Misclassification of revenue expenditure resulting in a saving in a grant when in fact there has been an excess is an example of.

Related MCQs

• If some item of revenue expenditure is misclassified as capital expenditure, it can be said that this objective is not met
• The following types of financial statements are audited in respect of Union, State and UT Governments i Finance Accounts ii Appropriation Accounts iii Balance Sheet iv Statements of Expenditure
• Which of these is the correct set of general financial audit objectives for income & expenditure account
• Insurance relating to the year 2013-14 was paid in 2012-13 in advance. The same was however booked as expenditure in 2012-13. This does not meet the objective of
• For accounts prepared on cash basis, in respect of gross receipts/expenditure, materiality percentage would be
• The International Standards of Auditing (ISAs) have been developed by
• If the financial statements properly present receipts and payments or give a true and fair view and have been prepared in accordance with relevant accounting requirements, the auditor
• There is a direct relationship between materiality level and the level of audit risk
• The process for identifying material risk factors has ____ key stages
• These are performed if the audit team has not identified risks that could lead to material misstatement and no reliance is planned to be placed on controls.