List of top Commerce Questions on Audit

Arrange the following steps in Audit process in the correct order: (A). Formulation of audit plan.
(B). Issuance of audit report.
(C). Engagement of auditor
(D). Performing substantive procedures.

Mr. Ram is a Chartered Accountant in practice. His sister is the CEO of XYZ Limited. State whether Mr. Ram is qualified or disqualified to be an auditor of the ABC Limited, which is a subsidiary company of XYZ Limited.

Audit carried out throughout the year to check effectiveness of internal control system of the organization is called: