Page 55 - CA Inter MCQ Book

CA RAVI TAORI CA INTER AUDIT MCQs

230.25 M23M
The auditor may consider it helpful to prepare and retain as part of the audit documentation a
summary (sometimes known as a completion memorandum) that describes-

a) evidence identified during the audit
b) the significant matters identified during the audit and how they were addressed
c) the significant evidence identified during the audit
d) the significant matters identified during the audit

230.26 N23M
A company has started its manufacturing operations from a newly constructed building. CA Z is
statutory auditor of company. Which of following is not likely to be an example of audit
documentation?
a) E-mail correspondence with CFO of company concerning significant matters
b) Audit programme.
c) Response to external confirmation requests
d) Structural engineer’s report on strength of building

230.27 SM23
Which of the following statement is appropriately suited to preparation of audit documentation?
a) Audit documentation has to be prepared simultaneously as audit progresses.
b) Audit documentation has to be prepared 60 days after date of audit report.
c) Audit documentation has to be prepared when information is required by regulator.
d) Audit documentation has to be prepared 60 days after completion of audit work.

230.28 SM23
Audit documentation is owned by: -
a) Client
b) Auditor
c) Team member responsible for documentation
d) Regulator

230.29 SM23
Which of the following is least likely to be included in audit documentation of a company engaged
in manufacturing and export of goods?
a) Previous years audited financial statements.

b) Projected cash flow statement for next twelve months provided by management in support of
going concern assumption.
c) Statements showing dispatch of overseas consignments in accordance with delivery schedules
of overseas buyers.
d) Statement showing verification of ageing of trade receivables as on date of balance sheet

230.30 N23M
Which of the following is not a likely purpose of audit documentation?
a) It helps to show that audit was conducted in accordance with requirements of SQC 1.
b) It serves as a record of matters of continuing significance to future audits.
c) It assists engagement team to plan and perform the audit.
d) It can directly help auditor in expanding client base.

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