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CMA Final Exam: Cost and Management Audit
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The syllabus (with weightage):
A. Cost Audit 35%
B. Management Audit 15%
C. Internal Audit, Operational Audit and other related issues 25%
D. Case Study on Performance Analysis 25%

Related Test: CMA Intermediate Exam: Auditing

CMA Final Exam: Cost and Management Audit
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25 Questions

1. Aspects may be taken into consideration for proper inventory control
2. The CCRA
3. Operational Audit can lead to better management with the focus on_____________.
4. A cotton textile mill had cumulative waste percentage of 8% in Blow Room, 6% in Carding, 4% in Drawing, 4% in Simplex and 9% in Ring Frame. For an input of 1000 kg. of cotton in Blow Room, the output at Ring Frame is _________.
5. Exemptions from application of the Rules are provided to Companies whose revenue from exports, in foreign exchange, exceeds ________________ of total revenue and companies operating from Special Economic Zones.
6. The Companies are required to maintain Cost Records if turnover exceeds ____________ crores or more during immediately preceding Financial Year in respect of the products and services specified
7. Product and Profitability Statement (For audited products/services) is shown under ______________ of Annexure to Cost Audit Report.
8. Management audit _______________ on financial matters.
9. CAS-20 deals with ___________
10. The management auditor shall consider in the evaluation of capacity utilization
11. Internal control system can be comprised of
12. Cost auditing standards preface to the standards on auditing, quality control review and related services rendered by the cost accountant has been issued by _________.
13. The cost audit report under CCRA
14. Which one of the following is covered under performance analysis report
15. Item appearing only in Cost Records is _____________.
16. The turnover criteria for applicability of CCRA
17. Costing is an important tool in _____________ organizational performance in terms of shareholder and stakeholder value.
18. There is no requirement of Audit Working Papers while conducting audit and they only result in loss of time.
19. CAS 23 deals with .........................................
20. NGO(s) are incorporated under
21. Financial Administration of Local Bodies includes
22. Under
23. The Central Govt. released the CCRA
24. Who can be appointed as Internal Auditor as per the Companies Act, 2013
25. The cost auditing standards deal with the __________ of the cost auditor.

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