TRẮC NGHIỆM KIỂM TOÁN BẢN TIẾNG ANH

(camzang)

CHAPTER 1: AN OVERVIEW OF AUDITING

1. The main reasons for a financial statement audit are:
a. Detect errors and fraud in financial statements
b. To meet legal requirements
c. Provide users with reasonable assurance about the truthfulness and fairness of
financial statements
d. Reduces managers' responsibility for financial reporting
2. Businesses need independent auditors to audit financial statements because:
a. Management can commit fraud and usually independent auditors will detect these
frauds
b. There are often conflicts of interest between businesses preparing financial reports
and users of financial reports
c.Because there may be errors in account balances that will be corrected by
independent auditors
d. Because internal controls are often unreliable
3. Because internal control is often unreliable. Audited financial reports will
ensure:
a. The information on the financial reports is accurate
b. There is no fraud in the financial reports
c. The unit was well managed
d. Increases the reliability of financial reports
4. The main purposes of performance audit are:
a. Provides assurance that the internal control system is operating as designed
b. To assist independent auditors in auditing financial statements
c. To provide internal audit results on accounting and financial issues to senior
managers of businesses
d. Provides an assessment of an organization's performance in meeting its objectives
5. Who is primarily responsible for the integrity of a bank's financial statements:
a. Head of internal audit department
b. Bank Board of Directors
c. Chief accountant
d. Independent auditors audit these financial statements.
6. Which of the following is not an example of a compliance audit:
a. Audit of bank branches on implementation of loan security regulations
b. Audit of tax authorities for businesses
c. Audit the business at the request of the bank regarding compliance with the terms of
the credit contract
d. Audit a poverty alleviation project for its effectiveness
7. Which of the following types of businesses is not required to have their annual
financial statements independently audited according to the current Law on
Independent Auditing:
a. Enterprises with foreign investment capital
b. Bank
c. Insurance brokerage company
d. Small and medium enterprises.
8. An audit for the purpose of detecting violations of laws and regulations of the
type:
a. Audited financial statements
b. Compliance audit
c. Audit performed
d. Operational audit
9. The most important meaning that auditing activities bring to society is:
a. Increase investors' confidence in the business results of businesses in the
background economy
b. Helps businesses easily raise capital from investors
c. Limit business risks for audited customers
d. Limit information risks for many audiences
10. A director asking an internal auditor to audit a new branch on its
performance is an example of:
a. Operational audit
b. Compliance audit
c. Audited financial statements
d. Independent audit.
11. Audit service products are the following types of products:
a. Requires users to have certain economic knowledge
b. The value increases as more people use it
c. Not consumed during use
d. All right
12. Which of the following statements about auditing standards is most correct:
a. Auditing standards are the preconditions for an auditing firm to sign an audit
contract with a client
b. Auditing standards are general practice guidelines for accountants
c. Auditing standards are the basis to help auditors limit professional risks if they
follow instructions
d. It's all unreasonable.
13. Auditors must be legally responsible to clients because:
a. Not being careful in audit work causes losses to customers
b . Unable to find fraud on financial statements c. It is not possible to express an
opinion on the financial statements
d. Weaknesses in the client's internal control system were not discovered.
14. After ending the contract to provide accounting services to client Y, audit
firm X was invited by Italian client to audit that year's financial statements.
Enterprise X will:
a . Accept the contract because the customer is familiar
b. Do not accept the contract because it violates independence
c. Accepting the contract or not depends on the audit fee
d. All is incorrect
15. The people responsible for signing the audit report are:
a. Legal representative of the audit firm
b. The lead auditor is in charge of the audit
c. Any auditors involved in the audit
d. Legal representative of the auditing firm and practicing auditor in charge of the
audit

CHAPTER 2: INTERNAL CONTROL

1. The purpose of control testing is to check:
a. Effectiveness of control procedures in practice
b. The transactions and balances on the accounting books are reasonable
c. The unit has complied with accounting standards and regulations
d. The unit has complied with quality control regulations
2. Internal control is a process influenced by the Board of Directors and
management. It means:
a. The Board of Directors and management directly inspect all arising operations
b. Control procedures are selected and directly implemented by the Board of Directors
and management
c. Where control procedures are selected and installed depends on the awareness and
attitude of the Board of Directors and management.
d. Control procedures are selected and installed depending on the business scope
decided by the Board of Directors and management.
3. Internal control may encounter limitations because:
a. Control measures are usually aimed at expected violations, not exceptional cases.
b. Employees are reckless, distracted or misunderstand instructions
c. There was collusion by some employees
d. All the above points
4. Internal controls are established to:
a. Serving the internal audit department
b. Realize the goals of unit managers
c. Implement state financial and accounting management regime
d. Helps independent auditors easily plan audits
5. Treasurer and accounting jobs are assigned to 2 people. Here's an example of
the control in action:
a. Appropriate division of responsibilities b. Approval procedures
c. Independent inspection d. Material control
6. The purpose of dividing responsibilities is to:
a. Let employees control each other.
b. If any errors occur, they will be detected quickly.
c. Reduces the opportunity to make and hide mistakes.
d. All of the above
7. Which of the following statements is most reasonable about internal control?
a. Internal controls can prevent all errors or fraud
b. Internal controls are established to help auditors develop an overall plan and
appropriate audit program
c. Auditors need to look for all weaknesses in internal control
d. Auditors explore the client's internal controls to assess the risk of material
misstatements in the financial statements
8. During the audit of financial statements, the auditor's main purpose when
reviewing the unit's internal control is:
a. To have a properly independent attitude towards issues related to the audit.
b. Evaluate the management activities of the audit client's business.
c. Develop recommendations with customers to improve internal controls.
d. Determine the content, scope and time of the audit
9. Which of the following statements is not true:
a. Auditors are not required to fully understand the entire control activities of the
audited entity
b. The auditor must have a deep overall understanding of the audited unit's internal
control similar to the Board of Directors in the process of operating the unit.
c. Risk assessment, including risk of fraud and risk of error
d. The auditor may need to expand the scope of testing of a control when it is
necessary to obtain more convincing audit evidence about the effectiveness of that
control.
10. What part of internal control does the staff development and training policy
relate to?
a. Controlled environment
b. Risk assessment
c. Control operations
d. Monitor
11. Which of the following situations demonstrates ineffectiveness of control
activities?
a . The business does not have a code of conduct for employees to review.
b . Inventory counts are performed at least twice a year.
c. Debt reconciliation fails to detect errors because the staff does not understand the
nature of the errors
d. The board of directors does not have a process to periodically identify and evaluate
risks.
12. Advantages of using flowcharts to describe internal control are:
a. This method is easy to do
b. Flow charts help clearly see the flow of documents and responsibilities of
functional departments
c. The flow chart easily shows how the control agents are installed
d. Answers b and c are correct
13. During the review of internal control, the auditor is not obligated to:
a. Look for all deficiencies in the operation of internal controls.
b. Understanding of control environments and information systems.
c. Determine whether the control procedures related to the audit plan are effective?
d. Perform procedures to learn about the design of internal controls.
14. The principle of division of responsibilities is a principle aimed at:
a. Prevent collusion between employees
b. Prevent errors by each employee and between employees
c. Restrict communication
d. Both the a, b, c are correct
15. Which of the following statements about internal control is unreasonable?
a. The person who supervises and preserves the asset is not the person who keeps the
accounting records for that asset
b. Arising economic operations must be performed before being submitted to the
board of directors for approval.
c. Control activities cannot absolutely ensure that collusion between employees cannot
occur
d. Economic transactions arising require valid supporting documents

CHAPTER 3: RISK ASSESSMENT AND AUDIT PLANNING

1. When planning an audit, auditors use knowledge related to control activities

to:
a. Provide audit opinion
b. Identify the types of material errors that can occur
c. Check account balances
d. Determine the content of the audit report
2. Which of the following factors affects potential risks?
a. The manager's honesty, experience and competence
b. Abnormal pressure
c. Nature of the profession
d. All of the above factors
3. What factors does development risk depend on:
a. Baseline testing time
b. Basic test content
c. Basic test scope
d. All of the above factors
4. Which of the following factors does not affect control risk?
a. Weak control environment
b. Lack of controlled experiments
c. Minimize control procedures
d. Control procedures are ineffective
5. Which of the following is not relevant to the audit firm's risk assessment of its
clients?
a. The development situation of the field in which the customer's business is operating
b. Distributed customer businesses allocate resources into many different areas to
increase profitability
c. Auditor independence
d. Evidence of the business not recording important transactions.
6. The audit procedures in the audit program are designed to
a. Collect audit evidence
b. Helps businesses operate more effectively
c. Protect auditing businesses when litigation occurs
d. Make sure the audit is completed early
7. When assessing control risk, auditors often use which of the following
procedures:
a. Analytical procedures
b. Do it again and observe
c. Compare and confirm
d. Analytical and verification procedures
8. Which of the following cases is most likely to materially affect the financial
statements even though the value is not large:
a. An illegal credit to the parent business was not recorded
b. Some inventory is damaged but no provision is made c. An expenditure on
stationery was not properly approved
d. Provisions are not made for doubtful receivables
9. Based on the control test, the auditor determines control risk at a higher level
than initially assessed. To ensure the level of audit risk as initially planned,
auditors need to:
a. Increased risk of detection
b. Reduce basic tests
c. Increase materiality
d. Reduce detection risk
10. Control risk can be zero if:
a. The unit's internal controls are very well designed
b. Auditors check 100% of operations
c. The auditor strengthens the necessary tests of controls
d. All sentences are wrong
11. When evaluating which errors are material, which of the following is always
correct:
a. Errors greater than 100 million VND are material errors
b. Assessment of material misstatement depends on the auditor's professional
judgment
c. Errors greater than 5% of the total asset value are material errors
d. Revenue errors are material because they affect profits
12. The customer did not carry out periodic monitoring of sales activities. This is
an example of what type of risk?
a. Potential risks
b. Control risk
c. Detection risk
d. Audit risk
13. Which of the following risks is affected by the auditor's sampling method:
a. Potential risks.
b. Detection risk. c. Control risk.
d. Business risks
14. Which of the following documents will be prepared last compared to the
remaining documents:
a. Audit strategy
b. Audit report
c. Audit plan
d. Audit program
15. The results of the preliminary assessment of the enterprise's internal control
system show that the control environment is extremely weak. Auditors should:
a. Increased testing of controls
b. Reduced testing of controls c. Reduced baseline testing
d. All of the above sentences are wrong
CHAPTER 4: PERFORMING FURTHER AUDIT PROCEDURES
1. At what stage of the audit are analytical procedures applied?
a. Audit planning stage.
b. Audit plan implementation phase.
c. Audit completion stage.
d. All three stages above.
2. At the end of the year, ABC enterprise sends a reconciliation letter to confirm
the goods being deposited at BCD enterprise to ensure which of the following is
the basis for the balance of inventory items:
a. Complete and accurate.
b. Existence and rights
c. Evaluate and accuracy
d. Right and complete
3. "The risk that the auditor's conclusion based on examining a sample may be
different from the conclusion reached if the entire population were examined
with the same audit procedure." What is this risk?
a. Sampling risks
b. Non-sampling risks
c. Audit risk
d. Detection risk
4. Explanation letter from the manager:
a. Mainly used for audit planning.
b. Partial replacement for audit tests.
c. Reduces the auditor's responsibility for the audit opinion.
d. The auditor's responsibility cannot be relieved.
5. When collecting audit evidence from two different sources that yield materially
different results, the auditor should:
a. Collect a third piece of evidence and conclude according to the principle of majority
defeating minority.
b. Evidence-based is more reliable.
c. Find out and explain the reasons before concluding.
d. All three statements are correct.
6. Which of the following is appropriate to provide the auditor with the most
assurance about the effective operation of the internal control system.
a. Investigate the customer's personnel.
b. Recalculate account balances.
c. Observe customer employees performing controls.
d. Confirm with parties outside the company.
7. The main reasons for auditors to collect audit evidence are:
a. Form an opinion on the financial statements.
b. Error detection.
c. Evaluate the management system.
d. Evaluate risk control.
8. Physical testing provides definitive evidence of:
a. The entity's ownership of the property
b. Existence of property
c. Presentation and disclosure of asset value
d. Property value assessment
9. Sending a confirmation letter to the bank satisfies which of the following audit
objectives:
a. Reviewed and complete
b. Reviews and permissions
c. Rights and obligations, and existence
d. Existing and complete
10. The amount of evidence to be collected will increase compared to the original
plan if:
a. Detection risk increases
b. Detection risk is reduced
c. Control risk increases
d. Control risk is reduced
11. Which of the following types of evidence is most “appropriate” when auditing
inventory?
a. Inventory inventory minutes witnessed by auditors.
b. Warehouse receipts and warehouse receipts are kept in the accounting department
c. Confirmation from a third party about inventory sent outside the unit
d. All three sentences above are wrong
12. Of the following documentary evidence, which type does the auditor consider
to have the least reliability:
a. The seller's invoice is kept at the unit.
b. Sales invoice of the unit.
c. Material delivery note for production department
d. Bank confirmation sent directly to the auditor
13. Evidence is called complete when:
a. Consistent with audit objectives
b. Sufficient as a reasonable basis for commenting on the financial statements.
c. Has all the appropriate, objective and unbiased properties.
d. Collected at random
14. Which of the following audit procedures is effective in providing evidence for
the “as is” assertion of revenue:
a. Send confirmation letters to customers with balances on the "Debit Accounts"
account
b. From sales documents, make a comparison with the sales journal number and
revenue account
c. From the sales journal, compare with sales invoices and related documents. d. Add
and compare the revenue on the sales journal number, compare it with the sales
account on the number of items.
15. Indicate which of the following statements is most appropriate regarding the
assertion:
a. Assertions are various aspects of items and information in the financial statements
that are asserted by management when they approve the financial statements or make
representations.
b. Assertions are various aspects of items and information in the audit report that are
asserted by the auditor when he or she approves the financial statements or makes
representations.
c. Assertions are aspects that accountants use to approach possible errors in items or
information presented in financial statements.
d. Assertions are aspects that auditors use to approach possible misstatements of items
or information presented in the audit report.

CHAPTER 5: AUDIT COMPLETION AND REPORTING

1. Which of the following statements is correct?
a. When considering the impact of misstatements on the financial statements, auditors
need only consider the misstatements that have been detected without regard to
forecast or estimate misstatements, because such misstatements are not There is
concrete evidence.
b. When considering the impact of misstatements on the financial statements, auditors
must consider both detected misstatements and anticipated misstatements.
c. When considering the impact of misstatements on the financial statements, the
auditor must consider all misstatements and, if corrections are necessary, the auditor
may require the entity to correct both the detected misstatements and the prediction
and estimation errors.
d. Both a,b,c are correct.
2. With the sharp decrease in gasoline prices right after the end of the fiscal year,
as predicted by previous experts, the selling price of commodity A has dropped
deeply below its original price. This is an event that occurs after the balance
sheet date. Auditor's responsibilities for this type of event:
a. There is no need to pay attention to this event because it occurs after the end of the
accounting year 31.12.X0.
b. The auditor must request the adjusting unit to make a provision for inventory
devaluation for this shipment.
c. The auditor requires the unit to clearly state this event in the notes to the financial
statements, there is no need to adjust the figures in the financial statements.
d. The auditor requires the adjusting unit to make a provision for devaluation of
inventory and also clearly states this fact in the notes to the financial statements.
3. Full acceptance is given when:
a. Audited financial statements no longer contain any errors
b. Audited financial statements may contain errors, but they are not material.
c . Financial statements show a business situation with no losses
d. Financial reports are prepared on time
4. Exceptional opinions are raised when:
a. The audited financial statements still have material errors, but do not have a
pervasive effect on the financial statements.
b. The auditor is unable to obtain sufficient appropriate evidence regarding one or
more matters that are material but do not have a pervasive effect on the financial
statements.
c. Both a and b are correct
d . A and B are wrong.
5. Auditors will refuse to give opinions on financial statements in the following
cases:
a. The auditor cannot ensure independence because his wife is the head of the finance
department of the audited unit.
b. The auditor did not witness the inventory count because the audit contract was
signed after the fiscal year end and the auditor was not satisfied with alternative audit
procedures.
c. The auditor disagrees with management regarding material misstatements in the
financial statements.
d. The unit changes its accounting policy without agreeing to disclose this issue in the
report
6. The auditor was unable to witness the treasury audit so he conducted
alternative procedures and collected sufficient appropriate evidence. All other
items have no material errors. The auditor's opinion is:
a. Opinion fully accepted
b. The opinion of full acceptance includes the paragraph "other issues".
c. The opinion fully accepted includes the paragraph "issue that needs emphasis"
d. Refuse to comment
7. The auditor issues a disclaimer of opinion when:
a. There is a material violation of the information in the financial statements compared
to accounting standards and relevant regulations
b. There is a change in applicable accounting policies.
c. There are doubts about material information in the financial statements that the
auditor cannot check. d. All 3 statements are correct
8. When the entity has a very serious legal issue related to litigation and there has
been no court decision at the end of the period, and this issue has been presented
by the entity in the notes to the report. financial statements, in addition to
expressing a formal audit opinion on the financial statements, the auditor will:
a. Add a paragraph with a separate heading “emphasis needed” to draw the user's
attention to the issue.
b. Add a paragraph titled "other issues" to explain the issue more specifically to users.
c. An "emphasis of matter" or "other matter" paragraph may be added depending on
the auditor's choice
d. Just state the appropriate audit opinion, there is no need to add any further
paragraphs on this issue because it is still presented by the entity in the notes to the
financial statements.
9. Which of the following statements is correct?
a. Adverse audit opinions and disclaimers of opinion are both issued when the auditor
is unable to obtain sufficient appropriate evidence regarding matters presented in the
financial statements.
b. Adverse audit opinions and disclaimers of opinion are very rare for auditors to
resort to
c. Adverse audit opinions and disclaimers of opinion are both given when the auditor
has sufficient appropriate evidence of material and pervasive misstatements.
d. Both the a, b, c are wrong
10. Audit report:
a. It is the basis for auditors to evaluate information and make economic decisions
b. A document presenting the final conclusions of the Board of Directors' report
c. Must have the signature of the principal auditor in charge of the audit and the
signature of the Director of the audited unit.
d. It is the product of the audit process that the auditor provides to society and the
auditor must be responsible for his or her opinion on the audit report.
11. Which of the following is not a type of audit opinion:
a. Adverse audit opinion
b. Qualified audit opinion
c. Refuse to comment
d. Opinion partially accepted
12. Based on the sufficient and appropriate audit evidence collected, the auditor
concludes that the errors have a material and pervasive effect on the financial
statements. In this case, the auditor will give an opinion:
a. Opinion fully accepted
b. Qualified audit opinion
c. Contradictory audit opinion
d. Refuse to comment
13. When the auditor is unable to obtain sufficient appropriate audit evidence
and the possible effects of undiscovered misstatements (if any) could be material
and pervasive to the report financial, the auditor will give the following opinion:
a. Opinion fully accepted
b. Qualified audit opinion
c.Adverse audit opinion
d. Refuse to comment
14. The auditor was unable to collect sufficient appropriate audit evidence. The
auditor also assessed the possible effects of undiscovered errors (if any) that may
be material but not pervasive for financial reports. The auditor's opinion would
be:
a. Opinion fully accepted
b. Qualified audit opinion
c. Contradictory audit opinion
d. Refuse to comment
15. Before preparing an audit report, the auditor does not need to:
a. Review the information attached to the financial statements
b. Evaluation of the going concern assumption
c. Evaluation of uncorrected errors
d. All is incorrect

TRUE/FALSE QUESTION AND EXPLAINING

CHAPTER 1: AN OVERVIEW OF AUDITING

1. In October 20X1, the audit firm ended the contract to provide accounting services
to client B. Therefore, the audit firm was not allowed to audit the 20X2 financial
statements for that client.
2. The reason a business asks an independent auditing company to audit its financial
statements is because the audit will relieve managers of their responsibility for the
financial statements.
3. If the audited enterprise is small in scale and has simple production and business
activities, the auditing enterprise does not need to make an audit plan.
4. Worry about the possibility of losing a contract is a risk that affects the auditor's
independence.
5. Practicing auditors of audit firms can perform audit services indefinitely for the
same audit client.
6. The most important meaning of auditing in the economy is to help businesses easily
raise capital from investors.
7. The auditor audits a client whose biological sister is that client's receptionist.
8. Auditing the entire business division at the request of the director regarding
compliance with the business's sales policies is an example of a compliance audit.
9. If the internal audit department in a business works effectively, the business will not
need to hire an independent auditor to audit the financial statements before disclosing
them to shareholders.
10. An audit report with an unqualified opinion is an assurance that the entity will
operate well.

CHAPTER 2: INTERNAL CONTROL

1. Well-designed internal controls can ensure the achievement of business goals.
2. Internal controls are generally ineffective in preventing fraud by senior managers in
the enterprise.
3. When determining that the unit's internal control is not effective, the auditor will
increase the implementation of control tests to reduce control risk.
4. Every month, the internal audit department has a plan to check the operations of the
departments in the unit at the request of the Board of Directors and report this issue to
the Board of Directors and the Board of Supervisors. – This example concerns the
Control Environment department within the internal control components.
5. Documentation is always the best way to obtain evidence about the effectiveness of
controls.
6. When auditing financial statements, auditors are mainly concerned with controls to
prevent and detect material errors in financial statements.
7. Establishing and maintaining internal control is the responsibility of the enterprise's
shareholders.
8. The preservation of marketable securities should be done by the accounting
department.
9. The goal of internal control is to prevent fraud by management.
10. A good control environment will ensure that internal control will operate
effectively.

CHAPTER 3: RISK ASSESSMENT AND AUDIT PLANNING

1. All comments of the auditor related to the financial statements must be clearly
stated in the notes to the enterprise's financial statements.
2. Subsequent audit procedures at the assertion level include analytical procedures and
tests of controls.
3. Analytical procedures are not used during the audit planning stage.
4. Auditing firms should determine that the acceptable level of detection risk is the
same when auditing different businesses
5. Understanding and evaluating internal control is not necessary at the audit planning
stage
6. If other factors remain unchanged, the lower the materiality level, the less evidence
the auditor must collect.
7. Auditors can directly control inherent risks and control risks.
8. The audit plan should be followed if it has been approved by the responsible person
at the audit firm and must not be changed during the audit
9. Auditors only need to draw conclusions presented in the audit report, and do not
need to retain information during the audit process.
10. An error worth 20% of profits is always a material error

CHAPTER 4: PERFORMING FURTHER AUDIT PROCEDURES

1. Effective internal controls will improve the effectiveness of some types of evidence
and reduce the amount of evidence needed
2. Analytical procedures are only effective at the end of the audit process for the final
review of audit data.
3. Bank confirmation letter provides evidence of the existence of bank deposits and
proves the bank deposit balance is properly valued at the appropriate value. 4. The
observation method only provides evidence about the method of performing work at
the time of observation
5. Ineffective internal control of a business is one of the factors leading to auditors
limiting the use of analytical procedures
6. Auditors should not conduct an audit using a fundamental approach because using
this method will not detect all fraudulent errors in the financial statements.
7. Inventory of fixed assets will provide primary evidence of the accuracy of fixed
asset balances
8. If the internal control system is effective, evidence collected within the enterprise is
more authentic than evidence collected from sources outside the company.
9. All comments of the auditor related to the financial statements must be clearly
stated in the notes to the enterprise's financial statements.
10. To eliminate detection risk, auditors should not use sampling testing techniques.

CHAPTER 5: AUDIT COMPLETION AND REPORTING

1. Uncorrected errors are errors that have been discovered by the auditor during the
audit process but have not been adjusted.
1. The "emphasis of matter" paragraph is only used for audit reports with an
unqualified opinion.
2. Adverse audit opinions and qualified opinions have the same thing in that both are
raised only when the auditor is unable to obtain sufficient appropriate audit evidence.
3. The audit report must have two signatures of the auditors participating in that audit
4. Determination of materiality is done during the risk assessment stage, and can be
adjusted during the audit completion stage.
5. An unqualified audit opinion is given by the auditor when the financial statements
after audit are free of any errors.
6. If there is a material inconsistency between management's report and the audited
financial statements, in addition to the stated audit opinion, the auditor must use the
"emphasis of matter" paragraph. ” to emphasize this inconsistency
7. The financial statements were fully accepted by the auditor, which means that the
business situation of the unit is very good and favorable.
8. In addition to the types of audit opinions outlined in VSA 700 and VSA 705, the
auditor may issue another type of opinion appropriate to the specific situation of the
audited entity.
9. In an audit report, there is always only one type of audit opinion
10. The opinion contains an emphatic passage given to emphasize that the financial
statements still have errors, but these errors are not material.