A. By independent auditor
B. Statutorily appointed auditor
C. By a person appointed by the management
D. By a government auditor
✅ The correct answer is option C.
252. The scope of internal audit is decided by the :
A. Shareholders
B. Management
C. Government
D. Law
✅ The correct answer is option B.
259. Concurrent audit is a part of
A. Internal check system
B. Continuous audit
C. Internal audit system
D. None
✅ The correct answer is option C.
258. In India, balance sheet audit is synonymous to
A. Annual audit
B. Continuous audit
C. Detailed audit
D. Statutory audit
✅ The correct answer is option A.
256. Which of the following statements is not true?
A. Management fraud is more difficult to detect than employee fraud
B. Internal control system reduces the possibility of occurrence of employee fraud and management fraud
C. The auditor’s responsibility for detection and prevention of errors and frauds is similar.
D. All statements are correct.
✅ The correct answer is option B.
257. Audit of banks is an example of –
A. Statutory audit
B. Balance sheet audit
C. Concurrent audit
D. All of the above
✅ The correct answer is option D.
249. Audit in depth is synonymous for
A. Complete audit
B. Completed audit
C. Final audit
D. Detailed audit
✅ The correct answer is option D.
247. Institute of Chartered Accountants of India was established
A. 1956
B. 1949
C. 1956
D. 1948
✅ The correct answer is option B.
245. Internal check is carried on by
A. Staff specially appointed for the purpose
B. Internal auditor
C. Supervisor of the staff
D. Members of the staff
✅ The correct answer is option D.
243. Errors of Omission are
A. Technical errors
B. Errors of principle
C. Compensating errors
D. None of the above
✅ The correct answer is option A.