Question
When an auditor is satisfied with the fairness of the
balance sheet and profit and loss account, which of the following audit report is submitted by him/her? Refer to the following information to answer the next 4 questions (Q17 to Q20) The word Audit is derived from Latin word āAudireā which means āto hearā. Auditing is the systematic examination of financial statements, records and related operations to determine adherence to generally accepted accounting principles, management policies and stated requirement. Importance of auditing can be judged from the fact that even those organizations which are not covered by Companies Act get their financial statements audited. It has become a necessity for every commercial and even non- commercial organization. A company appoints an auditor who submits his opinion on the truthfulness and fairness of the financial performance and position of the company. An auditorās Report is the format of result of all the effort that goes into the audit. Communicating the Auditorās findings to interested users is part of all audits. Thus, the Final phase of an Audit involves preparing that communication, which is known as auditorās report.Solution
Unqualified/ Clean/ Fair report: When an auditor is satisfied with the fairness of the balance sheet and profit and loss account, he will give a clean report. When the auditor makes various statutory affirmations without reservations, he is said to have the given an unqualified report on financial statements of the company.
- Given below is a sentence with an error. The error is in one part of the sentence. Below the sentence are given the options containing the parts of the sen...
1. Global carriers have flocked to India, lured by a domestic travel boom and whatās expected to be the worldās third-biggest aviation market by 202...
You should avoid (A)/to look into these matters as (B)/they are complicated and could be (C)/handled only by a professional (D).
X. The Exorcist still stands today as the scary film ever made.
1. Children are the more vulnerable (A)/to this menace, but its health (B)/will n...
Indore retained its prominence even in the 20th Century due to its association with four prominent musicians linked with the city.
The following sentence has been split into four segments. Identify the segment that contains a grammatical error.
He thinks that he can get away ...
The quality of goods are very good but the shopkeepers have not been able to deal with the falling demand and rising cost of production of the commoditi...
Read each sentence to find out whether there is any error in it. The error, if any, will be in one part of the sentence. Mark the part with the error as...
Parts of the following sentence have been given as options. Select the option that contains an error.
When Ravi will have finished his homework?
The fine is part of ongoing friction among Musk's platform and Australiaās eSafety Office, which monitors online content.
