- 1 Marks
Question
The duty of an auditor of a company is to:
A. Examine the books of accounts of a company and express his opinion thereon
B. Verify the financial statements on payment of salaries and allowances
C. Verify the financial statements on monthly imprests and express reservation
D. Verify the financial aspects of contracts to be awarded by the company
E. Audit the company based on its internal control system
Answer
A. Examine the books of accounts of a company and express his opinion thereon
Explanation:
The primary duty of an auditor is to examine the books of accounts and express an independent opinion on the fairness and accuracy of the financial statements prepared by the company. This ensures that the company’s financial reporting is reliable and complies with the applicable accounting standards.
- Tags: Auditor Duties, Business Law, Corporate Governance
- Level: Level 1
- Topic: Law Relating to Banking
- Series: MAY 2012
- Uploader: Theophilus