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what is audit
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Answer / kavitha
Audit is an independent examination of financial statements of an entity, to express an opinion on whether the profits or losses expressed in the profit and loss account and the financial position of the company expressed in the balance sheet are true and fair. Only a chartered accountant qualified under ICAI is eligible to be appointed as an auditor of a company.
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Answer / prateek jain
Audit is an evaluation of person, organisation, system, process, project or product.But the term 'audit' commonly referred to audit in accounting.
Audits are performed to ascertain the validity and relability of information and that it is free from material missatement.
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Answer / satya
the word audit is derived from the lation word auditer which
means to hear
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Answer / lokesh chauhan
Audit is a case with the system is checked with their
standards.
Plz correct me if i m wrong...
Regards..
Lokesh Kumar Chauhan
lokesh_kumar_chauhan@yahoo.com
Mobile - 09350229669
Noida
| Is This Answer Correct ? | 21 Yes | 24 No |
Answer / nishank sharma
AUDIT IS AN IMPORTANT PROFESSIONAL TASK CARRYING HEAVY
LIABLITIES AND CALLING FOR THE COMMENSURATE SKILL AND
JADGMENT.
OR WE CAN SAY THAT AUDIT IS A PROCESS OF CHECKING WHOLE
FORM OF ACCOUNT THROUGH VOUCHERS AND BY DOCUMENTS.
IF ANY SUGG. THEN TELL ME ON 9756128974
STUDENT OF B.COM
| Is This Answer Correct ? | 6 Yes | 14 No |
Answer / riaz
An Auditing Is a type Standerdise method of calculating the
accounts and the basics an auditing helps us to find the
profit and loss in the repective accounts and it is process
were vouchers are filed and we can know the balances
| Is This Answer Correct ? | 12 Yes | 21 No |
What should the internal auditor?
Is bank reconcilation necessary for any organization ? If yes, when should that performed ?
is we can avail credit of service tax paid on telephone bill.if yes these credit can be availed from any other head(for eg consultancy service)
what is audit & activities of auditor?
which type audit for your company account
0 Answers Helios Pharmaceuticals,
credit purchases
What sorts of accountant count as "qualified accountants" to be independent examiners for charities with income over ?100,000 or assets over ?1,000,000?
what is the entry for accrual expense and accrual income. And how they are treated. Thanks.
How to do ledger scrutiny of income items in a profit and loss account?
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.
what are the cost audit and management audit?
While conducting an audit, the IS auditor detects the presence of a virus. What should be the IS auditor’s next step? a) Observe the response mechanism. b) Clear the virus from network. c) Inform appropriate personnel immediately. d) Ensure deletion of virus.
2 Answers Hindustan Unilever Limited,
Audit 
