Question
With reference to Mangroves, consider the following
statements: 1. Mangrove forest usually grow only at Tropical and Subtropical latitudes near equator 2. Mangroves are found in India only along Eastern coast due to delta formation by East flowing rivers Which of the above statements is/are correct?Solution
Mangroves are a group of trees and shrubs growing in coastal intertidal areas marked by low-oxygen soil, slow-moving waters where fresh and salt water mix. Statement 2 is incorrect: In India Mangroves are found along both Western and Eastern coasts.
Which of the following is a primary objective of auditing?
A sale of Rs. 25,000 to A was entered as a sale to B. This is an example of _
Which of the following best describes analytical procedures as per SA 520?
Client has breached debt covenants; lender issued waiver valid for 9 months after balance sheet date. Auditor notes liquidity support from group company...
Process of verifying the documentary evidences of transactions are known as:
An auditor finds material misstatements due to fraud but the management refuses to take corrective action. What should be the auditor’s next step?
An auditor notices that a bank’s internal controls over loan approvals are weak, but substantive testing of balances shows no material misstatements. ...
________ the audit risks _________ the materiality and _______ the audit effort
Which of the following constitutes the most reliable audit evidence?
Late-year reinsurance treaties significantly reduce reported loss ratio. Which step is most relevant to fraud risk of “window dressing”?
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