The Primary objective of a financial audit is to

Related MCQs

• Financial (attest) audit includes: i Examination and evaluaion of financial records ii Audit of financial systems and transactions iii Audit of intenal control and internal audit functions iv Evaluation of Compliance with applicable statutes and regulations
• Financial (attest) audit is primarily concerned with expression of audit opinion on a set of financial statements.
• This financial audit objective directly tests for potential overstatement of assets and liabilities
• Financial Audit of Autonomous Bodies receiving financial assistance is governed by ______ of CAG's DPC Act 1971
• what are the audit procedures commonly used to obtain audit assurance?
• Instructions to audit team members on the performance of chosen audit procedures are contained in the
• Financial (attest) audit includes an evaluation of Compliance with applicable statutes and regulations
• Transaction audit essentially seeks to address the following issues of risks to: i Regularity ii Performance iii Propriety iv Financial Control
• Transaction audit is linked to a specific assurance on an individual set of financial Statements in a particular year
• Risks of financial irregularity are always material for the purpose of qualifying audit opinion on the finanicial statements