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Guide for IDI Performance Audit

Quiz IDI Performance Audit

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Quiz

1/10
Risk Assessment in Auditing
Which of the following best describes the primary role of risk assessment in the auditing process?
Select the answer
1 correct answer
A.
It helps identify and focus on areas with high inherent risk.
B.
It ensures that every area of operation is audited equally.
C.
It primarily aims to detect instances of fraud by the management.
D.
It confirms compliance with statutory regulatory requirements.

Quiz

2/10
Fundamentals of Public Sector Auditing
What is the primary objective of public sector auditing?
Select the answer
1 correct answer
A.
To promote transparency and accountability in the use of public resources
B.
To provide financial consultancy to government entities
C.
To maximize governmental revenue through taxation
D.
To offer legal advice to public officials

Quiz

3/10
International Standards of Supreme Audit Institutions (ISSAIs)
What is the primary goal of International Standards of Supreme Audit Institutions (ISSAIs)?
Select the answer
1 correct answer
A.
To establish a benchmark for auditing practices in governmental auditing.
B.
To provide quality assurance framework and guidance for Supreme Audit Institutions.
C.
To enforce compliance with international financial regulations.
D.
To set standards for private sector auditing practices.

Quiz

4/10
Audit Planning and Strategy
Which phase of audit planning involves identifying areas where there is the greatest risk of misstatement or non-compliance?
Select the answer
1 correct answer
A.
Determining the audit scope and objectives
B.
Risk assessment
C.
Establishing the audit team
D.
Conducting fieldwork

Quiz

5/10
Audit Evidence and Documentation
What is the primary purpose of audit documentation in an audit engagement?
Select the answer
1 correct answer
A.
To support the auditor's conclusions by providing a verifiable record of the work performed and evidence gathered
B.
To serve as a guideline for the auditee during future audits
C.
To meet the administrative requirements of the audit firm
D.
To record every minor incidental event during the audit process

Quiz

6/10
Compliance Auditing Standards
What is the primary purpose of Compliance Auditing Standards in the context of public sector auditing?
Select the answer
1 correct answer
A.
To ensure adherence to laws and regulations
B.
To promote financial profitability
C.
To evaluate managerial performance
D.
To streamline administrative processes

Quiz

7/10
Use of Technology in Auditing
What role does technology play in modern auditing?
Select the answer
1 correct answer
A.
It automates data collection and analysis
B.
It replaces auditors entirely
C.
It is rarely used
D.
It focuses solely on financial data

Quiz

8/10
Performance Auditing Techniques
Which of the following best describes performance auditing?
Select the answer
1 correct answer
A.
Evaluating the economy, efficiency, and effectiveness of government programs
B.
Assessing the financial statements only
C.
Verifying compliance with laws exclusively
D.
Reviewing only internal control systems

Quiz

9/10
Reporting Audit Findings
What is the main objective of reporting audit findings?
Select the answer
1 correct answer
A.
To inform stakeholders about audit results and recommendations
B.
To establish financial accountability without detailing errors
C.
To resolve all internal control issues immediately
D.
To defend the audit process in case of legal challenges

Quiz

10/10
Quality Assurance in Auditing
Which of the following best defines quality assurance in auditing?
Select the answer
1 correct answer
A.
A systematic approach to evaluating the audit process
B.
A mere review of audited documents
C.
An informal discussion about audit results
D.
A checklist used only at the end of an audit
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Info quiz:

  • Quiz name:IDI Performance Audit
  • Total number of questions:509
  • Number of questions for the test:50
  • Pass score:80%

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