📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!
  • google app store apple app store
    • ✖

      Question

      An examination of a company's financial records to

      derive evidence which can be used in a court of law or legal proceeding is known as ________
      A Statutory Audit Correct Answer Incorrect Answer
      B Internal Audit Correct Answer Incorrect Answer
      C Forensic Audit Correct Answer Incorrect Answer
      D Scientific Audit Correct Answer Incorrect Answer
      E Legal Audit Correct Answer Incorrect Answer

      Solution

      A forensic  audit  is an analysis and review of the financial records of a  company  or person to extract facts, which can be used in a court of law. Forensic Audit is to conduct investigations, in case of embezzlement, financial misconduct, contract non-compliance and other fraud cases. The role of Forensic auditors is to identify the perpetrators of financial theft and frauds including tracing money laundering, identifying illegal/ unethical activities as well as tax evasions.

      Practice Next
      More Audit Questions
      ask-question