1091. The classes of audit are :

A. Final audit
B. Continuous audit
C. Interim audit
D. All of the above *

1092. The main objective of an audit is to :

A. Examine the books of accounts
B. Make your decision regarding the financial statement*
C. Report to the shareholder
D. Investigate the books of accounts

1093. Which of the following statements accurately explains the primary objective of an external audit of a Pakistani business?

A. To highlight internal control system flaws
B. To assist management in the preparation of the enterprise’s periodic financial statements
C. To examine and express and opinion on the enterprise’s periodic financial statements *
D. To help management keep the company’s accounting records up to date.

1094. To which on of the following does the auditor formally report when conducting his annual audit in accordance with companies ordinance 1984?

A. The directors
B. Regulatory bodies
C. The shareholders /Members *
D. The secretary

1095. Interim audit lies between :

A. Final audit and continuous audit *
B. Between statutory audit and continuous audit
C. Both
D. None of the above

1096. Depth tests are also called :

A. Substantive test
B. Compliance test
C. Cradle to glave test *
D. None of the above

1097. Objective of depth test are :

A. To test the accuracy of the record of the client’s accounting system
B. To perform Compliance test
C. In order to provide substantial evidence
D. All of the above *

1098. Audits starts where :

A. Accountancy’s work ends *
B. Book keeping ends
C. None of the above
D. All of the above

1099. A final Audit is also called :

A. Interim Audit
B. Complete Audit *
C. Statutory Audit
D. None of the above

1100. A final audit is started :

A. After the close of the accounting years *
B. Following the completion of the bookkeeping work
C. Both
D. None of the above