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AUDITING Final Exam Paper
AUDITING Final Exam Paper
BREAKDOWN:
Particulars Marks Obtained Remarks
Class Participation
Mid-Term Examination
Final Examination
Total
ATTESTATION:
Lecturer’s Signature ………………………………….
Invigilators:
(a) Signature..................................................................
(b) Signature …………………………………….……
2. These are independent professional services that improve the quality of information for decision-making.
a) Management consultancy
b) Audit services
c) Assurance services
d) Attestation services
3. The degree of certainty that the practitioner has attained and wishes to convey is:a.
a) Conveyance.
b) An assertion.
c) A declaration.
d) An assurance.
2. Advantages of Audit Sampling are expensive, time consuming and less practical.
TRUE
FALSE
3. The auditor should select sample in such a way that all items in population have an opportunity of being selected
TRUE
FALSE
Short Questions:
Explain briefly below not more than TWENTY words, each consist 5 Marks.
3. A manufacturing company wants to hire external auditors who examine the activities
operations procedures and processes of each department of the company. The company
follows the local and international laws rules ad regulations and also has set standards for
the efficiency and effectiveness. The company shall have to provide the access of all kind
of operational information that will be required to the auditors as audit evidences.
Considering the above situation select the most suitable type of audit which the company
should opt and why ?
4. A leather goods manufacturing company has started its operations in year 2001. After
five years of conducting successful business, it has become a listed company recently.
Now the company is required to hire its first auditors but neither the directors nor the
members could appoint the auditors during the past 4 months since the incorporation of
the company.
Explain briefly which authority in above situation can appoint auditos and why?