Question

Which of the following statements regarding an auditor's responsibilities is FALSE?

A Auditor is not expected to perform duties that fall outside the domain of his competence.

B Auditors are responsible for obtaining absolute level of assurance about whether the financial statements as a whole are free from material misstatement.

C Audit is not an official investigation into alleged wrong doing.

D Auditors are not responsible for detecting all instances of fraud within a company.

Practice Next

More Accounts Questions

Which of the following is a feature of Operating Lease according to Accounting Standard 19?
Under SA 240, the auditor’s responsibility relates to identifying and assessing risks of material misstatement due to fraud. If a whistleblower informs the...
In a spreadsheet like MS Excel, the function used to calculate the net present value (NPV) of an investment is:
According to The Companies Act 2013, which of the following statement is incorrect with regards to OPC (One Person Company)?
In relation to internal control, which of the following statements is/are correct? (i) It is a continuous critical review of financial and operating activ...
Which of the following section deals with deduction in respect of Interest on deposits in savings/FD account in case of resident senior citizens?
DuPont analysis is:
As per RBI’s 2025 norms, NBFCs engaged in lending against gold loans must maintain a Capital Adequacy Ratio (CAR) of:
Which of the following is NOT an example of capital receipt?
What is the purpose of performing Due Diligence by banks under KYC norms?

Hey! Ask a query

Which of the following statements regarding an auditor's responsibilities is FALSE?

Solution

More Accounts Questions

Hey! Ask a query

Please Register/Login