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Audit: Quiz


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Question 1: ________ of internal control are employed by the organization they audit.
SOX 404 top-down risk assessmentInternal auditSarbanes–Oxley ActEnterprise risk management

Question 2: Audits are performed to ascertain the validity and reliability of information; also to provide an assessment of a system's ________.
Internal controlAccountancyInternal auditSarbanes–Oxley Act

Question 3: Traditionally, audits were mainly associated with gaining information about financial systems and the financial records of a company or a business (see ________).
AccountantFinancial accountancyCertified Public AccountantFinancial audit

Question 4: In the case of ________, a set of financial statements are said to be true and fair when they are free of material misstatements - a concept influenced by both quantitative and qualitative factors.
Certified Public AccountantAccountantFinancial auditFinancial accountancy

Question 5: It is performed by competent, independent and objective person(s) known as auditors or ________, who then issue an auditor's report based on the results of the audit.
AccountantCertified Public AccountantChartered AccountantManagement accounting

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