CA Intermediate Paper 5

Auditing & Ethics (MTP & RTP Questions)

23 Questions from ICAI Mock Test Papers

Questions

23

Est. Time

46 min

Source

ICAI MTPs

Sample Questions: Auditing

Preview 3 of 23 questions from ICAI MTPs

1. Jin Kushal & Associates has 4 clients operating in different industries. Mr. Sumit, an articled assistant, suggested that one single audit programme can be developed for all 4 clients. Is his view cor...

A) Yes, developing one audit programme for all clients will avoid duplication of ef...
B) No, all four clients operate in different industries and evolving one audit prog... ✓
C) Yes, development of audit programme is not affected by the nature of client busi...
D) No, development of audit programme is not the responsibility of the audit team -...

2. For Saraswati Ltd., a labour-intensive company, CA Reshu was asked to compare wages paid in the current year and last year, and verify the relationship between number of employees and wages paid. Iden...

A) Substantive Analytical Procedures ✓
B) Test of details
C) Test of transactions
D) Test of Controls

3. Mr. Saurabh believes that Special Resolution is required for both issue of sweat equity shares and reduction of share capital under Companies Act 2013. Is his understanding correct?...

A) Partly correct - ordinary resolution for sweat equity, special resolution for re...
B) Partly correct - special resolution for sweat equity, ordinary resolution for re...
C) Correct - special resolution is required for both sweat equity shares and reduct... ✓
D) Not correct - ordinary resolution is required for both