Professional Documents
Culture Documents
B. Performance
C. Financial
occurred.
A. make
B. do not make
3. The responsibility for the prevention and detection of fraud and error rests
D. None
6. The audit teams should clearly understand that the audit evidence obtained
B. True
audit officers are expected to provide their own judgment regarding the
B. False
C. Lok Ayukta
B. Audit Notes
C. Audit Reports
10. While forwarding the Bond copy of the Audit Reports to Headquarters, the
included in the report together with the money value of the concerned
paras.
B. in the submission note of the file relating to the bond copy, the number
D. None
11. Fraud examination is a part of the normal auditing procedures which includes:
D. None
misinterpretation of facts.
C. a mistake in the application of accounting principles relating to
B. False
14. Fraud involving one or more members of management or those charged with
C. official fraud
D. none
15. An act committed in good faith, which by subsequent turn of events, proves to
B. not a fraud
16. For an act to come within the ambit of ‘Fraud’ which of the following elements
required to be present?
A. The act is intentional on the part of one or more individuals working in
17. Normally any such act which would causes lose to exchequer or be against
B. False
requirements.
A. True
B. False
19. Though traditionally materiality has been one of the prime factors to determine
the audit priority, in case of fraud detection, since the act is illegal, materiality
B. False
21. _________ involves behavior on the part of officials in the public and private
sectors, in which they improperly and unlawfully enrich themselves and those
B. Corruption
C. both
D. none
22. The audit personnel should exercise professional skepticism and professional
B. False
24. When auditors intend to report on fraud and corruption, they should ensure
B. False
25. In determining overall responses to address the risk of fraud, the auditor
should:
A. evaluate the accounting and reporting policies used by using different
sampling methods
B. Incorporate an element of unpredictability in the selection of the nature,
D. None
A. insiders
B. outsiders
A. input
B. output
C. throughput
B. IDEA
C. Oracle
29. It is particularly important for the auditor of the IT system to assess in his audit
the level of ___________ built in and if these are in tune with the sensitivity of
data.
A. Physical access controls
30.The report of the audit party should indicate inter alia _________.
B. main findings
31. _________ means the contractor or supplier claims and receives payment for
the same service or work done or goods supplied under the same or different
contracts
A. Duplicate supply
B. Duplicate payments
C. Second payments
32. All cases of fraud and corruption should be followed up vigorously with
________.
A. the concerned audited entity
C. Both
D. None
33. All significant cases of fraud and corruption should be followed up with the
B. False
auditor to the assessed risk of fraud and the nature, timing and extent
B. Audit report
C. Audit note
C. Lok Ayukta
place and when the auditor has adequate evidence to support the
B. False
B. Special Specifications
C. Manipulated Specifications
D. None
41. ________ means purchases are made from a fake suppier or contractor.
A. Fake Contractor
B. Phantom Contractor
C. Splitting of purchases
D. None
42. Under ‘Splitting of Purchases’, the purchases of goods and services are split
___________.
A. to avoid open competition
C. Both
D. None
43. ________ means the contractor falsifies the goods specifications or his ability
B. False specifications
C. False agreements
44.___________ means public funds are used to acquire goods for personal use
A. the contractor or supplier submits invoices for goods that have not
been delievered.
B. the invoices do not properly represent the quantity or quality of goods
specifications.
D. All of the above
B. defective invoice
C. defective pricing
47. _________ means contracts are awarded on the basis of vested interests of
B. Conflict of contracts
C. Vested interests
C. Artificial Bidding