Auditing of Companies MCQs

NOTE: Attempt all Questions to see the Result at the bottom of this page.

  1. 11)

    AB & Co, chartered accountant, have been requested by their client XYZ Ltd. not to confirm accounts receivables because of concerns about creasing conflicts with customers over amounts owed. The auditors were satisfied concerning receivables after applying alternative audit procedures AB & Co.’s auditors report likely contained

    • A) Qualified opinion
    • B) Disclaimer of opinion
    • C) Unqualified I opinion with an explanatory paragraph
    • D) Unqualified opinion

  2. 12)

    The auditor should state the reasons for his reservations in audit report and should try to quantify the effect on them. This should be done in case he has expressed _

      (i) a qualified opinion    (ii) an unqualified opinion with emphasis of matter paragraph
      (iii) an adverse opinion   (iv) a disclaimer of opinion

    • A) i) only
    • B) i) and (iv) only
    • C) i), iii) and (iv) only
    • D) All of the above