Audit Evidence

Question 1

1. Which of the following is not one of functions of internal auditor of an organization?...

A) Performing assurance activities

B) Performing consulting activities to improve governance of organization

C) Performing risk management activities

D) Expressing independent opinion on financial statements of organization ✓

Question 2

2. An auditor finds during course of an audit that the entity has entered into many related party transactions. Which of the following statements is true?...

A) The risk that management may override controls in respect of related party trans...

B) The risk that management may override controls in respect of related party trans... ✓

C) There is no effect on the risk that management may override controls in respect ...

D) Risk of overriding of controls by management has no relationship at all with rel...

Question 3

3. Which of the following is not an objective of a company’s policies for ensuring “internal financial controls”?...

A) Efficient conduct of business

B) Safeguarding of assets

C) Prevention and detection of frauds and errors

D) Assessing audit risk ✓

Audit Evidence

Sample Questions: Auditing