Audit RFET exam (80 questions)

Questions for verification:
1. Internal audit standards MAY not contain:
(a) manuals and instructions;
b) accounting data;
C) rules contrary to the laws relating to audit.
2. List of audit-related services:
a) is established by Federal standards of audit activity;
b) is limited and fixed in the Federal law " on audit activity»;
C) can be changed and supplemented in the course of change of types of activity by audit firms.
3. Audit organization "Audit-Pro" annually conducts a mandatory audit of the insurance company "Stiff". Which of the services auditors from "Audit-Pro" can afford to provide insurance company?
(a) Restoration of accounting records;
b) accounting;
C) Analysis of financial and economic activity.
4. Audit service "accounting" is provided by audit firms:
a) before the audit (if desired by the customer);
b) all customers, as required by the law " on accounting»;
C) new (newly created) enterprises or enterprises that do not have qualified accounting personnel.
Three

5. Accounting by the auditor may NOT be carried out:
a) at the enterprise where within 3 years audits by other audit organization were carried out;
b) at the enterprise where the auditor conducts a mandatory annual audit;
C) in an audit firm, based on the client´s primary documents.
6. The service" restoration of accounting " is required when::
(a) the enterprise has been in operation for some time, but accounting has either not been maintained or has been partially maintained;
b) the enterprise is new (newly created);
C) accounting documentation was made incorrectly.
7. The audit service "analysis of financial and economic activity" is performed by auditors in cases when:
(a) an inventory is planned;
b) the administration of the organization wants to understand the reasons for the deterioration of the financial condition of the enterprise;
C) at the enterprise there is a change of the financially responsible person.
8. The auditor is:
(a) a natural person holding a business licence;
b) the accountant performing functions of control at the enterprise that is fixed in internal organizational documents;
C) an individual who meets the qualification requirements and has a qualification certificate of the auditor.
Four

9. The qualification certificate of the auditor is:
a) a document confirming the availability of the necessary qualifications for the audit;
b) a document, symbolizing the end of high school in some Economics;
C) a document issued by the audit firm to its specialist at the end of the probation period.
10. Auditor´s qualification certificate:
(a) is indefinite but must be renewed annually;
b) is indefinite and does not require extension;
C) must be confirmed every 5 years.
11. The qualification certificate of the auditor can be liquidated if it is not demanded (not used) from the moment of its receipt within:
a) 3 years;
b) 2 years;
C) six months.
12. An audit firm may engage in audit activities if::
(a) it is a member of the SOA;
b) all employees have qualification certificates;
C) all employees have a license for audit activity and qualification certificates.
31. Audit risk is a risk:
a) the auditor to make a mistake in the calculations;
b) issuance of an incorrect audit opinion;
C) the audit firm to receive less profit.
32. In domestic and foreign audit practice the significance of materiality is usually:
(a) 5-10 %;
b) 1-3 %;
C) 0.01-1%.
63. Internal audit is usually used:
(a) large companies;
b) small companies;
C) all companies.
80. Internal audit standards are being developed:
a) the Ministry of Finance;
b) independently audit organization;
C) President of the Russian Federation.