Question
Which test is used when sample size is large (>30) and
population standard deviation is known?Solution
Z-test is used when sample size is large (>30) and population standard deviation is known.
During the audit of ABC Ltd., the auditor identifies that a major debtor who owed â‚ą2 crore has declared bankruptcy post year-end but before signing of...
An auditor identifies a material misstatement due to fraud in financial statements. What should be his immediate course of action?
Late-year reinsurance treaties significantly reduce reported loss ratio. Which step is most relevant to fraud risk of “window dressing”?
An auditor concludes financial statements give a true and fair view, except that inventory of Rs. 50 lakh was not physically verified due to management ...
Internal audit is conducted to:
Vouching primarily relates to:
Going Concern assumption is the responsibility of:
A statutory auditor of a listed company evaluates whether the going concern assumption holds. He observes continuous losses, negative net worth, and pen...
Which of the following provides the most reliable audit evidence?
Why must auditors obtain an understanding of internal control even if they do not intend to rely on it?
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