Senior Auditor (BS 16) is conducted by FPSC for federal and Gilgit Baltistan government departments. The paper consists of 80% field-related( Professional) multiple-choice questions and 20% English MCQs.The syllabus can be downloaded from the FPSC website in the Syllabi section. Practice this senior auditor MCQs, which are chosen from past papers and are often asked mostly by FPSC and other exams conducted by various testing agencies.
1. Audit of banks is an example of:
A. Statutory Audit
B. Balance Sheet Audit
C. Concurrent Audit
D. All of the above
Ans. All of the above
2. In Pakistan, balance sheet audit is synonymous to
A. Annual Audit
B. Continuous Audit
C. Detailed Audit
D. Statutory Audit
Ans. A. Annual Audit
3. ____________ is a systematic examination of the books and records or a business?
A. Auditing
B. Vouching
C. Verification
D. Checking
Answer A. Auditing
4. Which of the following is not a fact of EPA?
A. Economic Audit
B. Efficiency Audit
C. Expenditure Audit
D. Effectiveness Audit
Ans. C.Expenditure Audit
5. The main object of an audit is _____________?
A. Expression of opinion
B. Detection and Prevention of fraud and error
C. Both (A) and (B)
D. Depends on the type of audit.
Ans. D. Depends on the type of audit.
6. An auditor is like a_______________?
A. Blood haunt
B. Watch dog
C. May both according to situation
D. None of these
Ans. B. Watch dog
7. Why do auditors concentrate their efforts on material items in accounts?
A. Because they are easier to audit
B. Because it reduces the audit time
C. Because the risk to the accounts of their being incorrectly stated is greater
D. Because the directors have asked for it
Ans. C. Because the risk to the accounts of their being incorrectly stated is greater
8. Internal auditor is appointed by ?
A: The management
B. government
C. FBR
D. FIA
Ans. A: The management
9. Scope of financial audit is__________?
A. Financial information
B. Non-financial information
C. Both (a) and (b)
D. None of these
Ans. A. Financial information
10. IFRS 9 explains about?
A. Inventory
B. Accounts Payable
C. Accounts Receivable
D. Expenses
Ans. C. Accounts Receivable