Settlement of Audit Objections

On a daily basis

At least once a year

At least monthly

At least weekly

determine whether assets are safeguarded

determine whether assets are safeguarded

Plan audit procedures

express and opinion

Risk of over reliance

Risk of incorrect rejection

Risk of incorrect acceptance

Both (a) and (c)

randomly

disproportionately

directly

inversely

Sample size

Audit risk

Materiality

Expected error

The person signing the Cheque should cancel the supporting documents

Cheques should be signed by at best two persons

The data of payment of vouchers of similar nature should be the same or close to each other

All of the above

The internal controls are operating inefficiently

Substantive procedures alone provide sufficient appropriate audit evidence at the assertion level

Substantive procedures alone do not provide sufficient appropriate audit evidence at the assertion level

Analytical procedures alone do not provide sufficient appropriate audit evidence at the assertion level

Taxation

Vouching

Insurance

The letter of representation

prevention of frauds

detection of frauds

helping audit is depth

detection of errors

Existence of any immaterial mistake in the statements

Existence of any fraud or error in the statements

Company growth trend in the future in figures

Market value of the company stock