[Solved] Joint audit implies

Joint audit implies

a) Audit of two concerns together

b) Audit of joint stock companies

c) Audit of joint sector companies

d) Audit by two firms of C.A

Answer: (d) Joint audit implies audit by two firms of C.A. A joint audit exists as an audit on a legal entity (the auditee) by two or more auditors to create a single audit report, thereby transferring responsibility for the audit. A standard joint audit includes audit planning conducted together and fieldwork assigned to the auditors.

More MCQ and Answers on Auditing

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  3. Internal audit means
  4. Internal audit is
  5. Detection of errors and fraud in audit is  
  6. Internal auditor is appointed and removed by the  
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