Audit CBE MCQs -JUN 24 LINK

1. Changes may be made to the audit documenta�on during the final assembly process if they are administra�ve
in nature such changes, may not include:
A) Signing off on comple�on checklists rela�ng to the file assembly process.
B) Accumula�ng superseded documenta�on.
C) Documen�ng audit evidence that the auditor has obtained discussed and agreed with the relevant members of
the engagement team before the date of auditor’s report.
D ) Sor�ng , colla�ng and cross - referencing working papers.
Ref:(ISA-230, A-22)

2. Which one of the following procedures is not appropriate for obtaining evidence regarding the going concern
assump�on ?
A ) Inspect correspondence with the bank regarding loan or overdra� facili�es.
B ) Examine cash flow forecasts.
C ) Obtain external confirma�on from a customer regarding their outstanding balance.
D ) Discuss with management their plans for the future.
Ref: ISA-570 (Parah#16)

3. In accordance with ISA 200 , select the best op�on from the following which indicates the responsibility of
management and those charged with governance to provide the auditor with :
A ) Access to all informa�on of which management and where appropriate those charged with governance are
aware that is relevant to the prepara�on of the financial statements.
B ) All of these.
B
C ) Unrestricted access to persons within the en�ty from whom the auditor determines it necessary to obtain audit
evidence.
D ) Addi�onal informa�on that the auditor may request from management and where appropriate those charged
with governance for the purpose of the audit.
Ref: (ISA-210 parah6)
4. In accordance with ISA 500 , if informa�on to be used as audit evidence has been prepared by using the work of
a management’s expert the auditor shall to the extent necessary having regard to the significance of that
expert’s work for the auditor’s purposes :
(i) Evaluate the competence , capabili�es and objec�vity of that expert.
(ii) Obtain an understanding of the work of that expert.
(iii) Evaluate the appropriateness of that expert’s work as audit evidence for the relevant asser�on.
A ) Op�on (i) and (ii) are correct.
B ) Op�on (i) is correct.
C ) Op�on (i) (ii) and (iii) are correct.
D ) Op�on (ii) and (iii) are correct. C
Ref: (ISA-500 parah 8)

5. A significant employee fraud took place shortly a�er an internal audi�ng engagement. The internal auditor may
not have properly fulfilled the responsibility for the preven�on of fraud by failing to note and report that :
A ) There were no writen policies describing prohibited ac�vi�es and the ac�on required whenever viola�ons are
discovered.
B ) A system of control that depended upon separa�on of du�es could be circumvented by collusion among three
employees.
C ) Policies , prac�ce and procedures to monitor ac�vi�es and safeguard assets were less extensive in low risk
areas than high - risk areas.
D ) Divisional employees had not been properly trained to dis�nguish between bona fide signatures and cleverly
forged ones on authoriza�on forms.
Ref: Link
A

6. According to ISA 550 , which one of the following shall not be considered as related party ?
A ) Another en�ty over which the repor�ng en�ty has control or significant influence directly or indirectly through
one or more intermediaries. D
B ) A person or other en�ty that has control or significant influence directly or indirectly through one or more
intermediaries over the repor�ng en�ty.
C ) A related party as defined in the applicable financial repor�ng framework.
 D ) En��es that are under common control by a state that is na�onal , regional or local government.
Ref: (ISA-550 parah10)

7. Where management will not acknowledge its responsibili�es or agree to provide the writen representa�on ,
the auditor will :
A ) Be unable to obtain sufficient appropriate audit evidence.
B ) Be able to provide disclaimer.
C ) Be able to provide evidence for financial statements.
D ) Refuse to conduct the audit.
Ref: (ISA-580)

8. Which one of the following statement regarding fraud is correct ?

A) The auditor must detect all material fraud in the financial statements.
B ) The auditor may not detect all material fraud in the financial statements but this will not necessarily mean the
auditor has been negligent to make sure of the nature of fraud and the likelihood of concealment. B
C ) The auditor is not responsible for detec�ng fraud as this is the management’s responsibility.
D ) The auditor must detect every fraud in the financial statements.
Ref-F8 Chap#06-TYU#2
9. Mr. Rohaan conducted the audit of Furious Limited and found mul�ple misstatements in the financial
statements of the company which are immaterial when added together :
Which one of the following opinion is appropriate in this situa�on ?
A ) Adverse. C
B ) Qualified.
C ) Unmodified.
D ) Disclaimer.
10. As per ISA 260 , if the two - way communica�on between the auditor and those charged with governance is not
adequate and the situa�on cannot be resolved :
Which of the following ac�on the auditor may take ?
(i) Modify the auditor’s opinion on the basis of the scope limita�on.
(ii) Perform addi�onal audit procedures.
(iii) Obtaining legal advice about the consequences of different course of ac�ons.
A ) Op�on (ii) and (iii) are correct.
B ) Op�on (i) and (ii) are correct.
C ) Op�on (i) and (iii) are correct.
D ) Op�on (i) is correct.
Ref:(ISA-260) C

11. Select the best op�on from the following which does not indicate going concern problem for a company :
Oct- A ) The company find it difficult to repay loans.
23 B ) Inability to trade due to loss of key staff.
C ) Net current liabili�es indicate an ability to meet debts as they fall due.
D ) Over reliance on a small number of products. C
Ref: (F8 page#445)
Net current liabili�es (or net liabili�es overall): indicates an inability to meet debts as they fall due.
Loss of key staff: may result in an inability to trade.
Over-reliance on a small number of products,
 Defaulted loan agreements: loans normally become repayable on default, the company may find it difficult to
repay loan
12. Audit documenta�on may be recorded on paper or on electronic media. Which one of the following does not
represent example of audit documenta�on ?
A ) Correspondence via phone call.
B ) Audit programs.
C ) Summaries of significant maters.
D ) Analysis.
Ref: (ISA-230)

13. The auditor shall prepare audit documenta�on that is sufficient to enable an experienced auditor having no
Oct- previous connec�on with the audit , to understand :
23 (i) The nature , �ming and extent of the audit procedures performed to comply with the ISA and applicable legal
and regulatory requirements.
(ii) The results of the audit procedures performed and the audit evidence obtained.
(iii) Significant maters arising during the audit , the conclusions reached and significant professional judgments
made in reaching those conclusions.
A ) Op�on (i) (ii) and (iii) are correct.
B ) Op�on (i) and (ii) are correct. A
C ) Op�on (i) is correct.
D ) Op�on (ii) and (iii) are correct
Ref: (Auditing made easy-atif abidi pg#70)

14. _______ of audit evidence is the measure of the quan�ty of audit evidence. The quan�ty of the audit evidence
needed is affected by the _______ of the risks of material misstatement and also by the quality of such audit
evidence.
A ) Appropriateness , auditor’s assessment.
B ) Sufficiency , management’s assessment.
C ) Appropriateness , management’s assessment.
D ) Sufficiency , auditor’s assessment.
Ref: (ISA-200) D

14.1 _______ of audit evidence is the measure of the quality of audit evidence. The quan�ty of the audit evidence
needed is affected by the _______ of the risks of material misstatement and also by the quality of such audit
evidence. A
A ) Appropriateness , auditor’s assessment.
B ) Sufficiency , management’s assessment.
 C ) Appropriateness , management’s assessment.
D ) Sufficiency , auditor’s assessment.
Ref: (ISA-200)

15. Analy�cal procedures are commonly used as substan�ve procedures over revenue , purchases and payroll for
June which of the following reasons ?
-24 A ) It would be far too �me consuming to perform tests of details over these items as there are many transac�ons.
B ) These are o�en areas where controls are strong and analy�cal procedures will therefore be the most efficient
B
way of tes�ng these items.
C ) The auditor does not need as much evidence for statement of profit or loss items as they need for statement of
financial posi�on items.
D ) Analy�cal procedures are more reliable than tests of details.
16. The risk that the procedures performed by the auditor to reduce audit risk to an acceptable low level will not
detect a misstatement that exists and that could be material either individually or when aggregated with other
misstatements.
The above defini�on explains , which one of the following concept ?
A ) Audit risk.
B ) Detec�on risk.
C ) Inherent risk. B
D ) Control risk.
Ref: (ISA pg25)

17. ______ is known as summary that the auditor may prepare or retain as part of the audit documenta�on :
June A ) Management leter.
-24 B ) Audit file.
C ) Acceptance leter.
D ) Comple�on memorandum. D
Ref; (ISA-230)

18. An internal auditor is examining inventory control in a merchandising division with annual sales of Rs 30,000,000
and a 40 percent gross profit rate.
Tests show that 2 percent of the monetary amount of purchases do not reach inventory because of employee
the�. Adding certain controls cos�ng Rs. 350,000 annually could reduce these losses to 0.50% of purchases.
Should the control be recommended ? C
A ) Yes , because the projected savings exceed the cost of the added controls.
B ) Yes , because the ideal system of internal control is the most extensive one.
C ) No , because the cost of the added controls exceeds the projected savings.
D ) Yes , regardless of cost - benefit considera�ons because the situa�on involves employee the�.
19. As per ISA 450 , misstatements may arise due to the following factors except :
A ) Judgements of management concerning accoun�ng es�mates that the auditor considers unreasonable.
B ) An inaccuracy in gathering or processing data from which the financial statements are prepared.
C ) An appropriate classifica�on , aggrega�on or disaggrega�on of informa�on.
D ) An incorrect accoun�ng es�mate arising from overlooking or clear misinterpreta�on of facts.
Ref:(ISA-450)

20. Mr. Alam conducted the audit of Ramsha Limited , he drew new conclusions by performing addi�onal audit
procedures a�er the date of auditor’s report.
In this respect , which of the following informa�on he shall document ?
(i) The circumstances encountered.
(ii) When and by whom the resul�ng changes to audit documenta�on were made and reviewed.
(iii) The iden�fying characteris�cs of the specific items or maters tested.
A ) Op�on (ii) and (iii) are correct.
B ) Op�on (i) (ii) and (iii) are correct.
C ) Op�on (i) is correct.
D ) Op�on (i) and (ii) are correct. D
Ref: (ISA-230)

21. Mr. Hassan is conduc�ng the audit of Rafiq Limited for maintaining professional skep�cism , he should remain
alert to condi�ons such as :
A ) The evalua�on of management’s judgements in applying the en�ty’s applicable financial repor�ng framework. D
B ) Evalua�ng whether sufficient appropriate audit evidence has been obtained.
C ) The drawing of conclusions based on the audit evidence obtained.
 D ) Informa�on that brings into ques�on , the reliability of documents and responses to inquiries to be used as
audit evidence.
Ref: (ISA-200)

22. Domina�on of management by a single person or a small group of persons without compensa�ng controls is a
fraud risk factor.
Which of the following factor may include as an indicator of dominant influence exerted by a related party ?
(i) Significant transac�ons are referred to the related party for final approval.
(ii) Transac�ons under contracts whose terms are changed before expiry.
(iii) Transac�ons involving the related party are rarely independently reviewed and approved.
A ) Op�on (i) (ii) and (iii) are correct.
B ) Op�on (i) is correct.
C ) Op�on (ii) and (iii) are correct.
D ) Op�on (i) and (iii) are correct.
Ref: (ISA-550)
D

23. In accordance with ISA 330, which one of the following factor the auditor will not consider in determining
whether it is appropriate to use audit evidence about the opera�ng effec�veness of controls obtained in
previous audits and if so the length of the �me period that may elapse before retes�ng a control:
A ) The risks arising from the characteris�cs of the control , including whether it is material or automated.
B ) The risks of material misstatement and the extent of reliance on the control.
C ) Whether the lack of a change in a control posses , a risk due to changing circumstances.
D ) The effec�veness of IT controls of en�ty’s compe�tor.
Ref: (ISA-330)

D
24. In accordance with ISA 260 , which of the following maters the auditor may not take into account when
considering communica�ng with a subgroup of those charged with governance ?
A ) En�ty’s control environment.
B ) The respec�ve responsibili�es of the subgroup and the governing bodies.
C ) The nature of the mater to be communicated.
D ) Relevant legal or regulatory requirements.
Ref: (ISA-260)
A

25. In accordance with ISA 540 , management does not consider the following factor when making the accoun�ng
es�mates and an understanding of the data on which they are based :
A ) How the controls were applied at relevant �mes during the period under audit.
B ) Whether management has used an expert.
C ) The assump�ons underlying the accoun�ng es�mates.
D ) The method including where applicable the model used in making the accoun�ng es�mate.
Ref: (ISA-540 parah8)

26. As per ISA 402 , iden�fy which one of the following op�ons best define “ Subservice Organiza�on “ :
A ) The policies and procedures designed implemented and maintained by the service organiza�on to provide user
en��es with the services covered by the service auditor’s report.
B ) A service organiza�on used by another service organiza�on to perform some of the services provided to user
en��es that are part of those user en��e’s informa�on systems relevant to financial repor�ng.
C ) A third - party organiza�on that provides services to user en��es that are part of those en��e’s informa�on
systems relevant to financial repor�ng. B
D ) Controls that the service organiza�on assumes in the design of its service will be implemented by user en��es
and which if necessary to achieve control objec�ves are iden�fied in the descrip�on of its system.
Ref: (ISA-402)

27. _______ is used to improve opera�onal performance through control ac�on by management :
A ) Variance analysis.
B ) Budgetary control. B
C ) Responsibility accoun�ng.
D ) Func�onal analysis.
28. Which one of the following is not a valid substan�ve procedure for non - current assets ?
A ) Inspec�on of purchase invoices to verify the cost of addi�ons.
B
B ) Inspec�on of board minutes to ensure the acquisi�on was authorized.
C ) Physical inspec�on of the assets to confirm existence.
 D ) Recalcula�on of a deprecia�on charge.
Ref: (Auditing made easy-Atif Abidi page#123)
29. Which one of the following audit procedure is most appropriate that the auditor may perform in order to
ascertain account receivables balance ?
A ) Examining preceding cash receipts , shipping documenta�ons and sales near the period end.
B ) Examining subsequent cash disbursements or correspondence from third par�es and other records.
C ) Examining specific subsequent cash receipts , shipping documenta�ons and sales near the period end.
D ) Examining preceding cash disbursements or correspondence from third par�es and other records.
Ref (Caf-06 SSM) C

30. Q30 ) In accordance with ISA 210 , when the auditor of a parent en�ty is also the auditor of a component , the
factor that may influence the decision whether to send a separate audit engagement leter to the component
include the following :
(i) Who appoints the component auditor.
(ii) Whether a separate auditor’s report is to be issued on the component.
(iii) Legal requirements in rela�on to audit appointments.
(iv) Arrangements concerning the involvement of other auditors and experts in some aspects of the audit.
A ) Op�on (ii) (iii) and (iv) are correct.
B ) Op�on (i) and (ii) are correct.
C ) Op�on (iii) and (iv) are correct.
D ) Op�on (i) (ii) and (iii) are correct
Ref: (ISA-210)
D

31. An acquire at the acquisi�on date of recognize goodwill acquired in a business combina�on goodwill is to be
accounted as follow.
a. Recognize as an intangible asset and annually test for impairment or more frequent indicated
b. Write off against retained earnings
c. Recognize as an intangible asset and impairment test when a trigger event of
d. Recognize as an intangible asset and amor�ze over useful life
A

32. Audit documenta�on is not a subs�tute for the

A. None of these B. Correspondence of significant maters
D
C. Record of the Board of Directors mee�ngs D. En�ty's accoun�ng record
Ref: (ISA-230) A3
33. __________ refers to , when the auditors assess whether circumstances require the terms of the audit
engagement to revised and whether there is a need to remind the company of the exis�ng teams of the audit
engagement
a. precondi�ons for an audit
b. Monitoring
c. Inspec�on
d. Recurring audits D
Ref: (ISA-210)

34. In accordance with ISA 570, which one of the following is not the responsibility of the auditor?
June A. To ensure the financial statements are prepared on the appropriate basks
-24 B. When there are material uncertain�es ensure sufficient disclosures of such mater in the notes to the financial
statements
D
C. If the going concern basis has been used they should obtain sufficient appropriate audit evidence
D. Assess the company's ability to con�nue as a going concern while preparing financial statements
Ref (ISA-570)
Read parah 3 to 7, Here op�on A is talking about going concern basis
35. The inherent limita�ons of an audit arise from the following, except
A. Inadequate planning
B. The nature of financial repor�ng
C. The need for the audit to be conducted within a reasonable period of �me and at a reasonable cost
D. The nature of audit procedures
Ref(ISA-200) A47
A

36. Descrip�on Saad Limited has inventory on hand at December 31, 2019 having cost of Rs. 500,000 that it expects
to sell in the ordinary course of business for Rs. 600,000. In order to sell the inventory, the company expects to
incur selling costs of Rs. 50,000 and expects to incur further cost of Rs. 80,000 to put this inventory into a
saleable condi�on. The possible writen down value of inventory will be
A. Rs. 10,000 B. Rs. 490,000 C. Zero D. Rs. 110,000
Ans=30,000 (600,000-50,000-80,0000)
37. You have been appointed as a statutory audit of jawad limited the company has been sued by a customer for a
defec�ve product. Iden�fy best op�on from the following indicates audit risk fr the company in this situa�on.
a. Provision may be understated if the probable liability resul�ng from the court case is not recognized in the
financial statement
A
b. The reputa�on of the company is being damaged is being due to the court case
c. The company will have to spend a significant amount of money on improving their quality control procedure to
avoid the same defect occurring again
d. If company lose the case, the compensa�on awarded is likely to be significant.
38. In accordance with ISA 315, risk assessment procedure to obtain audit evidence about the design and
implementa�on of relevant control may includes:
(i) Inquiring of en�ty personal C
(ii) Observing the applica�on of internal control
(iii) Inspec�ng documenta�on and report
 a. Op�on (i) is correct
b. Op�on (ii) and (iii) are correct
c. Op�on (i), (ii) and (iii) are correct
d. Op�on (i) and (ii) are correct
Ref: (New AARS- pg#67)

39. Mr. Mehtab is conduc�ng audit of shafaq limited. For the purpose of forming a conclusion on compliance with
independence requirements that apply to the audit engagement he shall:
(i) Obtain relevant informa�on from the company to iden�fy and evaluate circumstances and rela�onship that
create threat to independence
(ii) Evaluate informa�on on iden�fied breaches of the company policies and procedures to determined whether
they create a threat to independence for the audit engagement
(iii) Take appropriate ac�on to eliminate threats or reduces them to an acceptable level by applying safeguards.
a. Op�on (i),(ii) and (iii) are correct
b. Op�on (ii) and (iii) are correct
c. Op�on (i) are correct
d. Op�on (i) and (ii) are correct
Ref-link

40. Select the best op�on from the following which does not represent purpose of planning the audit
a. To ensure that the appropriate opinion will be issued when the audit is complete
b. To enable the audit to be performed efficiency and effec�vely C
c. To ensure the audit to be as profitable as possible
d. To enable the appropriate audit team to be assigned
41. _________ is an audit procedure designed to detect material misstatement at the asser�on level
a. Substan�ve procedure
b. Test of control
c. Performance materiality
d. Segrega�on of du�es
Ref: (Auditing made easy-atif abidi pg#67) A

42. As per ISA 530, In which of the following factor the auditor shall consider to decrease the sample size for test of
control
C
a. An increase in the auditor desired level of assurance that the tolerable rate of devia�on is not exceeded by the
actual rate of devia�on in the popula�on
 b. An increase in the expected rate of devia�on of the popula�on to be tested
c. An increase in the tolerable rate of devia�on
d. An increase in the extent to which the auditor risk takes into account relevant controls.
Ref(ISA-530) APPENDIX 2

43. In accordance with ISA 560, if , a�er the financial statements have been issue, a fact becomes known to the
auditor that, had it been known to the auditor at the date of the auditor’s report, may have caused the auditor
to amend the auditor report shall:
(i) Discuss the mater with engagement quality control reviewer
(ii) Determine whether the financial statements need amendment
(iii) Inquire how management intends to address the mater in financial statements
a. Op�on (i) and (ii) are correct
b. Op�on (ii),(iii) are correct
c. Op�on (i),(ii) and (iii) are correct B
d. Op�on (i) is correct
Ref(ISA-560) parah 10

44. Which one of the following does not represent the factor on which the form, content and extent of audit
documenta�on depand?
a. The iden�fied risk of material misstatements
b. The significant of audit evidence obtained
c. The nature of the audit procedures to be performed
d. The size and simplicity of the en�ty
Ref(ISA-230)

45. __________ is the date the auditor’s report and audited financial statements are made available to third par�es
a. Date of the approval of the financial statement
b. Date of the financial stamen
c. Date of the auditor’s report
d. Date the financial statements are issued
D
Ref(ISA-560) parah 5
46. _____________ is the from a different audit firm, who audited the financial statements of an en�ty in the prior
June period and who has been replaced by the current auditor.
-24 a. Service auditor
b. User auditor
c. internal auditor D
d. Predecessor auditor
ISA- GLOSSARY

47. The internal auditor has concluded that an engagement client system of internal controls inadequate to achieve
management’s objec�ves. The most appropriate next step is to ._____________
a. contact the management client supervisor to recommended that the head of department or func�on under
audit is transferred or terminated
b. Tests controls to determine whether they are func�oning as designed
c. End the engagement and issue report about inadequate controls
d. Draw preliminary conclusion about internal control.
Ref: Link

Feedbacks from students

48. Follwing companies are required to maintain cost accoun�ng records to provide cost accoun�ng informa�on in a
June verifiable form, except for
-24 A) Cement
B) Sugar
C) Ghee and Vegetable oil
D) Automobile companies
Ref: ICMA Study Text (pg#314-of pdf)

49. Your Australian audit client has informed you that they will be winding up their business within the next eight to
Oct- 12 months and has asked whether this will have an effect on the financial statements.
23 Which one of the following statements best describes the financial repor�ng requirements in this situa�on?
A) There are no implica�ons for the financial statements because the business will con�nue in opera�on for up to C
12 months.
B) The auditor will have to issue a disclaimer of opinion because the value of the firm’s assets and liabili�es cannot
be determined.
 C) The balance sheet must be prepared to show the liquida�on values of the assets and liabili�es because the
going concern basis is no longer appropriate.
D) The financial statements should include a note disclosing the fact that the business will cease to operate. An
Emphasis of Mater paragraph will be included in the auditor’s report, drawing the reader’s aten�on to this
disclosure.
Ref-(CPA-Australia) 2.24

49. Which one of the following does not impact on inherent risk?
Oct- A The auditor has reduced the sample sizes for tes�ng of purchases for the en�ty.
23 B The en�ty has purchased its raw materials from the United States at discounted prices.
C During the year, the en�ty converted its computer system to a new improved online system.
D Management has introduced a new bonus scheme for sales employees who meet their monthly target.
Ref-(CPA-Australia)2.5

A
50. Which one of the following statement regarding compliance with laws and regula�ons is correct?
Oct- A) The auditor must iden�fy instances of non-compliances with laws and regula�ons as this may lead to material
23 misstatement In the financial statements
B) The auditor has no responsibility with regards to laws and regula�ons as this is management's responsibility
C) Any breach of laws and regula�ons must be disclosed in the audit report
D) The auditor must iden�fy instances of non-compliances with laws and regula�ons as they are required by law to
report it to the police
51. In which one of the following audit procedures are ‘existence’ and ‘valua�on and alloca�on’ of accounts
Oct- receivable the major asser�ons of interest?
23 A posi�ve external confirma�on of accounts receivable
B nega�ve external confirma�on of accounts receivable
C agreeing amounts listed on the aged accounts receivable trial balance to subsequent receipts
D vouching transac�ons back to suppor�ng documenta�on and ensuring that the dollar value is correctly recorded
Ref-(CPA-Australia) 4.9

52. Which of the following recommenda�ons are appropriate in increasing the independence of SouthLea's
Oct- internal audit department?
23 (1) The chief internal auditor should be appointed by the board of directors.
(2) The chief internal auditor should report to the board of directors.
(3) The finance director should decide on the scope of the internal audit work
A) (1) and (2) only
B) (1) and (3) only
C) (2) and (3) only A
D) (1), (2) and (3)
Ref: F8 bpp kit 2017

53. According to ISA 315, which of the following is NOT a control ac�vity?
Oct- A) Performance reviews
23 B) Physical controls
C) Organisa�onal structure
C
D) Segrega�on of du�es
Ref: CFAP-o6 exam kit

54. Which one of the following circumstances would not be included in the auditor’s communica�on with those
Oct- charged with governance about maters related to fraud?
23 A a failure by management to respond to an iden�fied fraud C
B the absence of a risk assessment process for viola�ons of labour laws
C a list of store loca�ons where inventory turnover is significantly higher than average
 D a failure by management to address iden�fied material weaknesses in internal control
Ref-(CPA-Australia)2.23

55. ISA 240 The Auditor’s Responsibili�es Rela�ng to Fraud in an Audit of Financial Statements specifically requires
Oct- the auditor, when iden�fying and assessing the risk of material misstatement due to fraud, to presume there is a
23 risk of fraud in
A) revenue recogni�on.
B) weak internal controls.
C) liability understatement.
D) misappropria�on of assets.
Ref-(CPA-Australia) 2.4

56.
Oct-
23

57.
Oct-
23
58.
Oct-
23

59.
June
-24

60. ethical principles pochea tha, except for

June A) competences & due care
-24 B) integrity C
C) independence
D) confiden�aty
61. writen repera�on kon se ISA mie required nahi i think ase hie tha kuxh.
June A)ISA-720
-24 B) ISA-230
C) ISA-420
D)
62. ISAE-3000 ka tha ik is kie report se realted tha kea subject mater issue ya criteria yad nahi .
June
-24
By: Mirza Abdul Raheem Baig