Internal check is carried on by___________?
Correct answer: D. Members of the staff
- A. Staff specially appointed for the purpose
- B. Internal auditor
- C. Supervisor of the staff
- D. Members of the staff
Explanation
Internal check is performed by members of the staff as part of their normal duties, with duties divided so that one employee checks another's work. An internal auditor independently evaluates the system rather than carrying out the routine internal check.
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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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162 free Auditing MCQs from Accounting, each with the correct answer and an explanation. Unlimited attempts, no account needed.
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