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Question: What is audit?

Answer: Audit are used to find defects in the software under development.
Audits conduct by the third party or a person who is not from the team for whom audit is performed.



Category Business Audit Interview Questions & Answers - Exam Mode / Learning Mode
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Question: What is audit?
Answer:

Audit are used to find defects in the software under development.
Audits conduct by the third party or a person who is not from the team for whom audit is performed. Source: CoolInterview.com

Answered by: Abdul Quddos | Date: 1/29/2008 | Contact Abdul Quddos Contact Abdul Quddos

AUDIT IS INDEPENDENT EXAMINATION OF FINANCIAL INFO OF ANY ENTITY, WHETHER PROFIT ORIENTED OR NOT & IRRESPECTIVE OF ITS SIZE OR LEGAL FORM WHEN SUCH AN EXAMINATION IS CONDUCTED WITH VIEW TO EXPRESSING AN OPINION THEREON. Source: CoolInterview.com

Answered by: SONI SIDDHI JAGDISHBHAI | Date: 2/20/2008 | Contact SONI SIDDHI JAGDISHBHAI Contact SONI SIDDHI JAGDISHBHAI

The word 'Audit' is a derivative of the word 'Audition' which means 'to hear'. In earlier times, the Kings used to hear their accountants narrate the accounts verbally. However, as the complexity of the accounting function grew, need was felt to thoroughly check the accounts for mistakes/misclassification and document the findings in a written form so that it can be used by the Management, stakeholders, investors, Government and various other bodies. This process is known as Auditing or Audit. Source: CoolInterview.com

Answered by: Sampath | Date: 2/25/2008 | Contact Sampath Contact Sampath

Audit is verifying Adequacy & effectiveness of control and completeness of data processing results. Source: CoolInterview.com

Answered by: Sudhir kumar.Ch | Date: 5/30/2008 | Contact Sudhir kumar.Ch Contact Sudhir kumar.Ch

The most general definition of an audit is an evaluation of a person, organization, system, process, project or product. Audits are performed to ascertain the validity and reliability of information, and also provide an assessment of a system's internal control. The goal of an audit is to express an opinion on the person/organization/system etc. under evaluation based on work done on a test basis. Source: CoolInterview.com

Answered by: Mayur Bajaj | Date: 10/23/2008 | Contact Mayur Bajaj Contact Mayur Bajaj

Audit is a review of system or checking of the records to ensure the accuracy of the same Source: CoolInterview.com

Answered by: Murugan | Date: 2/15/2009 | Contact Murugan Contact Murugan

audit means verification of records which were maintained by the accountant Source: CoolInterview.com

Answered by: ravindra | Date: 3/23/2009 | Contact ravindra Contact ravindra

The word audit is derived from latin word 'audire' which means 'hear' . In older days also
persons are appointed to check the accounts of the parties . he used to call them and hear the explanation needed . The person who heard the accounts came to be known as AUDITOR Source: CoolInterview.com

Answered by: Arjun Sharma | Date: 6/10/2009 | Contact Arjun Sharma Contact Arjun Sharma

For me audit means unless prove everything is wrong. Source: CoolInterview.com

Answered by: Harpreet singh | Date: 6/11/2009 | Contact Harpreet singh Contact Harpreet singh

External audit is an independent examination of financial statements by professional person (AUDITOR)to state if the financial statements, taken in whole present TRUE and FAIR VIEW in respect of financial position (balance sheet), performance (income statement), cash flows, statement of change in equity (SOCE)etc, Source: CoolInterview.com

Answered by: FILBERT ASSEY | Date: 11/12/2009 | Contact FILBERT ASSEY Contact FILBERT ASSEY

Audit refers to an independent examination of financial information of any entity ,whether profit oriented or not,and irrespective of its size or legal form when such an examination is conducted with a view to expressing and opinion thereon. Source: CoolInterview.com

Answered by: kalpana | Date: 12/11/2009 | Contact kalpana Contact kalpana

Audit means to refer all transaction and to find out the any firm had profit or loss and make financial statments.
Source: CoolInterview.com

Answered by: Mahammad sharif | Date: 5/25/2010 | Contact Mahammad sharif Contact Mahammad sharif

Audit refers to the assessment of conformity of the process with the envisaged rules and regulations and reporting deviations, if any, for taking corrective measures.
So Audit is a check on authorities to complying with rules and regulations. Source: CoolInterview.com

Answered by: Naseem Abbas | Date: 6/8/2010 | Contact Naseem Abbas Contact Naseem Abbas

Audit means Verification or Checking of Accounts Preapare by an Accountant. Auditor is a Watch Dog
Source: CoolInterview.com

Answered by: Syed Ismail | Date: 6/25/2010 | Contact Syed Ismail Contact Syed Ismail

Audit is an evaluation of a person, organization, system, process, project or product with a view to expressing and opinion thereon.


Source: CoolInterview.com

Answered by: Omar Kofa Komora | Date: 8/8/2010 | Contact Omar Kofa Komora Contact Omar Kofa Komora


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