The following questions relate to aspects of operational auditing. Select the best response. a. Governmental auditing often
Question:
The following questions relate to aspects of operational auditing. Select the best response.
a. Governmental auditing often extends beyond examinations leading to the expression of opinion on the fairness of financial presentation and includes audits of efficiency, effectiveness,
1. Internal control structure.
2. Evaluation.
3. Accuracy.
4. Compliance.
b. A typical objective of an operational audit is for the auditor to 1. Determine whether the financial statements fairly present the entity's operations.
2. Evaluate the feasibility of attaining the entity's operational objectives.
3. Make recommendations for improving performance.
4. Report on the entity's relative success in attaining profit maximization.
Step by Step Answer:
Auditing Concepts And Methods A Guide To Current Auditing Theory And Practice
ISBN: 9780070099999
5th Edition
Authors: Mcgraw-Hill