An independent audit is important to readers of financial statements because it

Related MCQs

• Sole proprietary concerns are ______ to get their financial statements audited by independent financial auditors.
• ………………… is the specific guidelines and directions for efficient and effective completion of the audit work on timely and daily basis, so as to minimise audit risk.
• An audit programme is a set of _______ which are to be followed for proper execution of audit.
• Audit programme provides instructions to the audit staff and reduces scope for
• Audit programme helps in fixing the ______for the work done among the audit staff as work done may be traced back to the individual staff members.
• On completion of an audit _______serves the purpose of audit record which may be useful for future reference.
• For what minimum period should audit working papers be retained by audit firm?
• Which of the following statements is, generally, correct about the reliability of audit evidence?
• The auditor has to obtain _______ to substantiate his opinion on the financial statements.
• Which of the following is not true about opinion on financial statements?