The primary responsibility for safeguarding the audited entity s funds and assets and to prevent frauds or errors lies with its

The primary responsibility for safeguarding the audited entity s funds

1.	The primary responsibility for safeguarding the audited entity s funds and assets and to prevent frauds or errors lies with its
A.	employees
B.	internal auditor
C.	management
D.	statutory auditor
Answer» D. statutory auditor

Discussion

No Comment Found

Related MCQs

Financial (attest) audit includes:i Examination and evaluaion of financial recordsii Audit of financial systems and transactionsiii Audit of intenal control and internal audit functionsiv Evaluation of Compliance with applicable statutes and regulations
The following types of financial statements are audited in respect of Union, State and UT Governmentsi Finance Accountsii Appropriation Accountsiii Balance Sheetiv Statements of Expenditure
Transaction audit essentially seeks to address the following issues of risks to:i Regularityii Performanceiii Proprietyiv Financial Control
The Auditing Standards of the C&AG of India comprise ofi General Standardsii Field Audit Standardsiii Field Standardsiv Reporting Standards
Insurance relating to the year 2013-14 was paid in 2012-13 in advance. The same was however booked as expenditure in 2012-13. This does not meet the objective of
Working papers should be restricted to matters, which are important, pertinent and useful for the purpose. Which is the characteristic that we are talking about?
The primary responsibility for safeguarding the audited entity s funds and assets and to prevent frauds or errors lies with its
Population is divided into groups, each being fairly homogenous with respect to value and risk in this kind of sampling
The three levels of substantive procedures that can be performed in decreasing order of assurance required are:
Instructions to audit team members on the performance of chosen audit procedures are contained in the

The primary responsibility for safeguarding the audited entity s funds and assets and to prevent frauds or errors lies with its

Discussion

No Comment Found

Related MCQs

Reply to Comment