1. Which of the following is normally the most reliable source of audit evidence?

A) Internal audit
B) Suppliersâ?? statements
C) Board minutes
D) Analytical review



2. â??â??â??â??â??has been defined as the â??checks on day to day transactions which operates continuously as part of routine system whereby the work of one person is provided independently or is complementary to the work of another, the object being the prevention or early detection of errors or fraudâ?

A) Internal check
B) Internal audit
C) Surprise check
D) Internal control



3. Internal financial controls are policies and procedures adopted by company for â??â??â??-

A) Ensuring the orderly and efficient conduct of its business, including adherence to companyâ??s policies
B) The safeguarding of assets
C) The prevention and detection of frauds and errors
D) All of these



4. â??â??â??â??â??is a series of instruction and questions which the auditor should follow and answer.

A) Narrative Records
B) Check List
C) Internal Control Questionnaire
D) Flow Chart



5. The frequency of surprise check is â??â??â??-

A) As prescribed under law
B) As mentioned under SA
C) To be determined by auditor
D) At least 5% of total time devoted to audit