Follow Our FB Page << CircleMedia.in >> for Daily Laughter. We Post Funny, Viral, Comedy Videos, Memes, Vines...


what is audit

Answers were Sorted based on User's Feedback



what is audit ..

Answer / okechukwu emmanuela chika

An audit is the verification of account for a period of a
year. 2005-2006, or 2007. It is also a way of knowing
financial stand of a company.

Is This Answer Correct ?    8 Yes 7 No

what is audit ..

Answer / george

audit is the expression of an independent opinion after
accessing the infomaiton of an organization

Is This Answer Correct ?    4 Yes 3 No

what is audit ..

Answer / abdul haq

Audit is the independant examination of financial
statements of an organization for a particular accounting
period and express an appropriate opanion on those
financial statements.

Is This Answer Correct ?    3 Yes 2 No

what is audit ..

Answer / zeeshan naeem

An audit is the procedure of detecting error and frauds in
the business for a financial year. it also means the
verification of accounts by way of vouching with cash book
and checked with the bank statements, receipts and payments
by making trial balance. After making balance sheet an
audit work is completed

Is This Answer Correct ?    1 Yes 0 No

what is audit ..

Answer / fakrul islam

Simply,auditing means a consideration of financial
endorsement process.

Is This Answer Correct ?    1 Yes 0 No

what is audit ..

Answer / mansoor.t.k

Auditing is nothing but varifying all the financial
statment of company to avoid mispell, misuse and error

Is This Answer Correct ?    4 Yes 4 No

what is audit ..

Answer / nirbhik n. singh

Auditng is the process of verifying and validating all the
financial documents to know the financial status of
company.In the process determine the mishaps,and mistakes
occured in the current financial year.

Is This Answer Correct ?    3 Yes 3 No

what is audit ..

Answer / kranthi

Audit is to check or to inspect. Checking or verifying if
some thing is been followed according to the defined terms/
standards.
This checking can be done many ways...
1) we can do it ourselves. This is called self audit
2) Some one from other departments of the same organization
can do this verification/ check. This is called Internal
audit or cross functional audit.
3) Persons from certifying bodies/ external agencies will
do this verification. This is called External Audit.

Also this audit can be for performance and comliance. If
the verfication is against performance levels of the
person/ department it is called performance audit and if
the verification is done for the compliance against defined
terms/ standards, it is called compliance audit.

Is This Answer Correct ?    2 Yes 2 No

what is audit ..

Answer / sunil dutt

verification of the correctness and accuracy of the books of accounts by a independent person who qualified for job and not in any connect with preparation of such account

Is This Answer Correct ?    0 Yes 0 No

what is audit ..

Answer / girish prajapati

Audit is done in two part in company one is commercial part
in this part we are find out all accounts related query and
other part is operation in this we are find out production
and stock related query.

Is This Answer Correct ?    0 Yes 0 No

Post New Answer



More Audit Interview Questions

What are reasons for giving credit note and sales return to customers?

3 Answers  


What are intangible assets?

0 Answers  


What is Cash Flow statement? How it can be prepared from Opening & Closing Trial Balance?

1 Answers  


plz guide me about study?

2 Answers  


How soon can you make yourself available for employment with us

1 Answers  






what is the expence for producing 1 megawatt energy

1 Answers  


can external audit be seen as merely an overhead cost adding no value to the orgnisation

1 Answers  


what is stock dividend?

5 Answers   Chartered Accountant, Franklin Templeton, IHP,


I Have MBA in Finance and staying at Ameerpet. Please help me in findinag a best institute to learn tally near to Ameerpet.

4 Answers   HCL,


What is the meaning of "Rendered Amount"?

1 Answers  


a can do how many company audits

2 Answers  


What wording should be used in the audit report?

2 Answers   Accenture,






Categories