Auditing

The Word audit is derived from the Latin word 'audire' which means

• Active

• Listen

• Think

• Search

Under section 146 of the companies act 2013, an auditor has a right to attend any general meeting

• by himself or authorized representative who is not qualified

• by himself only

• Auditor has no duty to attend any general meeting

• by himself or authorized representative who is qualified

In which year the charted Accountants act was passed

• 1947

• 1948

• 1949

• 1950

which of these statements is false

• detection and prevention of errors and fraud are secondary objectives

• the objectives of accounting can be classified into two parts

• primary objectives are also called contingency objectives

• the primary purpose of auditors is report to owners

Auditing begins where ____ends

• Selling

• Production

• Accounting

• Year

Latin word 'audire' means

• To adjust

• To dare

• To hear

• To here

____ is the examination by the auditor of all documentary evidences, which are available to support the authenticity of the transaction entered in the clients record

• Accounting

• Book-Keeping

• Vouching

• Recording

When the auditor is an employee of the organization being audited, the audit is classified as an ____ quality audit

• Internal

• Compliance

• External

• Both A&B

The time required and costs involved in an external audit are much higher as compared to internal audits

• True

• False

Audit is a fact finding process that compares actual results with

• Specified Standards and plans

• Expected results

• Premature results

• Preliminary results