come'on mates specially toppers kindly answer these. so that we can tally our answers

soo easy paper

jis kay pass background knowledge hoga wohi larka easily pass kar saktha tha

As per my knowledge following are some answers

batch 2 senior auditor was vry difficult all paper change with respect to first batch

Kindly share questions

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19. What are analytical procedures?

a) Substantive tests designed to assess control risk
b) Substantive tests designed to evaluate the validity of management’s representation letter
c) Substantive tests designed to study relationships between financial and non*financial
d) All of the above

2. Concurrent audit is a part of
a) Internal check system
b) Continuous audit
c) Internal audit system
d) None

25. THE PRIMARY PURPOSE OF ESTABLISHING QUALITY CONTROL POLICIES AND PROCEDURES FOR DECIDING ON CLIENT EVALUATION IS TO

A) ENSURE ADHERENCE TO GENERAL Y ACCEPTED AUDITING STANDARDS
B) ACCEPTANCE OR RETENTION OF CLIENTS WHOSE MANAGEMENT DOES NOT LACK INTEGRITY
C) ENSURE AUDIT FEES IS CHARGED ACCORDING TO THE TYPE OF AUDIT WORK ASSIGNED
D) ALL OF THE ABOVE

1. THE MAIN OBJECT OF AN AUDIT IS ___


A) EXPRESSION OF OPINION
B) DETECTION AND PREVENTION OF FRAUD AND ERROR
C) BOTH (A) AND (B)
D) DEPENDS ON THE TYPE OF AUDIT

11. THE RISK OF MANAGEMENT FRAUD INCREASES IN THE PRESENCE OF:


A) FREQUENT CHANGES IN SUPPLIES
B) IMPROVED INTERNAL CONTROL SYSTEM
C) SUBSTANTIAL INCREASES IN SALES
D) MANAGEMENT INCENTIVE SYSTEM BASED ON SALES DONE IN A QUARTER

10. IN ORDER TO VOUCH, WHICH OF THE EXPENSES, THE AUDITOR WILL EXAMINE BILL OF ENTRY?

A) CUSTOM
B) EXCISE DUTIES
C) SALES TAX
D) INCOME TAX

4. FOR VOUCHING OF WHICH ITEM, THE AUDITOR IS MOST LIKELY TO EXAMINE COST RECORDS?

A) COMMISSION EARNED
B) BAD DEBTS RECORDED
C) CREDIT SALES
D) SALE OF SCRAP

18.WHEN COUNTING CASH ON HAND THE AUDITOR SHOULD ___

A) ENSURE PRESENCE OF SOMEBODY FROM MANAGEMENT
B) OBTAIN A RECEIPT FROM CUSTODIAN AS TO ITS RETURN
C) ENSURE POSTAGE AND REVENUE STAMPS ARE NOT COUNTED IN PHYSICAL COUNT
D) TEMPORARY ADVANCES TO EMPLOYEES ARE COUNTED TO CALCULATE BALANCE OF CASH IN HAND


2. WHICH OF THE FOLLOWING SECTIONS DEAL WITH QUALIFICATIONS OF THE AUDITOR ?

A) SECTION 226 (1) AND SECTION 226(2)
B) SECTION 224 (1) AND SECTION 224 (2)
C) SECTION 226 (3) AND SECTION 226(4)
D) SECTION 224(3) & SEC.224



again fpsc have copy pasted questions. hard luck, didnt bother to search mcqs on websites.brother kindly answer these questions

Anyone can share batch-2 questions

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