1191. Auditor should be dutiful like a :
A. A watch dog *
B. A blood hound
C. A detective
D. An insurer
1192. An audit report is addressed to :
A. Chairman of the board of directors
B. Chief executive of the company
C. Board of directors
D. Members *
1193. The date of the auditor’s report should be :
A. The date immediately after completion of examination
B. After approval of financial statements by the bord of directors *
C. After approval of accounts by the shareholders
D. None of the above
1194. If detection risk cannot be reduced to an acceptable level, auditor should :
A. Quality or disclaim his opinion *
B. With draw from the engagement
C. Do Either A an B
D. None of the above
1195. Auditor’s report is signed by :
A. One director
B. Two directors
C. Directors and Chief executive
D. None of the above
1196. Which of the following terms represents the form of qualification arising from limitation of scope which the auditor considers to be of fundamental importance ?
A. Disclaimer of opinions *
B. Unqualified opinion
C. Except for opinion
D. Subject to opinion
1197. Which of the following is not a necessary component of the audit report for a limited company ?
A. The identify of the auditor
B. A declaration stating that the auditor has adhered to international auditing standards *
C. Terms of engagement
D. Identification of the financial statements audited
1198. When annual general meeting of a listed company is held ?
A. The auditor is entitled to attend
B. The auditor must personally attend the AGM.
C. The auditor or someone else he has authorized in writing must attend the AGM *
D. None of the above
1199. During the course of audit , and auditor finds that fictitious sales have been undertaken to inflate profits. whether he should.
A. Ignore it
B. Allow it
C. Qualify his report for it *
D. none of the above
1200. During the course of a company audit an auditor finds that its machinery has been shown at 40000 $ after charging depreciation , though its market value is only 20000 $ whether he should.
A. Ignore it
B. Allow it *
C. Not allow it
D. Qualify his report