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Settlement of Audit Objections
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Settlement of Audit Objections
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Settlement of Audit Objections
An auditor conducts a surprise check on the pay day (i.e.) the day wages and salaries are paid. The primary purpose of this audit procedures is:
To ensure that there are not ghost workers
To test procedures for distributing pay cheques
Both A and B
None of these
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Settlement of Audit Objections
Which of the following controls would ensure that securities are not lost, stolen or diverted:
Establish physical barriers over investment securities
Maintain files of authorized signatures
Segregate investment approval form accounting and from custody of securities
All of the above
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rikazzz
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Settlement of Audit Objections
Concurrent audit is a part of:
internal check system
continuous audit
internal audit system
final audit
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rikazzz
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Settlement of Audit Objections
The risk of management fraud increases in the presence of :
Frequent changes in supplies
Improved internal control system
Substantial increases in sales
Management incentive system based on sales done in a quarter
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rikazzz
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