Which of the following is not true about opinion on financial statements?
A. The auditor should express an opinion on financial statements.
B. His opinion is no guarantee to future viability of business
© He is responsible for detection and prevention of frauds and errors in financial statements
D. He should examine whether recognised accounting principle have been consistently
3
Internal auditors are responsible to...
A. both B and D
B, management.
C. neither B nor D
D. the board of directors.
4. Which of the following is not a similarity between external and internal auditors?
A. Both must be independent of the company.
B. Both must be competent.
C. Both use similar methodologies in performing their work.
D. Both consider risk and materiality in their work
5. Auditing standards ... external auditors to use the internal auditors for direct assistance on the a
A. Discourage
B. Prohibit
C. Encourage
D. Permit
Answers: 3
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Which of the following is not true about opinion on financial statements?
A. The auditor should exp...
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