailed audit procedures. What will be its effect on detection risk?
Anonymous Quiz
60%
Detection risk will be decrease
25%
Detection risk will be increase
14%
No impact on detection risk
1%
None of the above
As per SA 710, _________are amounts anddisclosures which are of one or more prior periodand are included in financial statement inaccordance with applicable financial reportingframework.
Anonymous Quiz
28%
prior period items
49%
comparative Information
21%
both of the above
2%
none of the above
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Statutory auditor can use direct assistance
from internal auditor with respect to work
which is:
from internal auditor with respect to work
which is:
Anonymous Quiz
17%
Complex in nature
17%
Requires significant judgements
21%
Risk of material misstatement is high
44%
None of the above
Relate the statement to the respective opinion:
"Not able to express opinion"
"Not able to express opinion"
Anonymous Quiz
82%
Disclaimer of opinion
7%
Qualified opinion
7%
Adverse opinion
4%
Unmodified opinion
Important Announcement !!!
Hello everyone, please don't solve or be worried about MCQ 6, 9 & 10 of CA Final Audit ICAI MTP Old & New Course of Oct 20. Their answers may be incorrect, we have communicated our concern about these MCQs to BOS ICAI. They may rectify or clarify about it soon. We will cover all these issues in our Live MTP discussion scheduled on 15th Oct 8 pm, join with this link https://youtu.be/u6lHSAxZLpw
Hello everyone, please don't solve or be worried about MCQ 6, 9 & 10 of CA Final Audit ICAI MTP Old & New Course of Oct 20. Their answers may be incorrect, we have communicated our concern about these MCQs to BOS ICAI. They may rectify or clarify about it soon. We will cover all these issues in our Live MTP discussion scheduled on 15th Oct 8 pm, join with this link https://youtu.be/u6lHSAxZLpw
_____________means evaluations of financial information through analysis of plausible
relationships among both financial and nonfinancial
data.
relationships among both financial and nonfinancial
data.
Anonymous Quiz
12%
Risk assessment procedure
5%
Comparison
82%
Analytical procedure
2%
Test checking
As per SA 570, Adverse financial ratio's is a:
Anonymous Quiz
82%
Financial Indicator
12%
Operating Indicator
3%
Other Indicator
2%
None of the above