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Questions and Answers
What is the main purpose of auditing?
What is the main purpose of auditing?
- To prepare financial statements according to GAAP & IFARS
- To examine financial statements after they are prepared
- To ensure the accuracy of accounting information in financial statements (correct)
- To distinguish between auditing and accounting
When does auditing occur?
When does auditing occur?
- During the preparation of financial statements
- After the preparation of financial statements (correct)
- At the same time as the preparation of financial statements
- Before the preparation of financial statements
Who is responsible for the process of auditing?
Who is responsible for the process of auditing?
- Financial accountant
- Certified Public Accountant
- Internal auditor
- Independent auditor (correct)
What standards are used for conducting audits?
What standards are used for conducting audits?
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What is the main purpose of reducing information risk through auditing?
What is the main purpose of reducing information risk through auditing?
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