Auditing MCQs
Auditing MCQs cover audits, controls, standards, planning, procedures, risks, and reporting—ideal for ACCA, CA, ICMA, B.Com, MBA, and finance exams, ensuring conceptual clarity and practical application for academic and professional success.
Q: Responsibility for audit fees lies with
A) Client
B) Government
C) Supplier
D) Auditor
✅ Correct Answer: A
Explanation: Audit clients are responsible for agreeing and paying professional fees to auditors.
Q: Follow-up audits are conducted to
A) Review past year
B) Monitor correction of issues
C) Increase revenue
D) Issue reports again
✅ Correct Answer: B
Explanation: These audits ensure previous recommendations have been implemented.