Auditor

Auditing refers to…

• Preparation and checking of account.

• Examination of accounts of business units only.

• Examination of accounts of professional accountants.

• Checking of vouchers.

Which of the following persons is qualified to be a company auditor?

• An employee of the company.

• A body corporate.

• A person who is indebted to the company for an amount exceeding Rs. 1000.

• A practicing chartered accountant.

What is the Role of an Auditor?

• Analyze company's business transactions and present in a detailed manner.

• Keep track of the expenses.

• Assist the auditors during the audit process.

• To give a professional and independent on these financial statements.

What is the main purpose of accounting?

• ORGANIZE FINANCIAL INFORMATION

• PROVIDE USEFUL, FINANCIAL INFORMATION TO OUTSIDERS

• KEEP TRACK OF COMPANY EXPENSES

• MINIMIZE COMPANY TAXES

Main object of auditing is…?

• Detection of errors.

• To find out whether show true and fair state affairs.

• Detection of frauds.

• Detection and prevention of frauds and errors.

Auditor, in general is an...

• Employee of the company.

• Agent of the company.

• Agent of the shareholders.

• None of the above.

Accounting provides information on…?

• Cost and income for managers

• Company's tax liability for a particular year.

• Financial conditions of an institutions.

• All of the above

What is the Role of an Accountant?

• Ensures that internal controls are effectively working in the organization

• Helps businesses make critical financial decisions by collecting, tracking, and correcting the company's finances.

• To give a professional and independent on these financial statements.

• Analyzes the accounting records of the company