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CA Final Institute of Chartered Accountants of India — practice questions — page 2

Explore 47 free Institute of Chartered Accountants of India questions in CA Final Auditing. Open each question or exercise to read its content, reference answers and available explanation.

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Institute of Chartered Accountants of India questions and exercises with answers

Showing questions 31–47 of 47.

Which 2006 rules made accounting standards statutory?Read the answer and worked solution →What did the 1948 expert committee recommend?Read the answer and worked solution →A restricted certificate allowed practice where?Read the answer and worked solution →Which is a basic independence requirement for auditors?Read the answer and worked solution →A partner also acts as client's financial controller. What is breached?Read the answer and worked solution →Which of these is one of the five categories of threats to independence named in the IESBA Code of Ethics?Read the answer and worked solution →Twenty years of close ties with a client create which threat?Read the answer and worked solution →What is auditor independence commonly called in relation to the auditing profession?Read the answer and worked solution →Management blocks access to ledgers. Which independence is hit?Read the answer and worked solution →What is real independence also known as?Read the answer and worked solution →Why can very low audit fees hurt independence?Read the answer and worked solution →Large non-audit fees from an audit client raise what concern?Read the answer and worked solution →To whom should an internal auditor report directly to preserve independence?Read the answer and worked solution →Which 1964 case recognised liability for negligent statements?Read the answer and worked solution →Which case narrowed the Hedley Byrne duty-of-care test?Read the answer and worked solution →With contract and tort liability together, damages are?Read the answer and worked solution →A professional claims skills above ordinary. Standard of care?Read the answer and worked solution →

Worked practice questions

Which 2006 rules made accounting standards statutory?

  1. Income-tax Rules, 2006
  2. SEBI Listing Rules, 2006
  3. Companies Audit Rules, 2006
  4. Accounting Standards Rules, 2006
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Correct answer: D. Accounting Standards Rules, 2006

The Government notified the Companies (Accounting Standards) Rules in 2006, which made compliance with the standards statutory.

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What did the 1948 expert committee recommend?

  1. An autonomous accountants body
  2. Governor General control
  3. Abolishing auditor licences
  4. Provincial regulation
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Correct answer: A. An autonomous accountants body

Finding the profession largely unregulated, the committee recommended an autonomous association, which led to the 1949 Act.

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A restricted certificate allowed practice where?

  1. Anywhere across India
  2. Within the issuing province
  3. Only for one company
  4. Presidency towns only
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Correct answer: B. Within the issuing province

A restricted certificate allowed practice only within the province of issue and in the language specified in the certificate.

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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