auditing Mcqs
151. Process of verifying the documentary evidences of transactions are known as___________?
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A. Auditing

B. Verification

C. Testing

D. Vouching
152. In an audit of financial statements, substantive tests are audit procedures that___________?
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A. may be eliminated for an account balance under certain conditions

B. may be test of transactions, test of balance and analytical procedures

C. will increase proportionately when the auditor decreases the assessed level of control risk

D. are designed to discover significant subsequent events

153. Which one of the following is part of the auditors function?
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A. Obtaining and evaluating audit evidence on the financial statements

B. Conducting the inventory count

C. Calculating the year-end accruals figure for inclusion in the accounts

D. Providing representations to management