St.

Anthony’s TVET College Emdibir

Department of Accounting And Finance

Level 4: Perform Auditing and reporting
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1.Society has always concerned about compliance with laws and regulations by all types of
organizations.

A. Financial Statement Audit B. Performance Audit C. Compliance Audits

D. None
2. These are a group of auditors who examine the records supporting the financial
reports of an enterprise and give an opinion regarding their fairness and reliability.
A. Certified public accountants B. Government Auditors C. Internal auditors
D. All

3. The Internal auditor is responsible to ascertain whether assets of the businesses are
accounted for & safeguarded form losses of all kinds.
A. True B. False
4. The need for dependable financial information by different groups of society is related
to the decisions they make.

A. Investor B. Government C. Lenders-bankers D. All

5. There are various conditions or reasons for the need of financial statement audit .These are

A. Remoteness B. Government Auditors C. Performance Audit D.none

6. Auditing standards are generally guidelines to aid auditors in fulfilling their professional
responsibilities in the audit of financial statement.
A. True B. False
7. ………………………is, therefore, the means by which the auditors formally communicates the
results of his /her/audit to the members of the company as well as to the readers of financial
statements, such as creditors, financial institutions, and all others who have a stack in the
company or wish to acquire a stake or transact with the company.
A. Government B. auditors report C. Remoteness D . All
8. The standard report express a “ clean opinion” and may be issued only when the two conditions listed
in the preceding sections have been met and when no conditions requiring explanatory language exists.

A Unqualified report B. Qualified opinions C. Adverse Opinions