WorksheetsNATURE OF AUDITING
Total questions: 6
Worksheet time: 5mins
Auditing is ________ of an organization to ascertain how far the financial statement and non-financial disclosures present a true and fair view of the concern.
systematic and independent examination of book
systematic and independent examination of accounts
systematic and independent examination of statutory records
systematic and independent examination of documents and vouchers
Purpose of audit _______
to detect errors in accounting records
to detect frauds in financial statement
to make correction in accounting records
to check mathematical error
Differentiate an auditing and accounting
Audit is to express a true and fair view of financial statements
Accounting is a process that creates financial statements
Audit concern with examining and evaluate the financial statements
Accounting concern with the analysis of transactions.
Importance of auditing in organization___
Identifying and correcting errors
Fraud prevention
Safeguarding assets
Preparing proper financial reports
Types of auditing are
Financial audit
Compliance audit
Operational audit
Types of auditor____
External auditor
Governmental auditor
Internal auditor
Forensic auditor
