Accounting · Auditing Principles
Which of the following statements is true in the context of auditing?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The auditor is primarily concerned with the collection and evaluation of evidence to establish the accuracy and authenticity of the facts that actually occurred.✓
- 2On regular checking, the extension of audit procedures can be considered superficial.
- 3The auditor is not concerned with the adequacy and reliability of the evidence presented by his client.
- 4Vouching is the method of examination to verify an entry in the books of account with recorded evidence, but the auditor should never go beyond the books of account.
Correct answer
The auditor is primarily concerned with the collection and evaluation of evidence to establish the accuracy and authenticity of the facts that actually occurred.
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