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Question No 1

Audit standards were developed and are followed for all of the following reasons EXCEPT:

Choose the Choices:

To provide uniform guidance to auditors and to establish a basis for conducting internal andexternal reviews of quality audits.

To build credibility and confidence in the auditing profession.

To inform customers (the public, public officials, management, stockholders, etc.) about therole of auditing.

Audit staff qualifications and Quality control

Question No 2

All of the following groups benefit from the existence of audit standards in a variety of waysEXCEPT:

Choose the Choices:

Elected officials and the public receive increased assurance that public funds are beingeffectively used and monitored

Government organization

Management receives increased assurance that fraud or other organizational deficiencies willbe detected and corrected.

External parties and reviewers are provided with usable measurement guidelines.

Question No 3

Governmental auditing is distinctive and encompasses different requirements from auditingcommercial or not - for - profit enterprises. The standards that apply specifically to governmentaudits are all of the following EXCEPT:

Choose the Choices:

International Auditing and Assurance Standards Board (IAASB).

International Standards for the Professional Practice of Internal Auditing (ISPPIA).

International Standards on Auditing (ISA).

International Organization of Supreme Audit Institutions (INTOSAI) Standards.

Question No 4

The ____________ promulgates standards for government organizations. INTOSAI standardsare a model for government audit standards, established and endorsed by the INTOSAIorganization, but which must be adopted and/or modified by the _________ of any specificcountry in order to be used?

Choose the Choices:

Supreme Audit Institution (SAI), International Organization of Supreme Audit Institutions(INTOSAI)

International Organization of Supreme Audit Institutions (INTOSAI), International Standardsfor the Professional Practice of Internal Auditing (ISPPIA)

International Organization of Supreme Audit Institutions (INTOSAI), Supreme AuditInstitution (SAI)

International Standards for the Professional Practice of Internal Auditing (ISPPIA), SupremeAudit Institution (SAI)

Question No 5

The purpose of the external quality control review is to determine whether the organization’sinternal quality control system is in place and operating effectively to provide reasonableassurance that established policies and procedures and applicable auditing standards are beingfollowed.

Choose the Choices:

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