SSC

A. Obtain an understanding, design substantive test, perform tests of control, and make a preliminary assessment of control risk

B. Design substantive tests, obtain an understanding, perform tests of control, and make a preliminary assessment of control risk

C. Obtain an understanding, make a preliminary assessment of control risk, perform tests of control, design substantive procedures.

D. Perform tests of control, obtain and understanding, make a preliminary assessment of control risk, design

A. Existence of controls

B. Effectiveness of controls

C. Continuity of controls

D. Designing of controls

A. Sending debtor’s confirmation letters

B. Reviewing subsequent collection

C. Verify debtors against sales document

D. Both (a) and (b)

A. Establish physical barriers over investment securities

B. Maintain files of authorized signatures

C. Segregate investment approval from accounting and from custody of securities

D. All of the above

A. No insurance has been undertaken for building

B. Lien on building

C. Insurance premium has not been paid

D. Insurance premium paid but not recorded

A. Valuation

B. Existence

C. Disclosure

D. Possession

A. Modify his audit report

B. Insist it should be disclosed in the notes to financial statements

C. Write it in letter of weakness

D. Both (b) and (c)

A. Existence and ownership

B. Valuation and disclosure

C. Possession and ownership

D. Completeness and valuation

A. Depreciation charges are insufficient

B. Policy of sale or disposal of fixed assets needs to be reviewed

C. The sale of assets have not been properly authorized

D. Accounting errors

A. Overall financial statements level

B. Fraud risk factor level

C. Financial statement assertion level

D. Control environment level