Financial Audit Practice Exam
Financial Audit
The systematic way of verification, examination and evaluation of financial statements of an enterprise is knows as financial audit, this helps the organization to make sure that financial records are fair and correct.
Who should give this exam?
• Finance Executive
• Financial Service Consultant
• Business Accountant
• Audit Assistant
• Financial Audit Manager
• Financial Services Manager
• Financial Manager
• Financial Advisor
• Accountant
• Senior Accountant
• Financial Professionals
• Finance Degree holders
• CA Assistant
Skills Required
• Accounting
• Excel
• Analytical Thinking
• Business Intelligence
• Financial Modelling
• Financial Reporting
• Cash Flow Management
• Mathematics
• Financial Management
• Problem Solving
• Financial Planning
• Budgeting
• Risk Analysis
Career Prospects
• Audit Executive
• Finance Manager
• Senior Auditor
• Financial Auditor
• Audit Manager
• Internal Auditor
• Manager – Internal Audit
Table of Content
Accounting and Auditing
- Introduction to Auditing
- Key accounting terms
- Understand accounting rules
- Distinguish between auditing and accounting.
- Journal entries
Financial Accounting Standards
- GAAP
- Financial auditing process
Financial Statements
- Characteristics of key financial statements
- Trail Balance
- Balance Sheet
- Income statement
- Financial Ratios
Business Processes and Accounting
- Management-level reporting
- Consolidated financial statement-level reporting
- Financial Analysis
- Revenue process activities
- Procurement process activities
- Fixed asset process activities
- Revenue, liability, and inventory-related ratios
- Risk Assessment
Auditors Professional Conduct
- Need for the auditor
- Code of professional conduct
- Principles and legal rules
- The legal liability of an auditor
- Audit evidence
- Stages of a modern audit
- Planning the audit
Review of Accounting Systems and Internal controls
- Primary objectives of effective internal control
- Auditor’s responsibilities
- Internal control framework
- Evaluating, reporting and testing
- Auditors Reports
What do we offer?
- Full-Length Mock Test with unique questions in each test set
- Practice objective questions with section-wise scores
- In-depth and exhaustive explanation for every question
- Reliable exam reports to evaluate strengths and weaknesses
- Latest Questions with an updated version
- Tips & Tricks to crack the test
- Unlimited access
What are our Practice Exams?
- Practice exams have been designed by professionals and domain experts that simulate real time exam scenario.
- Practice exam questions have been created on the basis of content outlined in the official documentation.
- Each set in the practice exam contains unique questions built with the intent to provide real-time experience to the candidates as well as gain more confidence during exam preparation.
- Practice exams help to self-evaluate against the exam content and work towards building strength to clear the exam.
- You can also create your own practice exam based on your choice and preference
