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Q. The auditor has noticed existence of recurring losses sale of fixed assets this indicates

Q. The working papers which auditor prepares for financial statements audit are: _

Q. The auditor should state the reasons for his reservations in audit report and should try to quantify the effect on them. This should be done in case he has expressed _ i) A qualified opinion ii) an unqualified opinion with emphasis of matter paragraph iii) An adverse opinion IV) a disclaimer of opinion

Q. The overall attitude and awareness of an entity’s board of directors concerning the importance of internal control is reflected in

Q. Stock should be valued at

Q. Internal auditor has to submit report to –

Q. Audit of Banks is an example of –

Q. In comparison to the independent auditor an internal auditor is more likely to be concerned with –

Q. ________________ Asset, which is not subject to physical verification

Q. Debtors are valued at ________________