Settlement of Audit Objections

to ensure that there are no ghost workers

to ensure the casual workers employed are authorized by the supervisor

to ensure the casual workers employed are authorized by the supervisor

to obtain understanding of internal control system

examine the scope of internal auditor’s work

examine the system of supervising review and documentation of internal auditor’s work

adequacy of related audit programme

all of the above

Freehold land

Plant and machinery

Leasehold property

Motor vehicles

Qualified opinion

Disclaimer of opinion

Adverse opinion

Unqualified report with ‘an emphasis of matter’ paragraph

Daily cash sales summary

Salesmen’s summary

Monthly statements sent to customers

Banks statement

Amount of known misstatement is documented in working papers

Estimates of the total likely misstatement is less than materiality level

Estimate of the total likely misstatement is more than materially level

Estimates of the total likely misstatement cannot be made

The auditing profession is unregulated

The auditing profession is regulated only by its own professional body

Outside bodies sometimes become involved in the regulation of the audit profession

The auditing profession is regulated only by the government

The auditor has ascertained that the balance is materially correct when in actual fact it is not

The auditor concludes the balance is materially misstated when in actual fact is not

The auditor has rejected an item from sample which was not supported by documentary evidence

He applies random sampling on data which is inaccurate and inconsistent

identify cases of unrecorded revenue

ensure proper disclosure in the balance sheet

recomputed accrued income on the data of balance sheet

Any of these

Scope paragraph

Opinion paragraph

Scope and opinion paragraphs

Introductory, scope and opinion paragraph