The examination of documentary evidence in support of transactions contained in the books of accounts is referred to as

Related MCQs

• A systematic and independent examination of data ,statements,records,operations,and performance(financial or otherwise) for a stated purpose. In any auditing situation,the auditor perceives and recognizes the propositions before him for examination,collects evidence,evaluates the same and on the basis formulates his judgement which is,communicated through his audit report.” This definition is given by
• The process of substantiation of assets and liabilities recorded in the books of accounts by physical inspection and examination of legal and official documents to form and expert opinion
• Errors occurring when generally accepted accounting principles are not observed while recording any transaction in the books of accounts
• To verify cash transactions, it is necessary
• Transactions entered in the computer as they occur and processed simultaneously in the processing capabilities of accounting system is
• Report issued when the auditor on the basis of sufficient appropriate audit evidence, concludes that misstatements are both material and pervasive to the financial statement
• The process of collecting and evaluating evidence to determine whether a computer system safeguards assets, maintains data integrity, achieves organizational goals effectively, and consumes resources efficiently.
• The Cost auditor is concerned mainly with accounts related to
• The verification of the correctness of cost accounts and of adherence to the cost accounting plan is known as
• Cost audit is the verification of the correctness of cost accounts and adherence to the cost accounting plan. This concept is given by