The main object of an audit is ____________.both (A) and (B)detection and Prevention of fraud and errorexpression of opiniondepends on the of audit (2024)

FAQs

What is the main object of audit? ›

The main objective of auditing is to find reliability of financial position and profit and loss statements. The aim is to ensure that the accounts reveal a true and fair face of the business and all of its transactions.

The main objective of auditing is to ensure the financial reliability of any organization; detection of fraud is just an incidental object. Independent opinion and judgement form the objectives of auditing.

The purpose of an audit is the expression of an opinion as to whether the financial statements are fairly presented in conformity with appropriate accounting principles.

An investigation audit is an extensive audit procedure that aims to uncover and avoid fraudulent activities, mismanagement, or any other irregularity in an organization. It is a crucial tool for organizations to maintain transparency and accountability in their operations.

detection and Prevention of fraud and error. expression of opinion.

To detect and prevent from errors. To check errors of principles and compulsion errors.

An audit aids in the discovery of a variety of theoretical and administrative flaws, including errors of omission, errors of commission, compensating errors, etc. It also aids in the detection of any form of fraud in business operations.