Fastest Fingers First

What is the primary objective of an audit?

• Detect fraud

• Express an opinion on financial statements

• Improve internal controls

• Reduce taxes

Who is responsible for preparing the financial statements?

• The auditor

• Management

• Shareholders

• Internal audit team

What does the term 'true and fair view' refer to?

• Accurate inventory records

• Correct accounting and compliance with standards

• A balanced board of directors

• Proper tax filing

Which of the following is NOT a type of audit opinion?

• Unqualified

• Qualified

• Disclaimed

• Adjusted

Which of these is an example of audit evidence?

• Customer invoices

• Supplier contracts

• Board meeting minutes

• All of the above