Explain about cross functional audits?
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an auditor gave his report and later he found an material misstatement in the financial statements regarding the period for which he gave report.now he is willing to change his opinion.is it possible.
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State which of the following are Cash transactions, and which are credit transactions: Questions Answers 1. Anil commenced business with Rs.10,000 2. Bought goods for cash Rs. 2000 3. Bought goods from Balaji on account Rs. 4000 4. Paid Balaji on account Rs. 500 5. Commission received Rs. 50 6. Commission due to Raj Rs. 100 7. Took Loan from Bank Rs. 20,000 8. Interest on loan due to the bank Rs. 200 9. Paid salaries Rs. 200 10. Sold goods for Rs. 1000 11. Sold goods to Eshwar on account Rs. 2000 12. Received from Eshwar on account Rs. 100
investigation vs audit