Principles of Auditing Intro

Audit means to check ____

• Employees

• Management

• Financial Statements

• Market

Who can do audit?

• Accountant

• Manager

• Salesman

• Auditor

A systematic process of recording financial information of a company is known as Accounting.

• True

• False

The latin word for audit is

• Auditor

• Audire

• Auditing

• None

Audire means

• to write

• to speak

• to hear

• None

The rules related to audit started in India during the British empire

• True

• False

In the initial stage auditing was not ____ for all

• compulsory

• voluntary

• specific

• none

In 1956, after the implementation of ____ Act audit for companies was made compulsory

• Companies

• Income Tax

• Consitutional

• Labour Laws

In which year Chartered Accountant Act came into effect in India

• 1857

• 1949

• 1961

• 2011

Audit is an dependent examination of financial statements

• True

• False