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Questions and Answers
What is the primary objective of auditing?
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?
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?
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?
Which audit technique involves checking a sample of transactions for accuracy and compliance?
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What is the purpose of a routine checking program in auditing?
What is the purpose of a routine checking program in auditing?
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