Clear CA Inter with Shubham Keswani

Gdrive Link (RTP, MTP New Questions) https://drive.google.com/drive/folders/1FMH6e6U4PWJlaU2qcpLFFc2amGo_9SDD?usp=drive_link Discussion video: https://youtu.be/9PuMWcXV2zs Success in Sep'26 ❤️

5. Which of the following isn’t used by auditor for measuring and reviewing financial performance: a) Period-on-period financial performance analyses. b) Budgets, forecasts, variance analyses, and departmental or other level performance reports. c) Credit rating agency reports d) All of them are used

4. You have been appointed as statutory auditor of a company for the first time. It has become very important for you to understand the company and its environment. Which of the following activities are not expected to be included in your attempts to know about the company and its environment? a) Gaining a knowledge about debt structure of the company b) Evaluating whether company’s accounting policies are appropriate for its business c) Understanding business risks faced by the company d) Gathering evidence about valuation of trade receivables of the company

3. Because the assessment of the risk of material misstatement takes account of internal control, a) the extent of substantive procedures may need to be increased irrespective of the results from tests of controls. b) the extent of substantive procedures may need to be increased when the results from tests of controls are satisfactory. c) the extent of substantive procedures may need to be decreased when the results from tests of controls are unsatisfactory. d) the extent of substantive procedures may need to be increased when the results from tests of controls are unsatisfactory.

3 more to go!

2. Which of the following is incorrect For the purpose of Identifying and assessing the risks of material misstatement, the auditor shall : a) Identify risks throughout the process of obtaining an understanding of the entity and its environment, including relevant controls that relate to the risks, and by considering the classes of transactions, account balances, and disclosures in the financial statements; b) Assess the identified risks, and evaluate whether they relate more pervasively to the financial statements as a whole and potentially affect many assertions; c) Relate the identified risks to what can go wrong at the assertion level, taking account of relevant controls that the auditor intends to test; and d) Not consider the like likelihood of misstatement, including the possibility of multiple misstatements, and whether the potential misstatement is of a magnitude that could result in a material misstatement.

1. Statement 1:- Substantive Procedures alone can provide sufficient and appropriate audit evidence at the assertion level. Statement 2:-Test of Controls are audit procedures designed to evaluate the operating effectiveness of controls in prevention, detection and correcting material misstatement at the assertion level. a) Only Statement 1 is correct b) Only Statement 2 is correct c) Both 1 & 2 are correct d) Both 1 & 2 are incorrect

Clear CA Inter with Shubham Keswani pinned a file

Gdrive Link (RTP, MTP New Questions) https://drive.google.com/drive/folders/1FMH6e6U4PWJlaU2qcpLFFc2amGo_9SDD?usp=drive_link Discussion video: https://youtu.be/9PuMWcXV2zs Success in Sep'26 ❤️

Ab Audit mein 60+ Pakke! MCQs will do tomorrow at 11 am. Dhoom machado❤️ https://youtu.be/9PuMWcXV2zs