Audit Questions and Answers

All downloads are temporary disabled so please wait and check later we are updating pdfs.

Audit Questions and Answers: Submit Your Question

Q - 1 Why you want to be a auditor?

Ans- To scrutinize that work done was properly or not according to prescribed rules and regulations.
To avoid discrepancies while doing work.

Q - 2 What are intangible assets?

Ans- Intangible assets are those which we can't be seen like goodwill of the company.

Q - 3 What are tangible assets?

Ans- Tangible Assets are those assets which we can see or touch like fixed asset ,machinery,etc.

Q - 4 What is vouching?

Ans- Vouching is the process of checking for the existence an example for this is checking from the final record to the supporting document.

Q - 5 Who will audit an auditing firm?

Ans- One auditing firm can audit other auditing firm.

Q - 6 What is the mean of decommission Liability?

Ans- Decommission Liability is costs that a company expects to incur in the future when the plant is shut down.

Q - 7 What should the internal auditor?

Ans- Contact the board of directors or the audit committee. They should ensure the independence of internal auditing.

Q - 8 What is CARO 2004?

Ans- CARO means company audit report order 2004.It describes the matter on witch Statutory Auditors has to report in their Audit Report.

Q - 9 What is social audit?

Ans- social audit is performed to know the corporate social responsibility.

Q - 10 What is final audit?

Ans- Final audit is commenced when all account has been closed and final accounts is been prepared.

Place Your Question