FREE CGAP Types of Auditing Questions and Answers

Question 1

When audit is carried out throughout the year at regular or sporadic intervals, it is known as:

Accepted Answer

Continuous Audit.

Answer

Interim Audit.

Answer

Internal Audit.

Answer

Statutory Audit.

Question 2

The year-end audit is also known as:

Accepted Answer

Periodical audit.

Answer

Operational audit.

Answer

Efficiency audit.

Answer

Standard audit.

Question 3

Between two annual audits, an audit is undertaken, and is referred to as:

Accepted Answer

Interim audit.

Answer

Between two annual audits, an audit is undertaken, and is referred to as:
Operational audit.

Answer

Standard audit.

Answer

Periodical audit.

Question 4

The audit, which is not mandated by law but is carried out at the request of owners, is referred to as:

Accepted Answer

Private audit.

Answer

Efficiency audit.

Answer

Operational Audit.

Answer

Balance sheet audit.

Question 5

the audit of government agencies and offices is referred to as:

Accepted Answer

Government audit.

Answer

Periodical audit.

Answer

Tax audit.

Answer

Efficiency audit.

Question 6

Government audit is carried out by the following department, which is maintained by the Indian government:

Accepted Answer

Accounts and Audit Department.

Answer

GST and Audit Department.

Answer

Tax and Audit Department.

Answer

Cost and Audit Department.

Question 7

The department in charge of accounts and audits is:

Accepted Answer

Comptroller and Auditor General of India.

Answer

Prime Minister.

Answer

Ministry of finance.

Answer

Home Minister.

Question 8

Accounts audited by company personnel is referred to as:

Accepted Answer

Internal Audit.

Answer

Continuous Audit.

Answer

Interim Audit.

Answer

Statutory Audit.

Question 9

An audit is required for:

Accepted Answer

All of the above.

Answer

Trust and Co-operative societies.

Answer

Companies formed under Special Act of Parliament.

Answer

Companies.

Question 10

Statutory audits are also referred to as:

Accepted Answer

All of the above.

Answer

Financial statements audit.

Answer

Compulsory audit.

Answer

Financial Audit.