One-Liner MCQs

Auditing One-liner

Audit performed after the year-end helps determine financial accuracy — Final audit
Opinion expressed without any reservations is known as — Unqualified
Verification of cash, assets, and liabilities forms part of — Auditing
Person legally appointed to express an opinion on books of accounts — Auditor
Clean audit report without any modifications indicates — Satisfactory records
Records examined by auditors to support their conclusions — Working papers
Audit undertaken voluntarily by an organization is termed — Voluntary audit
Review conducted to assess the efficiency of internal controls — Internal audit
Opinion withheld by auditor due to lack of evidence is — Disclaimer
Audit work performed continuously during the year — Continuous audit

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