Page 68 - CA Inter MCQ Book

CA RAVI TAORI CA INTER AUDIT MCQs

CARO.5 N23M
For which of following company, provisions of CARO,2020 would be applicable?
a) Boost Up Training (OPC) Private Limited
b) RCI Bank Limited
c) PST Industries Limited
d) Moon Insurance Limited

CARO.6 N23M
While reporting under CARO, 2020, it is duty of statutory auditor of company to report: -
a) Fraud of less than ₹ 1 crore committed by officers or employees of company during the year
b) Fraud of ₹ 1 crore or more committed by officers or employees of company during the year
c) Fraud of ₹ 5 crore or more committed by officers or employees of company during the year
d) Any fraud by the company or on the company noticed or reported during the year

Part 8 - Branch Accounts & SA 600

No Individual MCQ

Part 9 - SA 299

299.1 N19M
Which of the following is not an advantage Joint Audit:

a) Sharing of expertise.
b) General superiority complexes of some auditors.
c) Lower workload.
d) Displacement of the auditor of the company taken over in a take - over often obviated.

299.2 N21R
To jointly audit books of accounts of WZ Limited for the financial year 2020-21 two different firms
of Chartered Accountants namely MH and Associates and NR and Associates were appointed. MH
and Associates and NR and Associates can together be called as:
a) Principal Auditors of WZ Limited.
b) Branch Auditors of WZ Limited.
c) Individual Auditors of WZ Limited.
d) Joint Auditors of WZ Limited.

299.3 M21M
Which of the following is correct, in case of joint audit, where there is disagreement with regard to

the opinion or any matters to be covered by the audit report.
a) The auditors shall express their opinion in separate audit report.
b) The audit report(s) issued by the joint auditor(s) shall make a reference to each other’s audit
report(s).
c) Both (a) and (b) are correct
d) The auditor who is having a separate opinion is bound by the opinion of the majority of the
auditors and needs to issue a common audit report.

299.4 M22M
. ________ sets the scope, timing & direction of the audit and guides the development of the more

detailed plan.
a) Audit Programme
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