Auditing MCQs
Auditing MCQs cover audits, controls, standards, planning, procedures, risks, and reportingβideal for ACCA, CA, ICMA, B.Com, MBA, and finance exams, ensuring conceptual clarity and practical application for academic and professional success.
Q: Third-party confirmations help verify
A) Cash flow
B) Balances and agreements
C) Company policies
D) Employee details
Q: Substantive procedures are intended to detect
A) Material misstatements
B) Control weaknesses
C) Non-compliance
D) Policy gaps
Q: Audit evidence must be
A) Oral only
B) Reliable and sufficient
C) Hard copy
D) Given by client
Q: Management representation letter is obtained to
A) Avoid legal action
B) Disclose tax payments
C) Confirm audit fees
D) Acknowledge responsibilities
Q: Going concern assumption is verified to assess
A) Business continuity
B) Tax compliance
C) Profitability
D) Legal standing