Inter PN-10 CAA Quiz 9

1. The          shall act as the secretary of the Audit Committee.

2. Check list contains the instruction to be followed by the –

3. The function of internal audit is meant for-

4. An auditor is required to retain the books of accounts for how long?

5. Permanent Audit File does not contain

6. A Cost Auditor submits his report to

7. In case of a company other than a Government Company, any casual vacancy in the post of auditor is to be filled by the

8. While conducting audit of financial statement auditor need to comply with

9. Statutory Auditor can be removed by the

10. Review of internal control system is very important for the auditor as the effectives of internal control system will determine the extent of checking to be done by the:

11. As per SQC 1, Audit working papers should be retained for a period of

12. Unpaid dividend standing at the credit of Unpaid Dividend A/C should be transferred to Investor Education and Protection Fund after         years of its remaining unpaid.

13. Current Audit file contains-

14. Form for maintenance of Cost Records by the Company is                 .

15. Various types of quality audits are:

16. Statutory Auditor is appointed by the shareholder in the

17. The          is also expected to provide the resources needed and select staff members to accompany the auditors.

18. Final Audit is known as           .

19. Proving the truth means vouching of       .

20. The most comprehensive type of audit is the     system audit, which examines suitability and effectiveness of the system as a whole.

21. The purpose of internal audit is to determine liabilities of;

22. CAAT stands for-

23. Maximum term of Individual Auditor

24. If the Debentures are issued as collateral security either to Banks or Creditors the Auditor needs to ensure that such issue is approved by

25. The first Auditor of a Company shall be appointed by the Board of Directors within