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investigation vs audit
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Answer / mohsin riaz
Investigation is related to thorough probe down of the
subject matter and its specially related to some fishy
fishy.
Whereas, audit is related to give your opnion that
financial statement show true and fair view. Here, the
subject matter is little bit different actually the
differnce of magnitude come here.
| Is This Answer Correct ? | 9 Yes | 0 No |
invetigation means investigate or searching....
it is totally different from audit & accounts,
it doest relates to these two.
but audit means, vouching & comparition of accounts,
finalisation of accoutns, it is very close to accounts,
audit should be done by auditor only
| Is This Answer Correct ? | 9 Yes | 6 No |
Investigation is the examination of accounts for a special
purpose.The purpose may be to find out the financial
position of the borrowing concern or the earning capacity of
the concern .etc.,Whereas the audit is carried out to
ascertain whether or not the profit and loss account and the
balance sheet exhibit the true and fair view of the state of
affairs and results of operation of the undertaking.
| Is This Answer Correct ? | 4 Yes | 2 No |
Answer / anand
investigation is a process of negative approach. we look
into books of accounts and financial statemetns as if
something fraud, misapproriation of funds etc..happend.
where as audit is s process of positive approach where we
look into the books whether all the provisions are complied
with .. thats y the famous phrase come "auditer is a watch
dog but not blood hunt"
| Is This Answer Correct ? | 4 Yes | 2 No |
Answer / saradha iyer
Audit takes place only in the financial year,say one
year.where as in case of investigation we can not define the
period.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / ravi
audit means verification of the records which were
maintained the accountants audit report is the final report
investigation means still it is in processing finding
some thing which is not known
| Is This Answer Correct ? | 4 Yes | 6 No |
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1 Answers State Bank Of India SBI,
When is income from rented accommodation to be treated as investment income and when as trading income?
Alpha Co. issued to the public for subscription 40000 shares of rs 10 each at discount of 10%payable as rs. 2 each on application, allotment and first call and rs.3 on the final call. Applications were received for 60000 shares and allotment was made pro-rata to 80% of applicants. R to whom 2000 shares were allotted paid only the application money, and S who had applied for 3000 shares,paid the entire call money due along with the allotment. pass journal entries to record the above transaction.
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whether an independant auditor can increase his fees in properitory firm according to turnover.
Audit 
