MSO Audit

  1. The Comptroller and Auditor General of India derives his authority and functions mainly from the provisions of ________.
    1. Articles 148 to 151 of the Constitution of India
    2. Articles 147 to 150 of the Constitution of India
    3. Articles 150to 154 of the Constitution of India
    4. Articles 150 to 155 of the COnstitution of India
  2. Accounts which relate to the expenditure brought to account during a financial year, to the several items specified in the law made in accordance with the provisions of the Constitution or of the Government of Union Territories Act, 1963 (20 of 1963) for the appropriation of moneys out of the Consolidated Fund of India or of a State, or of a Union Territory having a Legislative Assembly, as the case may be is called
    1. Appropriation Accounts
    2. Finance Accounts
    3. Balance Sheet
    4. Annual Financial Statement
  3. In audit of revenue receipts, Audit has to examine the judicial decisions or judgements with a view to:
    1. check whether the judgement was sound and in the accordance with the provisions of the respective acts
    2. check whether the judgement was onsistent with the previous judgement or judgement of a higher court
    3. check whether the revenue authorities has submitted appeals to ensure that no loss of revenue occurred due to erroneous judgements
    4. check the effectiveness of the assessment procedures and recovery procedures in the light of the judgement
  4. Tax audits are primarily legality and regularity audit, when auditing the application of tax laws, Audit should examine the system and efficiency of tax collection. Which of the following statement would be appropriate in case of a tax audit?
    1. The Audit is empowered to audit the ollection of taxes as extensively as possible and to examine individual tax files
    2. The Audit is not empowered to audit the colletion of taxes extensively
    3. The Audit is not empowered to examine individual tax files
    4. The Audit is empowered to audit the collection of taxes but not empowered to examine individual tax files
  5. Which of the following procedure could be adopted, according to the MSO (Audit) issued by CAG, while auditing the accounts of furniture in the residences of high officials?
    1. The high official can be asked to vacate the house during a specified day during the audit period and the audit staff along with the department staff could verify the furniture stock with actual stock.
    2. The high official can be asked to certify to the effect that he uses the furniture in the residence only for his official purpose and no furniture is used for his personal purpose.
    3. Audit may require, where necessary, the furnishing by the executive authority nominated for the purpose of an annual certificate of verification incorporating the details of verification.
    4. The furniture supplied to the residence of a high level officer need not be audited.
  6. Which of the following statements is NOT correct with regard to the submission of utilisation certifiate for a grant?
    1. Ministries and departments of the Central Government are not required to furnish utilisation certificate
    2. State Governments directly incurring expenditure out of Central grants are also not required to furnish utilisation certificates
    3. In respect of expenditure out of central grants incurred by the state government through local bodies and co-operative institutions , there is no need of furnishing the utilisation certifiates
    4. All of the above
  7. In public works department, the position responsible for undertaking preliminary check in works transaction is called:
    1. PWD Auditor
    2. Divisional Accountant
    3. Subordinate Accountant
    4. State Acountant
  8. Conmtroller and Auditor General of India's Manual of Standing Order is issued under:
    1. Section 23 of the CAG's DPC Act
    2. Section 24 of the CAG's DPC Act
    3. Chapter 4 of the Manual of Office Procedure
    4. Chapter 3 of the Manual of Office Procedure
  9. Which of the following agency is entrusted with the responsibility of ensuring a uniform policy of accounting and audit in the government sector as a whole in India?
    1. Institute of Chartered Accountants of India
    2. The Comptroller and Auditor General of India
    3. The Controller General of Accounts
    4. The Ministry of Finance, Government of India
  10. Which of the following entities can be treated as entities managing public money?    1) Central Government     2) State government     3) Government companies established under companies act     4) Government autonomous bodies
    1. 1 and 2
    2. 1,2,3 and 4
    3. 1 and 3
    4. 1,2 and 4
  11. An auditor and audit institution should maintain independence. This include independence from:       1) The Legislature      2) The Audited Entity      3) The Executive.
    1. Only 2
    2. Both 2 and 3
    3. Only 3
    4. 1,2 and 3
  12. Which of the following are considered quality assurance activities?
      1. Report to management on progress against budget
      2. Report to management on progress against schedule
      3. Supervision
      4. Allocation of responsibilities
    1. only 1, 3 and 4
    2. only 1 and 4
    3. only 3 and 4
    4. all of the above
  13. Selection of audit topics for performance audits should be determined on which of the following stages of the audit?
    1. pre-study
    2. research and evaluation
    3. main study
    4. none of the above

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