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Audit Paper MBA EXE
Audit Paper MBA EXE
Instructor: Mr.
Max Marks:
Roll #
10
Total
____________
Section A
Objective
Multiple Choice Questions:
1. Which of the following is not one of the Five elements of an assurance engagement:
a) A written report in an appropriate form b) Suitable Criteria c) Three Party relationship d)
Sufficient, Appropriate Evidence
2. Which of the following is NOT one of the types of Assurance report:
a)
Positive Assurance b) Neutral Assurance c) Negative Assurance
3. Choose whether the following statement is true or false:
Assurance Engagement can relate only to financial Measures and results
a) True
b) False
4. Which of the following is the correct definition of Corporate Governance:
a) System by which companies are directed and controlled b) Part of the board is made
up of NEDs c) System by which Board of Directors are managed and controlled.
5. Which of the following is NOT one of the Fundamental ethical principle
a) Professional Behavior b) Objectivity c) Professional competence and due care d)
Honesty
6. Which of the following are threats to Independence and Objectivity as set out in
ethical code:
1) Self awareness
7.
a)
8.
a)
2) Self Interest
3) Familiarity
4) Self Review
statement
9. Materiality depends on
a) Only the size of error b) the size (quantitative factors) and type of errors (qualitative
errors)
10. Disclaimer of opinion is
a) When the auditor has sufficient and appropriate audit evidence
not have the sufficient and appropriate audit evidence
restricted.
Class:
5th Semester [MBA (Executive)]
2016
Subject:
Audit
Mr. Hassan Ali
Term:
Mid Term
Name:
_____________________
Section B
Short questions
I)
Define Materiality?
II)
(4*2)
Date: 24-04Instructor:
Max Marks:
15
Total Time Allowed: 45 min
Roll # ____________
IV)
Marks: 7