Start learning →

CA Final Auditor's Report — practice questions — page 3

Explore 100 free Auditor's Report questions in CA Final Auditing. Open each question or exercise to read its content, reference answers and available explanation.

Practise Auditor's Report with Quill →

Auditor's Report questions and exercises with answers

Showing questions 61–90 of 100.

Who typically receives a more detailed audit report than the public report?Read the answer and worked solution →Which 2002 US law led to the PCAOB being set up?Read the answer and worked solution →Unqualified opinion indicates changes in accounting principles were what?Read the answer and worked solution →A disclaimer may arise if the client imposes a limit on what?Read the answer and worked solution →Which opinion fits a material misstatement in one account that is not pervasive?Read the answer and worked solution →Which opinion is issued when misstatements are material and pervasive?Read the answer and worked solution →Which wording marks a disclaimer in the opinion paragraph?Read the answer and worked solution →Which phrase does a qualified opinion add to its opinion paragraph?Read the answer and worked solution →How much assurance does an unqualified opinion on financial statements give?Read the answer and worked solution →How many common types of auditor's reports exist on financial statements?Read the answer and worked solution →Which element is part of the standard auditor's report layout?Read the answer and worked solution →Which paragraph describes the nature of audit work and any limitations faced?Read the answer and worked solution →Where should a going concern disclosure paragraph be placed?Read the answer and worked solution →Section 204 of the Sarbanes-Oxley Act required auditors to communicate certain information to whom?Read the answer and worked solution →Which body was created to oversee audit firms of public companies after Sarbanes-Oxley?Read the answer and worked solution →A review of financial statements involves which level of audit procedures?Read the answer and worked solution →Because of constraints, an audit seeks what level of assurance?Read the answer and worked solution →Who is employed by the organization whose records are audited?Read the answer and worked solution →Which auditor checks compliance with secretarial and other applicable laws?Read the answer and worked solution →Which auditor reports on whether cost statements and cost sheets are free of material misstatement?Read the answer and worked solution →An auditor has no significant reservation about the financial statements. Which opinion is issued?Read the answer and worked solution →An unqualified opinion is not a clean bill of health for the company because the auditor gives only what level of assurance?Read the answer and worked solution →The financial statements are materially misstated and the misstatements are pervasive. Which opinion fits?Read the answer and worked solution →One account balance is materially misstated, but the effect is not pervasive. Which opinion is appropriate?Read the answer and worked solution →Inventory could not be tested; all else is fine. The likely report?Read the answer and worked solution →A company fails to consolidate a material subsidiary, a pervasive departure from GAAP. What opinion results?Read the answer and worked solution →If the auditor is not independent of the client, which type of report suits the situation?Read the answer and worked solution →Which sentence is in a disclaimer's opinion paragraph?Read the answer and worked solution →A qualified opinion on faulty depreciation includes which wording?Read the answer and worked solution →After an adverse opinion, lenders usually ask the auditee to do what?Read the answer and worked solution →

Worked practice questions

Who typically receives a more detailed audit report than the public report?

  1. Competing firms
  2. The audit committee
  3. Retail customers
  4. Trade suppliers
Show answer and solution

Correct answer: B. The audit committee

The audit committee or board gets far more detail on procedures and findings than the public report.

Open this question →

Which 2002 US law led to the PCAOB being set up?

  1. Dodd-Frank Act
  2. Sarbanes-Oxley Act
  3. Glass-Steagall Act
  4. Securities Act
Show answer and solution

Correct answer: B. Sarbanes-Oxley Act

The Sarbanes-Oxley Act of 2002 established the PCAOB to oversee public company auditors.

Open this question →

Unqualified opinion indicates changes in accounting principles were what?

  1. Left unreported
  2. Properly disclosed
  3. Quietly reversed
  4. Left to the users
Show answer and solution

Correct answer: B. Properly disclosed

The effects of any change in principles or method must be properly determined and disclosed.

Open this question →

How to practise

  1. Choose a Auditor's Report question and try to work out your answer.
  2. Open the question to check the correct answer and read its worked solution.
  3. Continue in the app for bite-sized lessons, explanations and review with Quill. You can start without creating an account.

More Auditing topics

Overview 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 StatementsAudit Planning Strategy and Execution