Accountancy MCQs

Audit Questions with solutions MCQs

1. What is the first step of a financial audit?

A

planning the audit

B

interviewing the company`s managers to find out what they want the auditors to say in the final report

C

determining the scope, or boundaries of the audit

D

Conducting surprise cash counts on nay point of sale registers

Audit Accountancy and Book Keeping
Correct Answer : A
Explanation :

Audit Process<br>Step 1: Planning<br>Step 2: Notification<br>Step 3: Opening Meeting<br>Step 4: Fieldwork<br>Step 5: Report Drafting<br>Step 6: Management Response<br>Step 7: Closing Meeting<br>Step 8: Final Audit Report Distribution<br>Step 9: Follow-up

Correct Answered :

Wrong Answered :

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