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CA Final Auditor's Report on Financial Statements — practice questions — page 3

Explore 79 free Auditor's Report on Financial Statements questions in CA Final Auditing. Open each question or exercise to read its content, reference answers and available explanation.

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Auditor's Report on Financial Statements questions and exercises with answers

Showing questions 61–79 of 79.

Section 146 gives the auditor a right to be heard on which business?Read the answer and worked solution →CARO 2020 is made by the Central Government under which sub-section of s.143?Read the answer and worked solution →CARO 2020 superseded which earlier Order?Read the answer and worked solution →Which company is excluded from CARO 2020 by its clause 1(2)?Read the answer and worked solution →Is an insurance company covered by CARO 2020?Read the answer and worked solution →For consolidated financial statements, only which CARO 2020 clause applies?Read the answer and worked solution →Proper records of full particulars under CARO 2020 clause 3(i)(a)(A) relate to which assets?Read the answer and worked solution →CARO 2020 clause 3(ii)(a) deals with physical verification of what?Read the answer and worked solution →CARO 2020 clause 3(vi) refers to cost records specified under which Companies Act section?Read the answer and worked solution →Per CARO 2020 clause 3(xi)(b), which form evidences the auditor's fraud report to the Centre?Read the answer and worked solution →What must the auditor consider under CARO 2020 clause 3(xi)(c)?Read the answer and worked solution →CARO 2020 clause 3(xiii) checks related party transactions against which sections?Read the answer and worked solution →CARO 2020 clause 3(xiv)(a) asks whether the company has what?Read the answer and worked solution →CARO 2020 clause 3(xv) on non-cash transactions with directors relates to which section?Read the answer and worked solution →CARO 2020 clause 3(xvii) asks about cash losses in how many financial years?Read the answer and worked solution →CARO 2020 clause 3(xix) is about the auditor's opinion on what?Read the answer and worked solution →Under CARO 2020 clause 3(xx)(b), unspent CSR for an ongoing project goes where under s.135(6)?Read the answer and worked solution →CARO 2020 clause 3(xxi) asks about qualifications in whose CARO reports?Read the answer and worked solution →CARO 2020 clause 3(xvi) covers registration under section 45-IA of which Act?Read the answer and worked solution →

Worked practice questions

Section 146 gives the auditor a right to be heard on which business?

  1. Director appointments only
  2. Dividend declaration only
  3. Any part that concerns him
  4. None; he only listens
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Correct answer: C. Any part that concerns him

The auditor has a right to be heard at the meeting on any part of the business which concerns him as the auditor.

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CARO 2020 is made by the Central Government under which sub-section of s.143?

  1. Sub-section (3)
  2. Sub-section (8)
  3. Sub-section (11)
  4. Sub-section (14)
Show answer and solution

Correct answer: C. Sub-section (11)

The Order recites that it is made in exercise of powers under sub-section (11) of section 143.

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CARO 2020 superseded which earlier Order?

  1. The 2010 Order
  2. The 2003 Order
  3. The 1988 Order
  4. The 2016 Order
Show answer and solution

Correct answer: D. The 2016 Order

The 2020 Order was made in supersession of the Companies (Auditor's Report) Order, 2016.

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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 CompaniesAudit Planning Strategy and Execution