What is verification of Assets? What are its objects
ఆస్తుల నిరూపణ అనగా నేమి? దాని యొక్క లక్ష్యాలను వివరించండి
Distinguish between Internal Audit and Statutory Audit
అంతర్గత ఆడిటకు, శాసనాత్మక ఆడిట్కు గల వ్యత్యాసాలేమిటి
Factors considered essential for the audit of a company
కంపెనీ ఆడిట్ చేసేటప్పుడు ప్రత్యేకంగా పరిగణలోనికి తీసుకోవలసిన ఆ
What are the advantages and disadvantages of cost audit?
కాస్ట్ ఆడిట్ యొక్క ఉపయోగాలు మరియు ప్రతికూలాలు గురించి తె
Assignment -2
5X3=15
Answers
Answer:------
Explanation:
**(1)The object of verification is to satisfy the auditor as to existence, ownership, possession (in case of assets) or completeness (in case of liabilities), valuation and disclosure of items mentioned in the balance sheet.
***(2)Statutory Audit is done annually to form an opinion on the financial Statement of the Company i.e. whether they are showing the true and fair views of the affairs of the Company or not Whereas Internal Audit is done basically to detect and prevent errors and frauds.
****(3)Level of assessing and controlling risk.
Internal and external regulatory processes.
The cost of capital.
Quantum and size of various operations.
Complexity of operations.
****(4)Cost audit ensures that the shareholders get a fair return on their investments.
Disadvantages of Cost Audit:
Holding a Cost Audit can be expensive. ...
A Cost Audit can be a long process which will likely involve more time.
hope it helps you brother