(A) Evidence for audit conclusions

(B) Owned by the client

(C) Owned by the auditor

(D) Retained in auditor’s office until a change in auditors

(A) The auditor

(B) The client

(C) The audit assistants

(D) The auditor and his audit assistants

(A) AAS7

(B) AAS8

(C) AAS9

(D) AAS3

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

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

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

(D) He applies random sampling on data which is inaccurate and inconsistent

(A) Risk of over reliance

(B) Risk of incorrect rejection

(C) Risk of incorrect acceptance

(D) Both (a) and (c)

(A) The auditor concludes balance is materially correct when in actual fact it is not

(B) The auditor concludes that the balance is materially misstated when in actual fact it not

(C) The auditor has rejected an item for sample which was material

(D) None of the above

(A) Authenticated copy of relevant minutes of meetings may be regarded as management representation

(B) It should always be in working

(C) It may be dated prior to the report date

(D) It should be addressed to the auditor

(A) Minutes of meetings

(B) Confirmations from debtors

(C) Information gathered by auditor through observation

(D) Worksheet supporting consolidated financial statements

(A) When it constitutes entire population

(B) When it is enough to provide a basis for giving reasonable assurance regarding truthfulness

(C) When it is objective and relevant

(D) When auditor collects and evaluates it independently

(A) The reliability of audit evidence and its relevance in meeting the audit objective

(B) The objectivity and integrity of the auditor

(C) The quantity of audit evidence

(D) The independence of the source of evidence