Nature and Objectives of Auditing Quiz
5 Questions
1 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is the primary objective of auditing?

  • Assurance of compliance with laws and regulations
  • Ensuring accurate routine checking programs
  • Verification of internal control
  • Detection of fraud and errors (correct)
  • Which type of audit focuses on verifying compliance with laws and regulations?

  • Internal audit
  • Performance audit
  • External audit (correct)
  • Tax audit
  • What is one of the key functions of internal control in auditing?

  • Ensuring routine checking programs run smoothly
  • Preventing detection of fraud and errors
  • Verifying compliance with laws and regulations
  • Safeguarding assets and ensuring accuracy of financial records (correct)
  • Which audit technique involves checking a sample of transactions for accuracy and compliance?

    <p>Substantive testing</p> Signup and view all the answers

    What is the purpose of a routine checking program in auditing?

    <p>To identify irregularities and deviations from standard procedures</p> Signup and view all the answers

    More Like This

    Auditing Fundamentals: Vouching
    10 questions
    Auditing: An Introduction
    5 questions

    Auditing: An Introduction

    SelfSatisfactionAstrophysics avatar
    SelfSatisfactionAstrophysics
    Use Quizgecko on...
    Browser
    Browser