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: Independent audit enhances
A) Tax avoidance
B) Customer retention
C) Financial transparency
D) Management authority
Q: Qualified audit report reflects
A) Major fraud
B) Full compliance
C) Partial non-compliance
D) No evidence
Q: Audit documentation must be retained for
A) One year
B) Six months
C) Seven years
D) Until payment is made
Q: Risk of material misstatement is minimized by
A) Legal action
B) Internal audit
C) Professional skepticism
D) Auditor independence
Q: Physical verification of inventory includes
A) Comparing books
B) Confirming suppliers
C) Reading invoices
D) Counting stock