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CA Final Auditor Independence — practice questions — page 3

Explore 73 free Auditor Independence questions in CA Final Auditing. Open each question or exercise to read its content, reference answers and available explanation.

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Auditor Independence questions and exercises with answers

Showing questions 61–73 of 73.

Section 143(15) fines an auditor who ignores sub-section (12), up to what ceiling?Read the answer and worked solution →Section 143(1) gives an auditor a right of access to books and vouchers when?Read the answer and worked solution →A holding company's auditor may access records of subsidiaries for what purpose?Read the answer and worked solution →Rule 13 extends fraud reporting also to which pair of auditors?Read the answer and worked solution →Under Section 28A of the CA Act 1949, who constitutes the Quality Review Board?Read the answer and worked solution →The Quality Review Board has a Chairperson and how many other members?Read the answer and worked solution →How many Quality Review Board members does the ICAI Council nominate under Section 28A(3)?Read the answer and worked solution →Under Section 28B, the Quality Review Board reviews the quality of which services?Read the answer and worked solution →Under Section 28D(2), who bears the Quality Review Board's expenditure?Read the answer and worked solution →Under Section 21B, who is the Presiding Officer of the Disciplinary Committee?Read the answer and worked solution →How many Disciplinary Committee members does the Central Government nominate under Section 21B?Read the answer and worked solution →Which action can the Section 21B Disciplinary Committee take against a guilty member?Read the answer and worked solution →Before any order under Section 21B(3), the member must be given what?Read the answer and worked solution →

Worked practice questions

Section 143(15) fines an auditor who ignores sub-section (12), up to what ceiling?

  1. Rs 10 lakh
  2. Rs 50 lakh
  3. Rs 1 crore
  4. Rs 25 lakh
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Correct answer: D. Rs 25 lakh

The fine is at least one lakh rupees and may extend to twenty-five lakh rupees.

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Section 143(1) gives an auditor a right of access to books and vouchers when?

  1. Only at year end
  2. Only with approval
  3. At all times of year
  4. Once every quarter
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Correct answer: C. At all times of year

Every auditor has a right of access at all times to the books of account and vouchers.

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A holding company's auditor may access records of subsidiaries for what purpose?

  1. Consolidation of accounts
  2. Setting the audit fee
  3. Appointing directors
  4. Declaring dividends
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Correct answer: A. Consolidation of accounts

The proviso gives access to subsidiary records only so far as it relates to consolidation.

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More Auditing topics

Auditor's ReportOverview of Audit of Public Sector UndertakingsInternal AuditStandards on Auditing and Professional EthicsInternational Ethics Standards Board for AccountantsRisk Assessment and Internal ControlSpecial Features of Audit of Banks and Non-Banking Financial CompaniesAuditor's Report on Financial Statements