Exam 3: Government Accounts and Audit Procedures

Which of the following statements are true?

In the context of Government Accounts in India, the key feeder systems aslo include State Bank of India or any other public sector bank transacting Government Business on behalf of Reserve Bank of India

Which of these broad characteristics of audit working papers applies particularly to photocpies

The process for identifying material risk factors has ____ key stages

In the context of Government Accounts in India, the key feeder systems include:

Which of the following statements is True?

The three levels of substantive procedures that can be performed in decreasing order of assurance required are:

The document that presents an analysis of the main audit areas and a summary of the key planning decisions is called

The acid test for good documentation is

Which of the following is True?

The extent of audit procedures and the the level of assurance required are

Misclassification of revenue expenditure resulting in a saving in a grant when in fact there has been an excess is an example of.

Instructions to audit team members on the performance of chosen audit procedures are contained in the

These are Performed if the audit team plans to take assurance from mitigating controls or from other controls .

The risks identified from top down review of entities and which may affect a number of different account areas are called

Which of the following is False?

Analytical Procedures are unlikely to be used when these are performed.

If the financial statements properly present receipts and payments or give a true and fair view and have been prepared in accordance with relevant accounting requirements, the auditor

Which of the following statements is false?

These are performed if the audit team has not identified risks that could lead to material misstatement and no reliance is planned to be placed on controls.