Page 54 - CA Inter MCQ Book

CA RAVI TAORI CA INTER AUDIT MCQs

b) unless otherwise specified by law or regulation, audit documentation is the property of those
charged with governance.
c) unless otherwise specified by law or regulation, audit documentation is the property of the
management or those charged with governance.
d) unless otherwise specified by law or regulation, audit documentation is the property of the
auditor.

230.20 SM21
___________may be defined as one or more folders or other storage media, in physical or electronic
form, containing the records that comprise the audit documentation for a specific engagement.

a) Audit File
b) Audit evidence

c) Completion Memorandum
d) Audit Folder

230.21 SM21/M23M
CA Vijay is the statutory auditor of XYZ Ltd. for the FY 2020-21. During the process of assembling
the audit file, CA Vijay briefed his team as to what all changes can be made to the audit
documentation at that stage. Which of the following changes cannot be made to the audit
documentation during the final assembly process?

a) Sorting, collating & cross referencing of working papers.
b) Signing off completion checklists relating to the file assembly process.
c) Deleting or discarding superseded documents.
d) Recalculation of Depreciation.

230.22 M21M
As per SQC 1 the retention period for audit engagements ordinarily is no shorter than …………. from
the date of the auditor’s report.

a) ten years
b) five years
c) seven years
d) four years

230.23 M22R
_____requires firms to establish policies and procedures for the retention of________. The
retention period for audit engagements ordinarily is no shorter than ______from the date of the
auditor’s report, or, if later, the date of the group auditor’s report
a) SA 220, audit evidence, six years
b) SA 200, audit documentation, seven years
c) SQC 1, engagement documentation, seven years
d) SA 230, documentation, six years

230.24 M22M
Judging the significance of a matter requires _____of the facts and circumstances.
a) objective analysis
b) subjective analysis
c) Both subjective and objective analysis
d) qualitative analysis

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