Auditing Quizzes, Questions & Answers

Auditing has become a scary word associated with the IRS, taxes, and having to pay money. Auditing involves an outside person or organization reviewing data to ensure that it is accurate and valid, and that it didn’t withhold or play up information. This is typically done in a financial setting but nearly anything can be audited, including security and safety auditing.

When auditing, three financial statements are generally used – what are the three? Only independent auditors can audit a company’s financial data. Using the internal (in house) auditor is against the law. Do you know what the name is of the financial sheet that lays out a business’s transactions? Here’s a hint: It begins with the letter “T”! To keep your accounting knowledge strong, take one of our auditing quizzes now!

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Auditing - Final - Multiple Choice

The final exams for the Audit class are just around the corner and the quiz below is designed to help you pass the quiz by getting rid of the cold feet you may be having. Give it a try and choose the right answer according to...

Questions: 53 | Attempts: 4075 | Last updated: Mar 22, 2023

Sample Question
As a result of analytical procedures, the auditor determines that the gross profit percentage has declined from 30% in the preceding year to 20% in the current year. The auditor should:

Express a qualified opinion due to inability of the client company to continue as a going concern

Evaluate management's performance in causing this decline

Require footnote disclosure

Consider the possibility of a misstatement in the financial statements

Auditing Multiple Choice - Mid-term #2

As you prepare for your midterm exams the quiz below is the second of a series of tests aimed at helping you get an idea of what to expect come exam time. The questions cover most of what you have learnt in class. Try them...

Questions: 61 | Attempts: 2479 | Last updated: Mar 22, 2023

Sample Question
Which of the following is an effective audit planning procedure that helps prevent misunderstandings and inefficient use of audit personnel?

Arrange to make copies, for inclusion in the audit files, of those client supporting documents examined by the auditor.

Arrange to provide the client with copies of the audit programs to be used during the audit.

Arrange a preliminary conference with the client to discuss audit objectives, fees, timing, and other information.

Arrange to have the auditor prepare and post any necessary adjusting or reclassification entries prior to final closing.

Operational Auditing Trivia Quiz

What do you know about auditing? Do you have any idea about operational auditing and how it is done? Here, we have a trivia quiz based on operational auditing to test whether you know the basics of auditing. Operational auditing...

Questions: 10 | Attempts: 9012 | Last updated: Aug 17, 2023

Sample Question
Internal Auditing as defined by the Institute of Internal Auditors (IIA) is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of Risk Management, Control and __________

Business Operations

Governance Processes

All of the above

None of the above

Auditing And Assurance Services Quiz: Trivia!

What do you know about auditing and assurances? Assurance service is an individual professional service, typically offered by chartered or certified public accountants or chartered certified accountants, to advance information...

Questions: 33 | Attempts: 7755 | Last updated: Mar 22, 2023

Sample Question
Compliance audits evaluate the efficiency and effectiveness of any part of an organization's operating procedures and methods.

True

False

The Ultimate Auditing Knowledge Quiz!

One of the ways in which a business can keep track of its books of account is carrying out an audit and finding out if they reflect an accurate and fair view of the financial position. This is an ultimate auditing knowledge quiz...

Questions: 28 | Attempts: 454 | Last updated: Mar 22, 2023

Sample Question
Which answer is not a approach to internal control evaluation.

Evaluates weaknesses

Modify files to improve system

Know what control procedures have been implemented

Find the threats

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MCQ On Auditing

MCQ on Auditing

Questions: 10 | Attempts: 1501 | Last updated: Mar 22, 2023

Sample Question
Various types of quality audits are:

Product

Process

Management (system)

Registration (certification)

All of above

Acct: Financial Reporting Of State And Local Governments. Trivia Quiz!

ACCT: Financial Reporting of State and Local Governments. Trivia Quiz!

Welcome to this ACCT quiz on financial Reporting Of State And Local Governments! Proper reporting of State and Local Governments of their financial position and activities to the public at large is essential, especially for...

Questions: 57 | Attempts: 128 | Last updated: Mar 17, 2023

Sample Question
Under the hierarchy of GAAP for a state and local government, which of the following has the highest level of authority?

AICPA practice bulletins

Consensus positions of the GASB Emerging task force

Implementation guides published by GASB staff

AICPA industry audit and accounting guides

Auditing Chapter 7

Quiz based on Auditing and Assurance Services 14e by Arens

Questions: 51 | Attempts: 1832 | Last updated: Mar 22, 2023

Sample Question
Which of the following forms of evidence is most reliable?

General ledger account balances.

Confirmation of accounts receivable balance received from a customer.

Internal memo explaining the issuance of a credit memo.

Copy of month-end adjusting entries.

Auditing Chapter 12 Quiz

Auditing quiz derived from the 12th chapter of the textbook Auditing and Assurance Services an Intergrated Approach by Arens.

Questions: 8 | Attempts: 853 | Last updated: Mar 22, 2023

Sample Question
IT has several significant effects on an organization. Which of the following would not be important from an auditing perspective?

Organizational changes.

The visibility of information.

The potential for material misstatement.

None of the above; i.e., they are all important.

Auditing, Last 20 Questions Ch 17

auditing, last 20 questions ch 17

This is the last 20 questions of ch 17. there hard as frozen shit.

Questions: 20 | Attempts: 407 | Last updated: Mar 16, 2023

Sample Question
. In which of the following circumstances would an auditor be most likely to express an adverse opinion?

The statements are not in conformity with the FASB Statements regarding the capitalization of leases

Information comes to the auditor's attention that raises substantial doubt about the entity's ability to continue in existence.

The chief executive officer refuses the auditor access to minutes of board of directors' meetings

Tests of controls show that the entity's internal control is so poor that it can not be relied upon

Auditing Final Part 2

This is for chapter 17 the final part of the auditing segment. This will be awesome i can not wait.

Questions: 47 | Attempts: 556 | Last updated: Mar 21, 2023

Sample Question
1. Audit reports should be dated the date on which the financial statements are issued.

T

F

Do You Understand Auditing For Dummies? Take This Quiz

Do you Understand Auditing for Dummies? Take this Quiz

Recurring analysis of a company's operations and maintaining rigorous systems of internal controls can prevent and detect various forms of fraud and other accounting irregularities. The quiz below covers some facts that...

Questions: 5 | Attempts: 225 | Last updated: Oct 24, 2024

Sample Question
What is an Audit?

A luxury car maker.

An examination and review that produces a detailed report of its findings.

A review of your financial activity.

Auditing Mid-term #2 - Short Answers

Auditing Mid-Term #2 - short answers

Short Answer review questions from assigned homework.

Questions: 16 | Attempts: 348 | Last updated: Mar 15, 2023

Auditing Quizzes, Questions & Answers

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