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Questions and Answers
Which of the following is not necessary for the purpose of regulating the profession of auditing in India?
Which of the following is not necessary for the purpose of regulating the profession of auditing in India?
- The Chartered Accountants Act 1949
- Audit code formulated by the Auditor General of India
- The Companies Act 1956
- The income Tax Act 1961 and Income Tax Rules 1962 (correct)
What does the word 'Audit' mean?
What does the word 'Audit' mean?
- To analyze
- To investigate
- To listen (correct)
- To observe
What is the objective of auditing?
What is the objective of auditing?
- To analyze financial statements
- To provide financial advice
- To ensure compliance with tax laws
- To detect and prevent frauds (correct)
What is the method of audit where a few selected transactions are checked?
What is the method of audit where a few selected transactions are checked?
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In the famous case of 'London and General Bank Case', it was decided that an auditor is a...
In the famous case of 'London and General Bank Case', it was decided that an auditor is a...
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