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Professional skepticism is an essential mindset for auditors. It involves maintaining a questioning and critical attitude when assessing audit evidence. Auditors with professional skepticism are not easily swayed by management assertions or documents, but instead seek to obtain sufficient and appropriate evidence to support their conclusions. This attitude helps auditors to objectively evaluate the reliability and integrity of financial information, identify potential misstatements or fraud, and ensure the overall quality and credibility of the audit process.
Policy that can be cancelled or have the premium s raised by the insurer on a specific anniversary date, subject to certain reasons written into the pol...
There is unlimited coverage to Third parties injury and Third party property damage is covered up to a sum of Rs ______.
What is the term used to describe the process of transferring a portion of risk to another insurer?
Consider the following statement:
I. NCB is given to the insured and not to the insured vehicle.
II. On transfer of the vehicle, the ...
What is the primary characteristic of a "soft market" in insurance?
Which of the following is an example of Broad Form Insurance?
A policy that covers the cost of repairing or replacing damaged boilers and pressure vessels is:
A 'Cover Note' in motor insurance is:
Written words in a policy take precedence over:
Insurance is primarily a method of: