10 Questions
What is the main objective of a financial statement audit?
Add credibility to the financial position and performance
What is the key difference between auditing and accounting?
Auditing involves objectively obtaining and evaluating evidence, accounting involves accumulating data
What is the primary role of an internal auditor?
Detecting and preventing fraud within the organization
Which type of auditor focuses on ensuring adherence to organizational procedures and policies?
Operational auditor
What is the main purpose of an operational audit?
Assessing adherence to organizational procedures and policies
In auditing, what does 'reasonable assurance' refer to?
High level of confidence without absolute certainty
Which type of auditor focuses on investigating financial irregularities or suspected fraud?
Forensic auditor
What is the primary difference between an external auditor and an internal auditor?
External auditors evaluate internal controls, internal auditors review adherence to organizational policies.
What is the primary focus of a forensic auditor?
Investigating financial irregularities or suspected fraud.
What does an operational audit mainly focus on?
Evaluating adherence to organizational procedures and policies.
Test your knowledge on different types of auditors and their roles in ensuring accurate financial accounting and operational efficiency. Learn about internal auditors, external auditors, and the responsibilities of an auditor-general.
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