[Solved] Main object of auditing is

Main object of auditing is

a) Detection of errors

b) To find out whether P&L a/c & B/S show true and fair state affairs

c) Detection of frauds

d) Detection and prevention of frauds and errors.

Answer: (b) Main object of auditing is to find out whether P&L a/c & B/S show true and fair state affairs. The objective of an audit is to form an independent opinion on the financial statements of the audited entity. The opinion includes whether the financial statements show a true and fair view, and have been properly prepared in accordance with accounting standards.

More MCQ and Answers on Auditing

  1. Management audit means
  2. Systems audit implies
  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  
  7. The object of internal check is to
  8. Effective internal check system reduces
  9. Internal check is a part of
  10. The objective of internal audit is

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