Auditing MCQs and Notes
Q. According to Section ___ Special Audit is conducted at the central government
✅ Correct Answer: (C)
Section 242(A)
Q. Retiring auditor does not have right to –
✅ Correct Answer: (A)
Make written representations
Q. Which of the following statements is not correct regarding removal of first auditor before expiry of the term?
✅ Correct Answer: (C)
The approval of central government is required for such removal
Q. The panel of Auditors of cooperative society is maintained by –
✅ Correct Answer: (C)
Registrar
Q. The term Standard Auditing Practices refers –
✅ Correct Answer: (A)
Auditing techniques adopted by auditor for collecting & vouching evidences
Q. Shares issued for consideration other than cash should be vouched with help of –
✅ Correct Answer: (C)
Contract with the party concerned