Auditing MCQs with Answers

Welcome to the Auditing MCQs with Answers. In this post, we have shared a Test Preparation for Auditing Online Test for different competitive exams. Find practice questions with answers of the Auditing test online multiple choice questions with answers here. Each question offers a chance to enhance your knowledge regarding Auditing.

Auditing is the process of evaluating and examining financial records, transactions, processes, or systems of an organization to ensure accuracy, compliance, and transparency. Auditing is typically performed by independent professionals known as auditors who are trained to review financial statements, accounting practices, internal controls, and other relevant information.

Auditing MCQs with Answers Quiz

By presenting 3 options to choose from, Auditing Quiz which cover a wide range of topics and levels of difficulty, making them adaptable to various learning objectives and preferences. Whether you’re a student looking to reinforce your understanding our Student MCQs Online Quiz platform has something for you.

  • Test Name: Auditing Online Test
  • Type: MCQ’s
  • Total Questions: 40
  • Total Marks: 40
  • Time: 40 minutes

Note: Questions will be shuffled each time you start the test. Any question you have not answered will be marked incorrect. Once you are finished, click the View Results button.

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Auditing MCQs

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1 / 40

What is the primary purpose of an audit?

2 / 40

What is the primary responsibility of external auditors?

3 / 40

Which type of audit is conducted to investigate suspected fraud?

4 / 40

Which of the following is not a characteristic of audit risk?

5 / 40

Which auditing standard addresses fraud and error?

6 / 40

Which auditing standard governs the audit of internal controls over financial reporting?

7 / 40

Which auditing standard addresses audit planning?

8 / 40

What is the purpose of substantive procedures in auditing?

9 / 40

What is the primary purpose of internal audit?

10 / 40

What is the main focus of compliance audits?

11 / 40

Which of the following is not a type of audit evidence?

12 / 40

Which type of audit is focused on evaluating operational efficiency?

13 / 40

What is the main focus of an internal audit?

14 / 40

Which type of audit focuses on verifying compliance with laws and regulations?

15 / 40

Which assertion deals with whether transactions are recorded in the correct accounting period?

16 / 40

Which assertion deals with whether all transactions and accounts that should be presented in the financial statements are included?

17 / 40

Which of the following is not a phase of a financial statement audit?

18 / 40

Which of the following is a component of the audit risk model?

19 / 40

What is the purpose of an audit program?

20 / 40

Which auditing standard governs audit documentation?

21 / 40

What is the main focus of a financial statement audit?

22 / 40

Who typically sets the auditing standards in a country?

23 / 40

Which of the following is not a phase of an audit engagement?

24 / 40

Which auditing standard deals with communication of audit matters with those charged with governance?

25 / 40

Which auditing standard addresses the auditor's responsibility to identify and assess the risks of material misstatement?

26 / 40

What is the role of an auditor in detecting fraud?

27 / 40

Which assertion deals with whether all assets, liabilities, and equity interests exist?

28 / 40

What is the role of an auditor in assessing internal controls?

29 / 40

Which of the following is not a type of audit opinion?

30 / 40

Which assertion deals with whether all transactions and accounts are correctly valued?

31 / 40

What is the main objective of an external audit?

32 / 40

What is the purpose of a test of controls?

33 / 40

Which auditing standard addresses the auditor's responsibility to consider fraud in an audit?

34 / 40

What is the purpose of an external audit?

35 / 40

What is the main purpose of sampling in auditing?

36 / 40

Which of the following is an inherent limitation of auditing?

37 / 40

What is the main objective of an operational audit?

38 / 40

Which of the following is a component of internal control?

39 / 40

What is the purpose of analytical procedures in auditing?

40 / 40

Which type of audit is conducted by an entity's internal staff?

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