5 Questions
What is the primary objective of auditing?
Detection of fraud and errors
Which type of audit focuses on verifying compliance with laws and regulations?
External audit
What is one of the key functions of internal control in auditing?
Safeguarding assets and ensuring accuracy of financial records
Which audit technique involves checking a sample of transactions for accuracy and compliance?
Substantive testing
What is the purpose of a routine checking program in auditing?
To identify irregularities and deviations from standard procedures
Test your knowledge on the nature and objectives of auditing, types of audit techniques, internal control procedures, and routine checking programs in audits.
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