Auditor of a___________company does not have right to visit foreign branches of the company?
Correct answer: D. Manufacturing
- A. Unlimited liability
- B. Nonprofit making
- C. Banking
- D. Manufacturing
Explanation
The special right to visit foreign branches is associated with bank audits under banking regulations, whereas an auditor of a manufacturing company does not generally have that statutory visiting right. The company’s records and branch information must still be made available for audit.
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About Auditing
Auditing examines accounting records and financial statements to determine whether they present a reliable and fairly stated position. The subject covers audit objectives, internal controls, audit evidence, materiality, vouching, verification, working papers, auditor independence, audit reports, and the distinction between an audit and accounting or investigation.
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