A. i) only
B. i) and (iv) only
C. i), iii) and (iv) only
D. All of the above
✅ The correct answer is option A.
SSC
1332. Who among the following can be appointed as special auditor by the Central Government?
A. The statutory auditor
B. chartered accountant in practice
C. Any chartered accounted who is not in practice
D. Both (a) and (b)
✅ The correct answer is option D.
1333. A departure from recognized accounting principle is disclosed in a note to the financial statements. The auditor should
A. Issue a standard unqualified audit report
B. Issue a qualified report
C. Issue an unqualified report with ‘emphasis of matter’ paragraph
D. Disclaim opinion
✅ The correct answer is option B.
1334. Special audit is conducted at the order of the Central Government. Which section gives such powers?
A. Section 233(A)
B. Section 233A
C. Section 242(A)
D. Section 242A
✅ The correct answer is option C.
1335. In case the auditor gives a disclaimer of opinion in the audit report which of the following paragraph(s) of a standard unqualified audit report are modified?
A. Scope paragraph
B. Opinion paragraph
C. Scope and opinion paragraphs
D. Introductory, scope and opinion paragraph
✅ The correct answer is option C.
1336. The branch auditor is appointed by –
A. Shareholders in an annual general meeting
B. Shareholders in general meeting
C. Board of directors in board meeting
D. Any of the above
✅ The correct answer is option B.
1337. The management of a company, to which AS3 is not applicable, does not include statement of cash flows in its annual report. The auditor should express
A. Unqualified opinion
B. Qualified opinion
C. Adverse opinion
D. Any of these depending upon materiality and pervasiveness and adequacy of disclosure
✅ The correct answer is option A.
1338. Which of the following statements with regard to rules regarding exemption from branch audit is not true?
A. A branch office of a company can be granted exemption on the basis of quantum of activity criterion
B. If a satisfactory arrangement of scrutiny check of the books of account of a branch office of a manufacturing company has been made, it can be exempted from branch audit
C. Cost consideration should be considered as an important factor/ground for exemption from branch audit
D. The auditor should state in his audit report that branch office is exempted by virtue of quantum of activity or any other basis
✅ The correct answer is option B.
1339. Which of the following is not true regarding requirements under section 227(3) (f) of the Companies Act, 1956?
A. The auditor has to satisfy himself whether any of the directors of the company, whether public or private, are disqualified from being appointed as directors as per section 274(1) (g).
B. Section 274(1) (g) is applicable to appointment of directors both in public and private companies but reporting is limited to only those directors of a company who are also directors of a public company
C. The auditor requires every director to submit a written representation in respect of each Public company, of which the is a director, as to whether such company has defaulted in terms of provisions of sections 274(1) (g)
D. The disqualification should be considered on the date of audit report.
✅ The correct answer is option D.
1340. The client changed method of depreciation from straight line to written down value method. This has been disclosed as a note to the financial statements. It has an immaterial effect on the current financial statements. It is expected, however, that the change will have a significant effect on future periods. Which of the following option should the auditor express?
A. Unqualified opinion
B. Qualified opinion
C. Disclaimer of opinion
D. Adverse opinion
✅ The correct answer is option A.