Question

Verification Indicates the
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Answer 1

Question:

Verification Indicates the?

Answer:

proving the truth

Explanation:

Verification means "proving the truth" or "confirmation". Verification is an auditing process in which auditor satisfy himself with the actual existence of assets and liabilities appearing in the Statement of Financial position.

Some More Information:

It is a process that is used to evaluate whether a product, service, or system complies with regulations, specifications, or conditions imposed at the start of a development phase. Verification can be in development, scale-up, or production. This is often an internal process.

Answer 2

Verification means "proving the truth" or "confirmation"

• Verification is an auditing process in which auditor satisfy himself with the actual existence of assets and liabilities

1. Objectives of Verification are:

• To show correct valuation of assets and liabilities.
• To find out the ownership and title of the assets
• To find out whether assets were in existence
• To detect frauds and errors, if any

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