Nature and Objectives of Auditing Quiz
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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

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